Tag Archives: RBS

RBS is closing its bad bank

Reported by | Updated: December 1, 2017

RBS said it is shutting its ‘bad bank’ which it set up to take care of the toxic assets created during the financial crisis. The bank said in an internal memo that it is finally shutting the ‘non-core’ bank, after the division racked up more than 50 billion pounds of cumulative losses. The bad bank […]

RBS to closes 150 branches

Reported by | Updated: March 24, 2017

The Royal Bank of Scotland is closing some 150 bank branches and cutting hundreds of jobs. The bank says this is in response to changing consumer behavior and a surge in the popularity of online and mobile banking. It said 30 RBS and 128 NatWest branches, which are also owned by the group, would shut, […]

RBS to launch 800 mn pound cost cutting plan

Reported by | Updated: February 15, 2017

Royal Bank of Scotland is about to announce a new plan intended to cut costs to the extent of £800 million. The bank had reported its ninth consecutive annual loss. The cost cutting will be in line with its goal for last year, said news reports. In 2016, the bank had reached nearly £700 million […]

RBS to have chatbots for customers

Reported by | Updated: September 29, 2016

Royal Bank of Scotland is coming out with a chatbot, which is an online facility to help customers find answers to their questions and seek directions to the right places. The bank said the facility, called ‘Luvo’ will help at least 10% of the bank’s customers online to begin with. The facility will become live […]

RBS branch sale plan hits dead end

Reported by | Updated: September 21, 2016

Spanish bank Banco Santander has shelved its plan to acquire some 300 branches of Royal Bank of Scotland. The two banks could not agree on the price for the branches, according to news reports. The bailout plan for RBS in 2008 had stipulated that it should sell the branches by 2017. RBS earlier attempted to […]

RBS decision on W&G affects Infosys

Reported by | Updated: August 16, 2016

Royal Bank of Scotland’s decision to drop the project of hiving off Williams & Glyn as a separate bank has impacted Indian software major Infosys. The company was engaged by RBS as a key technology partner for the project. Infosys said in a media statement that the Royal Bank of Scotland has announced that it […]

UK bank customers may have to pay to keep deposits

Reported by | Updated: July 26, 2016

Royal Bank of Scotland and Natwest have told businesses that they may be charged while accepting deposits in view of the low interest rates. The two may be the first UK banks to introduce negative interest rates. This will mean that the businesses would be charged if the y make deposits in the banks. The […]

RBS notifies customers about closure of India operation

Reported by | Updated: July 20, 2016

The Royal Bank of Scotland (RBS) has officially informed its customers in India about the closure of all its 10 branches in the country and withdrawal of its retail and wealth management services. The bank issued notification to this effect on its website and said it is making alternate arrangements for their banking, wealth management […]

RBS cuts more jobs in Britain

Reported by | Updated: June 22, 2016

Royal Bank of Scotland is planning to cut about 900 jobs in Britain. This would take the total number of job losses in the bank in the last four months to around 5% of the bank’s British workforce. The latest cuts are in the IT and back office positions that support the commercial, retail and […]

RBS overhauling its ATM network

Reported by | Updated: June 17, 2016

Royal Bank of Scotland is reported to be creating a separate entity for its Williams & Glyn business and overhauling its cash machine network. It is installing new ATMs in about 300 of the branches that are being hived off to create Williams & Glyn, the challenger bank that it must divest by the end […]