The Chancellor George Osborne is expected to step back from plans to break-up the Royal Bank of Scotland (RBS) amid an expected outcry from some shareholders.
Plans for a "good" and "bad" bank have been in motion for some time, but - pending a report from the Treasury that is likely to stop short of proposing a split - they could be scrapped altogether. A report in the Sunday Times said RBS is instead likely be forced to commit to a more rapid run-down of its problem loan book - mostly related to commercial property and Ulster Bank, its troubled Irish business. The report said RBS could also be told to accelerate the sale of its American business Citizens, which is currently scheduled to be floated next year. Advisers at Morgan Stanley a...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
