May 11, 2018 / 8:32 AM / 2 months ago

RBS boss says more branch closures possible due to Williams & Glyn transfer

LONDON, May 11 (Reuters) - Royal Bank of Scotland could close more branches in England and Wales as a result of transferring customers to competitors from its Williams & Glyn unit, CEO Ross McEwan told LBC Radio on Friday.

McEwan said more closures could come as a result of the transfer of around 120,000 small business customers to rivals to allay competition concerns following its 45.5 billion pound bailout in 2008, expected to complete by the end of the year.

“I don’t know at this point,” he said in response to a question on the possible size of the closures.

“We’ll have to wait until the end of the year to see what... footfall disappears when we move these customers out.” (Reporting by Emma Rumney, editing by Huw Jones)

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