Royal Bank of Scotland issues customer charter
In a bid to try and regain the trust of the UK public Royal Bank of Scotland has today issued a 14 point customer charter. While the charter contains a number of relevant and interesting points it is the promise that where Royal Bank of Scotland is the "last bank in town" it will ensure that the operation remains open thereby ensuring banking facilities for people in the area.
Amongst the other pledges issued today is a promise are at least 200 branches will open earlier through the week and close later on weekends with more branches set to open on Saturdays. Custom waiting times will also be addressed within branches, as well as annual reviews for customers, an early warning system for customers facing financial difficulties and more focus on customer services and customer requirements.
This would appear to be stage one of a fightback by the UK banking industry after a period when the sector has been tarred as the "devil incarnate" but as we have seen before, the proof is in the pudding. It will take some time to regain the trust of customers in the UK who never for a second believed that the UK banking system could ever have been on the verge of collapse.
EU banking rescue plan in disarray
Britain and France have expressed dissatisfaction with an EU proposal to create a new funding initiative to cover failing banks in the future. Despite the fact that the likes of Germany and other EU members are in agreement over the creation of "national fund" to help wind up and reorganise troubled banks the UK and France are now arguing heavily against the deal. The national funds would be cr...Read More
Icelandic government now in control of Landsbanki
News that the Icelandic government has seized control of the country's second largest banking operation, Landsbanki, does not bode well for the immediate future of the Icelandic financial sector. While normally this would not have registered in the UK press it seems as though many thousands of UK customers have become embroiled in the saga.
Landsbanki has an internet business, whic...
Will UK taxpayers lose out if UK banks are split?
Despite the fact that the UK government believes that splitting UK banks will help introduce more competition into the sector there is a feeling that taxpayers could lose out on their direct investments in the likes of Lloyds bank, Royal Bank of Scotland and Northern Rock. It is believed that Royal Bank of Scotland alone could possibly lose around £2 billion a year in profits simply by spinning o...Read More
Could more UK banks fall?
After the double whammy of the demise of the US led bailout and the failure of the Bradford and Bingley there are some very nervous banking execs in the UK and around the world. While the Bradford and Bingley was by no means one of the leading UK banks, nobody would have even joked about a collapse prior to the credit crunch. However, here we have it, HBOS saved by a rescue bid from Lloyds Bank...Read More
Co-op group look set to lose control of Co-op bank
22/10/2013 The Co-op group have confirmed that they are in talks to sell off a majority stake of the banking arm of the mutual organisation, due to the bank facing a shortfall of £1.5 billion. The mutual organisation will still hold a 30% share in the bank, and retain ‘effective’ control, while it still holds the single largest stake. However, this ‘effective’ control is not guarant...Read More