RBS are told to sell 300 of their branches!

nard1 · #1 (**permalink**) 10-14-2009, 05:13 PM

It has been announced that RBS may have to sell 300 of their branches as a penalty of receiving billion pounds of state aid?

Can anyone please educate me and tell me what State Aid means!!??

MurryC · #2 (**permalink**) 10-15-2009, 02:23 PM

whaT? I am at a loss here too! Does anyone here know anythign about this?

brian · #3 (**permalink**) 10-26-2009, 10:37 PM

Not heard a thing about this - if they were, it would be big news, but the fact no one is reporting it suggests it's just empty rumour.

Laila · #4 (**permalink**) 10-29-2009, 08:52 PM

That's surprising. I heard that RBS were stowing cash away in a bonus pot to reward their staff at the end of the year! Who knows, that might be a rumour too?

I reckon state aid is bail-out money from UK taxpayers?

Ryan6 · #5 (**permalink**) 11-03-2009, 06:00 AM

The news that they will be cutting 3700 jobs is very sad. Seems like they are really struggling to keep on top of things.

MurryC · #6 (**permalink**) 11-04-2009, 04:26 PM

It looks like ti was not a rumour afterall! I read an article yesterday that said that they will be selling off approx 900 branches over the next four years between RBS and Lloyds! Crazy crazy times hey?

Do you really think it will lead to more job losses then?