RBS road to recovery

RBS rising from ruins as shadow of former self

Nine years after the beginning of a 45-billion-pound ($56 billion) bailout by the British government, Royal Bank of Scotland (RBS.L) is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008 – almost double Britain’s annual economic output at the time – having staged a meteoric rise from being a small Scottish lender in the early 1990s.

Since the bailout it has offloaded billions of pounds of assets a week, as it tries to shrink down to being a simple UK-focused lender. Later this year RBS will shut its Capital Resolution division, which has sold off large chunks of its huge stockpile of unwanted assets. The closure will mark a milestone in the bank’s road to recovery, with its balance sheet around 1.6 trillion pounds lighter than when its great sell-off began.
http://www.reuters.com…  Mon.,  03 April 2017