Future Of State-backed UK Lender RBS Set To Be Cleared Up

wochit business
October 31, 2013 AT 9:06 PM
The future of Royal Bank of Scotland should become clearer on Friday, with Britain's finance ministry expected to reveal if it wants the state-backed lender to be broken up. Bankers and political sources say the most likely outcome is that RBS, 81 percent-owned by the government, will agree to create an internal 'bad bank' to house more of its problem loans, with the government deciding against a formal break-up.