|RBS Sells 314 Bank Branches|
The Royal Bank of Scotland has agreed to sell 314 bank branches for £600m to the Corsair consortium, which includes Church of England investment. They serve some 250,000 small business customers, 1200 medium-size businesses and 1.8 million retail customers. The deal was forced on RBS by the European Commission as a condition of its 2008 state bailout, which left RBS 81%-owned by the taxpayer. Ethics The business will eventually be sold as a stand-alone public company in 2015 at the earliest.
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Published on our website on September 29, 2013