Bailed-out bank says regulator has started ‘enforcement proceedings against Swiss arm over certain client account as it reveals large first quarter lossRoyal Bank of Scotland has revealed that Swiss authorities are scrutinising its Coutts subsidiary as the bailed-out bank reported a near £1bn loss for the first three months of 2016.
The loss,and problems selling off its Williams & Glyn network to comply with a demand from the European Union, has raised questions approximately the government’s ability to sell off any further shares in the 73% taxpayer-owned bank.
Continue reading...
Source: theguardian.com