RBS shares increase following non-core assets unit plans
Feb 23, 2009 | Comments 0
Royal Bank of Scotland (RBS.L) have seen their shares increase by 15 per cent this morning, this is due to an expected announcement by RBS, that they are to create a new non-core division, this is where the bank’s unwanted assets will be placed.
It is expected that sometime this week RBS
will announce their plans to split into two, one part will concentrate on UK retail, as well as retail and commercial operations. The other part will then concentrate on non-core assets, which could then be sold over the next three to five years.
Thursday will be a black day for Royal Bank of Scotland, as they are expected to announce Britain’s biggest ever-corporate loss. It is also feared that over 20,000 job cuts will be announced, this is part of the banks plans to help save £1 billion.
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Filed Under: Business News