RBS chief demands 'hard facts' from critics of its lending policy

A SENIOR executive at Royal Bank of Scotland has accused those who criticise its lending practices of failing to come up with hard facts to support their claims.

Chris Sullivan, chief executive of corporate banking, said they were "hiding behind anecdotes" and he challenged them to contact him to show that the bank was not supporting its customers.

His comments underline the banking sector's insistence that it is doing all it can to provide finance and other aid to the business community.

However, he refused to admit that the target of his comments was the Business Secretary, Vince Cable, who has repeatedly called on the banks to increase lending to companies.

"I hear a lot of anecdotal stories (about banks not lending] but they are not backed up by surveys or by my experience," he said in an interview with Scotland on Sunday.

"I am not singling out anyone, but this is not backed up by specific facts. Far be it for me to criticise Mr Cable,"

New figures from the Bank of England show the banks are on track to meet government targets and Sullivan said that feedback from companies show they are more positive towards the banks than is popularly assumed.

He said one of his tasks was to reassure customers that the bank was making great strides to shift from a sales to a service culture and his staff were being encouraged to think like business people rather than like bankers.

He met members of Glasgow Chamber of Commerce on Friday which he described as "constructive". He said the reaction was equally critical and supportive. One of those who attended said the members had been frank about their experiences. Alan Stewart, a director of CRGP architects and surveyors, said: "No one pulled their punches but they were not hostile. Everyone was very direct. Over the past four years RBS has been very supportive of us."

Sullivan told Scotland on Sunday that the bank wanted to help customers deal with risk and achieve greater efficiency as well as providing financial support. "We want our managers to know their clients and work with them on these things rather than simply flogging them products," he said.

Evidence suggested the bank's lending record was better than its critics claimed. "Seventeen out of 20 proposals are accepted by RBS," he said, but he cautioned that many business managers were not making applications for loans because of a lack of confidence in the economy.