Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

RBS warns Scotland independence would 'significantly' impact costs

RBS warns Scotland independence would 'significantly' impact costs

Royal Bank of Scotland has warned that a vote for Scottish independence would ‘significantly’ impact the group’s costs and would be likely to have a negative impact on its credit rating.

A vote to leave the UK ‘could significantly impact the group's costs and would have a material adverse effect on the group's business, financial condition, results of operations and prospects, said RBS, which is headquartered in Edinburgh but remains 81% owned by the British taxpayer.

More generally the uncertain nature of Scotland’s membership of any currency union ‘could also impact the fiscal, monetary, legal and regulatory landscape to which the group is subject’.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Play Dangerous daisy chains, Black Friday blues and Uber valuations

Dangerous daisy chains, Black Friday blues and Uber valuations

This week’s Investment Pulse looks at the domino effect in European banks, America’s disappointing Black Friday and how much Uber is really worth.

Play Baillie Gifford's Snell bullish on India's prospects following election

Baillie Gifford's Snell bullish on India's prospects following election

Citywire AA-rated manager is seeing good overall growth for the Asia reason but is wary of varying valuations.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter