Despite all that other stuff RBS picks up a top award
Royal Bank of Scotland tonight won the annual Scottish financial services award…on the day it was held responsible for a third of all branch closures in the UK.
The award, organised by Scottish Financial Enterprise, was presented to an audience at the EICC.
RBS was the bank that promised to keep open the last branch in town. That pledge was ditched on the altar of changing circumstances.
A report out today by the Move Your Money campaign group found that RBS shut 385 branches across Britain over the past year, more than a third of the 1,150 closures across the UK. Of these, 165 were the last banks in their respective towns, 55% of all last bank in town closures over the last two years.
Aside from closing branches everyone knows RBS hardly has its troubles to seek. Sceptics might reasonably question why a bank that is still making losses and setting aside millions to meet compensation payments and fines for bad behaviour should be handed a prize.
Apparently it was for its work with start-ups, essentially its backing for Entrepreneurial Spark, the incubator programme. RBS has donated a wing at its Gogarburn HQ as ESpark’s Edinburgh base and provides support for those on the scheme.
Let’s just hope those start-up firms aren’t needing to pop into a branch of RBS any time soon.