Wednesday, Jun 17, 2009
Definitely not a return to 2007 lending levels
Guardian: Hester tells property companies RBS will be cutting their loans
The Royal Bank of Scotland plans to reduce its lending to property companies as the economy has not yet started to recover and it wants to cut risk. But lenders will stick to their clients, offering long-term support. "We will behave responsibly and play long term. Thanks to the government's support we have the time to help our clients recover, instead of doing fire sales or acting in a destructive way."
Posted by refusetobuy @ 10:21 AM (395 views) Add Comment
1 Comment
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1. Chris said...
Well, at least they aren't abandoning existing customers, unlike other *certain* high street banks. Obviously no one wants to lend right now, understandably so, it's probably a good strategy to hedge your bets for now and ride it out.