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RBS assures investors over buy-to-let fears



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Published Date: 02 June 2008
ROYAL Bank of Scotland today moved to reassure investors buy-to-let mortgages account for only one per cent of its UK loan portfolio.
It made the comments following concerns it may face similar difficulties to buy-to-let specialist Bradford & Bingley.

The Edinburgh-based bank also said today that it still expects to achieve trading targets announced in April.

RBS is reportedly seeking talks with investment firm Schroders and other investors that have been plotting to find a replacement for chairman Sir Tom McKillop.

And the company has also agreed to sell its 50 per cent stake in Tesco Personal Finance in a move that will raise £1 billion in fresh capital.

Tesco would then seek a banking licence to run the operation itself.

But it has had difficulty disposing of its insurance arm, which includes Direct Line.





The full article contains 147 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 02 June 2008 11:36 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
1

Mallory,

Edinburgh 02/06/2008 13:48:53
They've got enough problems with the police investigation in London, its sliding share price, the rights issue not to mention reported 'plot' to unseat Sirs Tom and Fred.

 

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