Government eyes RBS branches for nationalisation - reports

clock

The government is considering nationalising the 316 Royal Bank of Scotland (RBS) branches currently up for sale with a view to creating a new business lender, the Sunday Times reports.

If no commercial buyer is found for the branches, UK Financial Investments - which controls the stakes in the part-nationalised lenders - said it would be set up as a standalone bank owned entirely by the taxpayer with the purpose of lending to small businesses. It would branded Williams & Glyn's, the name of a northern bank bought up by RBS 27 years ago. RBS is being forced to sell the 316 branches due to European state aid rules after accepting a government bailout during the financial crisis. Santander had been the preferred bidder for the branches, but pulled out last month. T...

To continue reading this article...

Join Investment Week

  • 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

Join now

 

Already an Investment Week
member?

Login

More on Equities

Dan Green, portfolio manager at Martin Currie

Three sectors that will benefit from the digital economy

E-commerce, the auction industry and cybersecurity

Dan Green
clock 12 August 2022 • 3 min read
Mike Preston, partner at Cleary Gottlieb

Private equity in sport: A growing opportunity

Expected to grow to $500bn

Mike Preston
clock 11 August 2022 • 4 min read
Markus Hansen has been a portfolio manager for Vontobel's Quality Growth Boutique since June 2020.

Vontobel's Hansen drops Adidas for Hermès as a European recession looms

Shopping after growth derating

clock 10 August 2022 • 2 min read
Trustpilot