RBS seeks investor backing for share buyback plan
Reuters
Published Jan 17, 2019 11:27AM ET
RBS seeks investor backing for share buyback plan
LONDON (Reuters) - State-backed British bank Royal Bank of Scotland (L:RBS) is to consult with shareholders on plans for a buyback of its shares owned by the Government, using excess capital to accelerate its return to private ownership.
The lender told investors it would hold a general meeting on February 6.
RBS is 62.3 percent owned by British taxpayers, following its 45 billion pounds ($58.13 billion) bailout during the financial crisis.
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Written By: Reuters
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