Advertisement

  1. National

RBS avoids 'bad bank' split

Royal Bank of Scotland today reported a sharp fall in operating profits to £438 million for the third quarter, from £909 million a year earlier. The bank is also to create an internal 'bad bank' with £38bn of problem assets, avoiding a full split.

View all 15 updates ›

RBS was too focused on 'getting things out of the door'

In an interview with ITV News, the RBS boss Ross McEwan has admitted that five years ago the bank was too focused on 'getting things out of the door'.

Mr McEwan said: "Take the bank back five years ago, when we lent loans that we can now struggle to recover.

"The pendulum swung so far out to the side of getting things out of the door without the controls. The bank got tightened up because we were in such strife."

More on this story