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RBS destroyed customers' businesses for profit and rewarded staff who targeted struggling firms
RBS destroyed customers' businesses for profit and rewarded staff who targeted struggling firms
This is a duplicate of the Blog Entry made on: 11th October 2016 08:39
This is a duplicate of the Blog Entry made on: 11th October 2016 08:39
................leaked files suggest
The Royal Bank of Scotland has come under increased scrutiny today after leaked files emerged that indicate it deliberately destroyed customers' businesses in order to boost profits. New documents show a project, labelled by one executive in an email as a 'dash for cash', crippled firms as it dangled hefty bonuses to staff who targeted firms to be 'restructured.' RBS, which was bailed out in the financial crisis by taxpayers, allegedly destroyed thousands of businesses during the crisis to boost profits, according to the secret documents obtained by BuzzFeed News and the BBC.
Tonight, further details are expected to emerge as the BBC focuses a segment of its 10.30pm show News night on the bombshell claims. It is believed that RBS bought assets at rock-bottom prices when firms hit difficulties in the economic turmoil which erupted in 2007 to then flog for a profit. Staff were encouraged to target struggling companies and levy them with harsh fees. It meant many went bust while it boosted its own balance sheet.....Read more HERE
- Leaked files show RBS staff targeted struggling business customers
- It bought assets cheaply in financial crisis and crippled firms, files claim
- Lawrence Tomlinson issued report on RBS and small businesses in 2013
The Royal Bank of Scotland has come under increased scrutiny today after leaked files emerged that indicate it deliberately destroyed customers' businesses in order to boost profits. New documents show a project, labelled by one executive in an email as a 'dash for cash', crippled firms as it dangled hefty bonuses to staff who targeted firms to be 'restructured.' RBS, which was bailed out in the financial crisis by taxpayers, allegedly destroyed thousands of businesses during the crisis to boost profits, according to the secret documents obtained by BuzzFeed News and the BBC.
Tonight, further details are expected to emerge as the BBC focuses a segment of its 10.30pm show News night on the bombshell claims. It is believed that RBS bought assets at rock-bottom prices when firms hit difficulties in the economic turmoil which erupted in 2007 to then flog for a profit. Staff were encouraged to target struggling companies and levy them with harsh fees. It meant many went bust while it boosted its own balance sheet.....Read more HERE
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