Harder times ahead for RBS
Aside from the rest of the pressures facing the banking sector, RBS has its own unique set of problems. Speculation has mounted over the weekend that the European Commission will force RBS to sell a number of assets to pay for the £20 billion taxpayer support it has so far received and the protection of the Government’s Asset Protection Scheme. Stephen Hester is understood to be concerned about the potential divesting of Churchill, Green Flag and Direct Line, …
Aside from the rest of the pressures facing the banking sector, RBS has its own unique set of problems.
Speculation has mounted over the weekend that the European Commission will force RBS to sell a number of assets to pay for the £20 billion taxpayer support it has so far received and the protection of the Government’s Asset Protection Scheme.
Stephen Hester is understood to be concerned about the potential divesting of Churchill, Green Flag and Direct Line, and its US bank Citizens, which he last month labelled as a “core business”.
Given that the bank already looks like a one-legged man in an arse-kicking competition; it might not help to chop off its toes.
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