Treasury wants more answers from Royal Bank of Scotland

Laos News.Net
Monday 9th November, 2009

The UK Treasury has asked bailed-out Royal Bank of Scotland Group to advise why businesses do not want its loans.

RBS has told the government it will not meet its £16 billion business lending target because of subdued demand in its loans department.

The Treasury has asked the bank to publish a so-called consumer charter to prove their conditions for loans are not proving too onerous for the business public.

The government has said it will inject another £33.5 billion into RBS, taking its stake in the troubled bank to 84%.

It is already 70% owned by the taxpayer.

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