RBS is the latest British bank to return to profit, with the 84% state-owned bank reporting a first-half pre-tax profit of £1.14bn yesterday. This prompted Co-Chair of the Liberal Democrat Treasury Policy Committee, Stephen Williams, to make call for RBS to make greater efforts to assist UK firms:
RBS is almost entirely owned by the taxpayer, so these huge profits must be used for the national interest and not just to pay massive bonuses to senior staff. There is no excuse for RBS not to loan to good British companies that are struggling to get credit. We cannot simply allow banks to go back to business as usual while viable British firms are suffering.”
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