Mar 2, 2020

RBS scheme to help businesses and rivals veers off track

Mandarins want business customers to wave farewell to Royal Bank of Scotland and hello to any one of a crop of challengers. Despite a golden ticket worth up to £50,000 a time for businesses prepared to switch banks, customers just won't go. Lenders received funds from BCR to invest in their business banking less than a year ago. BCR rewarded Metro Bank with its biggest prize - £120m - even after the lender admitted it had bodged its sums. Since Sherborne first began agitating Barclays to ditch its investment bank, the bank's shares have fallen 70 per cent.

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