The Royal Bank of Scotland is essentially a solid bank struggling to get back into the commercial world. George Osbourne, the United Kingdom’s Chancellor has said that he wants to start sell selling off the huge state asset as soon as he can. Provided, of course he is returned to Number 11 Downing Street after the next election.
The government has a 79% stake in the Royal Bank of Scotland whose core retail and business banking operation is performing well.
However, it is overshadowed by its investment bank and the troubles of the past. If it concentrates on its core business, then the possibility of a sale is looking likely. This will be welcome news for the bank’s executives who have no doubt felt that even though they have been allowed to be run ‘at arms length’ the spectre of ministerial decision has always been a constant threat.
There is little doubt that a well run independent Royal Bank of Scotland will be of more benefit to the United Kingdom’s economy than one that is dithering due to two sets of management. It does seem to be time that the UK sells the bank and let’s it get on with what it is supposed to be doing.
