RBS drops in London trading over Irish exposure

ROYAL Bank of Scotland Group Plc (RBS) dropped in London trading yesterday because of investor concerns about its exposure of £42.2 billion (€50bn) of loans to Ireland.

The RBS stock lost 2.7% to 41.02p at the close in London, the lowest in four months. The bank was the sixth-worst performer in the 54-member Bloomberg 500 Banks Index.

MFGlobal Securities analyst Shailesh Raikundlia said: “It’s to do with their exposure to Ireland. They have significant exposure.”