Osborne applauds sharper RBS focus on UK business

LONDON Thu Feb 28, 2013 3:19am EST

Related Topics

LONDON Feb 28 (Reuters) - Britain's finance minister, George Osborne, said on Thursday he welcomed an announcement by part-nationalised Royal Bank of Scotland to accelerate its strategy of becoming a more UK-focused bank with less investment banking activity.

"I have been very clear that I want to see RBS as a British-based bank, focused on serving British businesses and consumers, with a smaller international investment bank to support that activity rather than to rival it," Osborne said in a statement.

"I welcome RBS's announcement today to accelerate that strategy," he said shortly after the bank announced earnings and said it would reduce further the scale and scope of its markets business.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.