Royal Bank of Scotland intends to withdraw from international operations. According to Bloomberg, the Bank turned to 3 thousand of its clients who have such operations, to expedite the process of finding alternative financial institutions.

RBS warned that the current accounts, cash management, and settlements for international trade transactions, most likely, will not be available after December 31.

According to reports, from RBS about 7 thousand customers in 32 countries, which commit the global transaction. Within 18 months they will need to find other banks. More than half of customers have shifted.

RBS decided to concentrate on the UK market. Banking operations outside the UK and Ireland require too much investment costs in the technology needed to service customers.

Royal Bank of Scotland winding down for international transactions 25.08.2016

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