Rennie: RBS bosses must face Holyrood grilling

Scottish Liberal Democrat leader Willie Rennie MSP today said leaders at RBS should be hauled over the coals after leaked documents revealed that healthy businesses were stripped for assets following the financial crash.

It was reported this morning that the Edinburgh-based bank pushed firms into their troubled business unit which is alleged to have chased profits by hitting clients with punitive fees, withdrawing financial support and to have bought assets at knock down prices.

Mr Rennie has called for bank bosses to come to Holyrood and come clean over the impact of their policies on businesses in Scotland.

Commenting, Mr Rennie said:

“Leaders at RBS need to be hauled over the coals. A bank which accepted billions of pounds in public bailout was systematically asset-stripping healthy businesses to boost their own balance sheet.

“The bank has paid out hundreds of millions of pounds in staff bonuses since the taxpayer stepped in to save the firm. It seems that these payments were made on the backs of customers who saw their businesses destroyed by the bank as part of what executives branded a dash for cash.

“RBS is a Scottish bank, headquartered in Edinburgh and doubtless there are businesses here that have been affected by the shameful tactics that the company seems to have employed. Bank bosses need to come to Holyrood and explain themselves.”

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