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RBS: to split, or not to split?
Leaks from the banking commission’s report into the majority state-owned RBS show that a clear split is emerging – not with regard to RBS, but inside the commission itself.
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The Royal Bank of Scotland has been fined for inaccurately reporting hundreds of thousands of transactions made in the wholesale market.
RBS begins an inquiry into business lending after finding it has a £20bn pot of money available for small and medium-sized businesses.
The treatment of Bernard Lockett at the hands of RBS has been described by Banking Commission researchers as amongst the worst they have heard. Watch the full interview with Siobhan Kennedy here.
Royal Bank of Scotland is expected to announce 2,000 job losses in the wake of boss Stephen Hester’s plans to stand down after five years at the helm.
RBS Chief Executive Stephen Hester tells Channel 4 News he would have been prepared to take the bank through privatisation, but that “would have been the end of a journey”.
Leaks from the banking commission’s report into the majority state-owned RBS show that a clear split is emerging – not with regard to RBS, but inside the commission itself.
More than 12,000 private shareholders, who paid out money to help RBS during the financial crisis, launch a potential £4bn claim against the bank and its former bosses.
Top level investors who stumped up to help RBS weather the financial crisis, now claim key documents around an emergency share sale were inaccurate and misleading, and are suing the bank for millions.
RBS apologises to its millions of customers after a technical problem left them unable to access accounts for the second time in nine months. But some customers continue to experience problems.
In advocating that RBS should be split into good and bad banks, Sir Mervyn King is showing a “major display of independence in his last months in office”.
Royal Bank of Scotland pays more than £600m in bonuses to its staff, despite a “chastening” year in which it made pre-tax losses of £5.2bn.
RBS Chief Executive Stephen Hester tells Channel 4 News Business Correspondent Siobhan Kennedy that rewarding bankers’ success should not be “something to be ashamed of”. Watch the extended interview.
Stephen Hester, the chief executive of RBS, says that tens of billions of pounds of damages, including its £390m Libor fine, will be paid for out of profits, and therefore by the taxpayer.
Royal Bank of Scotland is fined almost £400m for its role in the Libor rate-fixing scandal, the third bank forced to pay a penalty by regulators in Britain and the US.
Chancellor George Osborne describes a move by RBS to exit a state-backed insurance scheme as a “step” towards returning the bank to the private sector.