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
Signup and gain exclusive members-only insights
- 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
