Royal Bank of Scotland back UK remaining in EU

The boss of Royal Bank of Scotland and banking giant Barclays have said they want the UK to remain in the EU.

Ross McEwan. Picture: Sandy Young

But other big companies including Sainsbury’s, Tesco and British American Tobacco have decided to stay neutral.

They were all among big names not included on a letter from big businesses and business leaders supporting the UK’s continued membership of the EU.
In a statement, Barclays said: “On balance we think it is in the interests of our customers and clients for the UK to remain in the EU. We have modest interests domestically on the continent, but provide significant services to European companies from London.

“More importantly, we are heavily reliant on a successful UK domestic and international economy and feel this is enhanced through the UK’s membership.”

A bank spokesman said policy meant it did not sign “letters of that nature”.

Offering a personal view, Royal Bank of Scotland chief executive Ross McEwan said: “I can’t see an economic scenario where coming out of the EU is a good thing for the bank or the banking industry as a whole in the short to medium term.”

The bank did not sign the letter because it has yet to agree a corporate view, a spokesman said.