Europe, Financial, Global Banking, News

RBS Unveils £800m Cost Cutting Plans

RBS Unveils £800m Cost Cutting Plans

RBS is set to unveil a £800m cost cutting plan as it reports the ninth consecutive annual loss at the end of the month. The new cost cutting measures are going to be driven by closing of high street branches and cuts in staff numbers. The bank has closed nearly 200 branches in the past two years.  Last year, RBS had achieved nearly £700m of savings by the end of the 3rd quarter.

“RBS is set to unveil a £800m cost cutting plan as it reports the ninth consecutive annual loss at the end of the month.”

~ Financial Times

The CEO of RBS is under the spot light as it is expected to report a net attributable loss for shareholders of more than £5 billion last year.

Related Reports: Financial Times

 


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency
Previous ArticleNext Article