Thursday, Apr 17, 2008
Britain's second biggest bank is to make a plea to the City to try to raise billions of pounds to help shore up its finances, which have been hit by the global credit crisis.
The Telegraph: Royal Bank of Scotland in fresh cash plea
The Royal Bank of Scotland, which owns NatWest, is to launch a rights issue for at least £5 billion.
It is the first major British bank to concede that it needs large amounts of extra money and it is expected to trigger a wave of others appealing to shareholders for help.
However, the move, disclosed by City sources to The Daily Telegraph is expected to lead to pressure on Sir Fred Goodwin, one of the City's most respected bankers, who may now face calls from RBS shareholders to step aside as chief executive.
The move by RBS could lead to pressure on Sir Fred Goodwin to step aside as chief executive.
Posted by micasasucasa @ 11:26 PM (106 views) Add Comment
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