Home News Scottish News
RBS review after bailout bid agreed
A full review of Royal Bank of Scotland is getting under way after shareholders overwhelmingly approved a £20 billion bail-out plan for the company.
The bank's new chief executive Stephen Hester conceded that job losses were expected, but said he wanted RBS to move forward following its financial difficulties.
At a general meeting of the RBS Group in Edinburgh, shareholders voted 99% in favour of the rescue plan, which will see the bank offer £15 billion in new ordinary shares, with the Government promising to buy up any remaining.
Copyright and Trade Mark Notice © 2009 owned by or licensed to Scottish & Universal Newspapers Limited. Wishaw Press™ is a trade mark of Scottish & Universal Newspapers Limited. Please read our Terms and Conditions and Privacy Statement before using this site.