RBS to cut back international operations

2nd Jul 2015 16:22

RBS has announced plans to minimise its services outside of Britain and Ireland.Only international clients with significant ties to those markets will be able to access the Edinburgh -based firm's cash management and trade finance services.Clients outside of this network will be referred to French sector peer BNP Paribas."As part of our announced strategy to make RBS a simpler, stronger and more sustainable bank, RBS Transaction Services will focus on its home market capabilities in the UK and the Republic of Ireland," said head of Global Transaction Services Marc Townsend.The bank, of which 90% is owned by the British Government, will continue to scale back its global ambitions over the coming months, as its focuses on British retail and corporate lending.RBS reported its seventh consecutive annual loss in February.