In a move announced this morning, RBS will sell branches in England and Wales as well as its NatWest brand in Scotland. It will also sell RBS Insurance and Global Merchant Services, its card payment business. The total disposal will be 318 branches in the UK, or 14% of the RBS retail network. The company will also participate in the Government’s asset protection scheme.
Lloyds is to raise £21 billion but will stay out of the Government’s asset protection scheme.
