Millions of older people live in fear of scams: Huge number of over-50s now worry about answering the phone or front door
Some drivers are being forced to choose between buying food or insurance, Citizens Advice warns MPs
'Callous' crook who pretended to be an 82-year-old woman to steal her life savings - but his gruff voice was rumbled by Lloyds staff
Forget the US Magnificent 7 - Europe has its own gang of profit-machine stocks which has delivered better growth in 2024
Virgin Media tops list of most-complained about phone and broadband firms to Ofcom
Named and shamed: The big banks and building societies ignoring new rules that let savers open more than one Isa
You could miss out on the dream of retiring to Spain - unless you follow these tips...
What inflation falling means for you: CPI falls to 3.2% - when will it reach Bank of England's 2% target?
BUSINESS CLOSE: UK inflation rate falls to 3.2%; Entain hit by new gambling rules; ASOS posts another big loss
Takeaway orders at Just Eat fell 5% globally in the first three months of the year - but Britain bucks the trend
Food inflation slowest since end of 2021 helped by price falls for meat, crumpets and chocolate biscuits, ONS says
Royal Mail owner IDS rejects proposed bid from group led by billionaire Daniel Křetínský known as the 'Czech Sphinx'
Bailey hints UK will cut interest rates before US as 'perfect storm' sends stock markets tumbling and bond yields rising
ASOS's half-year losses jump to £120m as inflationary pressures and inventory clearance hits turnover
St James's Place paid £213K to HMRC for my inheritance tax bill - but now it's gone missing: SALLY SORTS IT
Best inflation-beating savings rates: Savers can now beat CPI of 3.2% by a fair margin - here's the top deals
How millions of us could be being overcharged by our smart meters - and why they'll make YOU pay to find out
Do YOU understand these 25 tricky home buying terms? Only 60% get fixed mortgage rates - and just 10% grasp gazundering
'Higher mortgage rates are the final nail in the coffin for some landlords' - what higher costs mean for buy-to-let
House prices remain 'on the fence' - ONS reports 0.2% yearly fall but it depends on where you live
'I lost £900 after falling for the Booking.com scam': Holidaymakers warned ahead of summer rush
What to do in a dispute with the taxman: HEATHER ROGERS on how to deal with a tax inquiry - or take HMRC to task
A pension 'pot for life' would be popular but many savers are worried about choosing poorly...
More than half of people accessing pensions cash them out in full... though many may have a good reason

RBS sees costs of Williams & Glyn branch spin off into separate bank rise

Updated: 17:25 EDT, 8 February 2015

e-mail

The cost to RBS of spinning off its Williams & Glyn branches into a separate bank is much higher than previously expected.

The state-backed bank was ordered by the EU to hive off the 314 branches in order to qualify for the taxpayer bailout it received at the height of the financial crisis.

It has already disclosed that the project has cost it £1billion so far.

Big cost: RBS was ordered by Brussels to hive off the 314 Williams & Glyn branches

But fresh reports suggest that the true cost could be as much as £1.5billion – almost as much as Williams & Glyn’s loanbook of £1.6billion.

The new bank will have around 1million retail customers and 200,000 business customers.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.