To make people forget the crisis, Royal Bank of Scotland changes its name

After numerous excesses, RBS had to be saved from bankruptcy in 2008 by the British state, which nationalized it for 45 billion pounds (54 billion euros). Ten years in the red followed with very heavy losses (a total of 58 billion pounds or 69 billion euros), linked in particular to numerous and costly disputes and a deep restructuring. The bank has severely cut staff and cut its international and market activities to refocus on the UK and retail banking.

Since 2018, RBS, in which the British State still holds 60% of the capital, has been doing better and has returned to profit. An improvement that could prompt the government of Boris Johnson to sell an additional share of the capital, even if the share value is more than half the price paid during the nationalization. The past is difficult to settle.

Find this article on Figaro.fr

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