Unlike Lloyds, where the Government has been steadily selling shares it acquired when the bank had to be rescued in 2008, RBS remains 80% owned by the public. Despite a drastic pruning of its balance sheet and the sale of non-core businesses, its stock price is still substantially below the level at which taxpayers, who funded the £45 billion recapitalisation of the bank, would get their money back.
Category: Ethical finance
The Archbishop of Canterbury said it and was ignored, now Vince Cable’s “Enterpreneur in Residence” has repeated it. RBS and Lloyds are too big and have too dominant a share of the UK banking market to enable a healthy economy to grow: they should be broken up now.