RBS denies profiting from small business in distress

A Royal Bank of Scotland executive has denied the bank profits from small business customers in financial distress.

RBS denies profiting from small business in distress

The bank’s Global Restructuring Group tries to help turnaround companies and is “absolutely not a profit centre,” deputy chief executive Chris Sullivan told MPs at a Treasury Committee hearing in London yesterday.

“Absolutely, unequivocally, I’m saying this is a cost centre.”

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