RBS ANNOUNCE RECORD PROFITS WHILE CLOSING 62 SCOTTISH BRANCHES

February 26, 2018

Patricia Gibson MP has called on RBS to reverse closures after Chief Executive Ross McEwan announces the bank’s first profit in 10 years.

 

The bank, which is still majority-owned by the taxpayer following the bailout of 2008, announced an annual profit of £752 million.

 

Earlier this month RBS announced a temporary reprieve for 10 branches but 52 others still face imminent closure, including branches in Kilbirnie, Kilwinning and Kilwinning.

 

The Federation of Small Businesses said companies using the branches still slated for closure would take “little comfort” from the announcement that 10 branches will be saved pending review at the end of the year.

 

Mrs Gibson added:

“There is simply no justification for withdrawing these lifeline banking facilities from communities across Scotland. The supposed £9 million which will be saved by closing dozens of Scottish branches if their sale is realised - by no means a certainty - is a drop in the ocean compared to profits made this past year.

 

“The decision to press ahead with closures would be bad enough from any high street bank, but is even more galling coming from RBS, which is 72.9% owned by the UK taxpayer.

 

“I urge the UK Government to exercise its majority shareholding to encourage RBS to save these branches.”

 

 

 

 

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