- Friday, April 19, 2024
By: Radhakrishna N S
Royal Bank of Scotland (RBS) has set an extra £100 million ($128m) aside to account for possible bad loans as a result of Brexit uncertainty, in the first concrete sign this is clouding the outlook of a big British bank. The provision means RBS is concerned that its customers might become less able to pay their debts when Britain leaves the European Union in five months’ time. While HSBC put aside $245m at its half-year results to account for greater economic uncertainty, RBS is the first big UK bank to link the move to Brexit. CEO Ross McEwan said RBS…
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