RBS boss hints at branch closures

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ROYAL Bank of Scotland chief executive Ross McEwan today hinted at branch closures after telling the Scots parliament that he was instigating a “fundamental change to the way we do business”.

Speaking at the annual Business in the Parliament event at Holyrood he said he and the leadership team were reviewing the business to refocuse it on the customer.

The Chief Executive of RBS, Ross McEwan, makes his address to the Scottish Parliament. Picture: PA
The Chief Executive of RBS, Ross McEwan, makes his address to the Scottish Parliament. Picture: PA

“Plans for a fundamental change in the way we do business is something my leadership team and I are undertaking as we speak, and which we will be saying more about in the next few months,” he told MSPs.

He said transactions at branches had fall by 30 per cent since 2010, hinting that RBS may follow Barclays in closing some outlets. Barclays is axeing 1,700 jobs in its branch network.

“The review of our business over the next few months will lead to some significant changes. When it comes to that time, you may not agree with all steps we decide to take, but I hope that you have some sense today that our intentions are the right ones. By far the most significant change we will make is to become a real customer bank.”

 

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