23rd Oct 2018 10:53
LONDON (Alliance News) - Royal Bank of Scotland Group PLC has set aside GBP2 billion in funding to help small businesses navigate Brexit uncertainty, the Financial Times reported Tuesday.
RBS said the money will help businesses deal with supply chain issues and any financial risks that could potentially arise from the UK's departure from the EU, according to the newspaper.
The Financial Times reported the FTSE 100-lender could use the money to provide services such as trade finance, term finance and increase liquidity for small and medium-sized enterprises which rely on EU labour markets or have exposure to foreign exchange movements.
RBS will be contacting about 2,000 existing RBS and NatWest customers that it thinks would benefit from the services.
https://www.ft.com/content/f5a1dfd4-d5df-11e8-a854-33d6f82e62f8
Shares in RBS were down 0.8% Tuesday at 233.10 pence each.
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