Osborne set to decide RBS future this week

clock

The Chancellor looks set to decide the future of the taxpayer-backed lender this week following a government-commissioned review of the business.

Pressure is mounting on George Osborne (pictured) to split Royal Bank of Scotland into ‘good' and ‘bad' banks. A decision could come on Friday when the bank publishes results for the third quarter of the year with analysts expecting profits of £440m, the Daily Mail reports. Former Tory Chancellor Lord Lawson, a member of the Parliamentary Commission on Banking Standards, yesterday urged Osborne to break up RBS. He said: ‘The Royal Bank of Scotland, which includes Nat West and a number of other important banks, should be split into two, all the bad loans put into a bad bank and then...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Danger' for advisers who think poor conduct is not relevant to them

'Danger' for advisers who think poor conduct is not relevant to them

‘You cannot rely on people deciding what to do in the moment’

Hope Coumbe
clock 28 March 2024 • 1 min read
Advisers on 'dangerous ground' if they take tick-box regulation approach

Advisers on 'dangerous ground' if they take tick-box regulation approach

‘They should embrace the spirit in which the regulation has been created’

Isabel Baxter
clock 27 March 2024 • 1 min read
FCA enforcement to become 'assertive, proactive and intrusive'

FCA enforcement to become 'assertive, proactive and intrusive'

‘You can expect the regulator to take robust action where needed’

Isabel Baxter
clock 29 February 2024 • 2 min read