Posted Mon, 30/11/2009 - 03:21
Loans News - Sunday 29th November 2009
Celebrities and businesses voice anger at Royal Bank of Scotland |
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Sunday 29th November 2009
The Royal Bank of Scotland, which has effectively been bailed out by the UK government and UK taxpayers, is this weekend under significant pressure from celebrities and businesses up and down the UK. There are concerns that the Royal Bank of Scotland has taken billions upon billions of pounds of taxpayer’s money and nothing has been given back to the UK economy or the UK taxpayer as yet. Indeed, it was revealed last week that Royal Bank of Scotland is one of the funding banks with regards to the Kraft Foods bid for Cadbury which could, if successful, resulting in significant job cuts in the UK. There is concern that the UK government, having passed over billions upon billions of pounds of taxpayer’s money in exchange for shares in the Royal Bank of Scotland, has effectively given the directors of the company a free rein. Time and time again we have seen Lloyds Bank and the Royal Bank of Scotland come back to the UK government for further funding and further assistance, prompting accusations that the government has "written a blank cheque" for both the Royal Bank of Scotland and Lloyds bank. Whether this is actually correct or not is open to debate but there is very little coming back from this prominent Scottish financial institution.
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Comments
by Anonymous - 30 Nov 2009 - 06:19
we run a business with a annual turnover of over 10m which banks with rbs/nat west, we have had a relationship for a number of years at normal rates of 2% over base on overdraft and a rolling credit facility.
we have just been offered new terms for the exact same facilities we have had previously but which are priced at a rate of 6.5% over base with a 10% arangement fee plus many other charges.
this bank is now threatening our existence with its actions, we have been in operation for 25 years and employ almost 200 people, they are doing their best ruin the uk business community.
their only interest is raising as many charges as possible to ensure they get a pat on the back and keep their jobs.
i cannot believe the government or the directors of nat west want this, but it is happening and the managers on the ground are very aggresive in their actions which someone must be authorising.
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