Royal Bank of Scotland (RBS) will go ahead with the disposal of a substantial part of its SME banking business in the UK. The operation will be a complicated one and the British subsidiaries of Santander and Sabadell will participate in the bid process.
LONDON | By Víctor Jiménez | The financial services industry in Scotland is more than twice as large as that of the rest of the UK when compared to the gross domestic product. But where the unionism points out an unaffordable risk, some analysts see an opportunity. (Image: The first minister of Scotland, Alex Salmond by Robert Perry/EPA)
LONDON | Who in Britain would place faith in the good nature of bankers? While Wednesday afternoon the House of Commons played volleyball blaming either Labour opposition or the Conservative-led Coalition cabinet for the bonus pool available to top Royal Bank of Scotland 83pc-public workers (remember the €45 billion taxpayer bailout), how lonely Commerzbank’s chairman Martin Blessing must have felt. Mr Blessing told a London court on Monday that most of his…