Scottish independence could have “material adverse effect” on RBS, says bank
RBS has reiterated that a vote for Scottish independence would negatively impact its business.
Although the initial comments were in a statement in April, the bank today said in its half-yearly report that a yes vote could change the "fiscal, monetary, legal and regulatory landscape to which the group is subject". It also mentioned the prospect of credit ratings cuts.
RBS, 81 per cent of which is owned by the British government, said in April that a yes vote "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".
While the bank has been careful not to become embroiled in the debate over Scottish independence, this is not the first time it has commented. Earlier in the year the bank indicated it might have to reconsider its options should Scotland leave the union.
The referendum on Scottish independence is scheduled to be held on 18 September. The unionists hold a narrowing lead.