(25 May 2018 – UK) Royal Bank of Scotland has announced a £1bn small business lending fund as the bank looks to defend its dominant position in the UK market.
The £1bn pledge will be launched in the coming weeks and is designed to boost investment in manufacturing and technology.
Alison Rose, head of commercial and private banking at RBS, said at an industry event, “we understand that SMEs are the lifeblood of the economy and there is more that can be done to support them.”
RBS is the biggest business bank in the UK but has been criticised after reports of “widespread inappropriate treatment” of small-business customers at its Global Restructuring Group in the wake of the financial crisis.