RBS chief executive denies 'profiteering' claims

Royal Bank of Scotland's new chief executive, Ross McEwan, has denied claims the bank 'systematically' ran small businesses into the ground, and said the allegations have damaged RBS' reputation.

McEwan (pictured) said yesterday he had seen no evidence the bank had sought to make money from customers by pushing them into its Global Restructuring Group (GRG) division, which specialises in handling riskier loans. "It is important to note that the most serious allegation that has been made is that RBS conducted a 'systematic' effort to profit on the back of our customers when they were in financial distress," the Guardian quotes him as saying. "We do not believe that this is the case, but it has nonetheless done serious damage to RBS's reputation. No evidence has been provided...