RBS to bolster balance sheet by £2 billion
Royal Bank of Scotland is to embark on fresh cost-cutting after failing an annual health check.
The state-backed lender will have to bolster its balance sheet to the tune of £2 billion as it emerged as the worst performer in tough Bank of England stress tests.
Edinburgh-headquartered RBS, which remains 72 per cent owned by the taxpayer following its bailout at the height of the financial crisis, said it had now drawn up a plan to bolster its resilience in the event of a fresh economic shock.
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