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Pete Lawrence - 11 Oct 2016


Scandalous! And there was me thinking banks were there to help small businesses....

The Royal Bank of Scotland crushed thousands of businesses during the financial crisis to increase its own profits, leaked documents show.

The Independent business news leads on this headline "RBS systematically destroyed its customers’ businesses for profit, leaked files show"

Reports say "Internal emails handed to BuzzFeed News and the BBC show the bank implemented a plan to squeeze customers facing financial difficulty and gave bonuses to staff for identifying struggling firms. 

RBS then bought assets at rock-bottom prices once companies hit difficulties, often selling them at a profit. It also hit them with large fees, driving many into the ground and boosting its own bottom line, the documents confirm."


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