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Banks plan CBI rescue as NatWest ponders return

Brian McBride
Brian McBride: reassured members

NatWest, Lloyds Banking Group and HSBC are in talks about providing several million pounds of short-term financing to shore up the cash-strapped CBI, according to sources.

The lobby group told members yesterday that it was confident of plugging a reported £3m shortfall following the loss of revenue from members who quit in the wake of misbehaviour allegations.

The annual meeting was postponed, but the lobby group president Brian McBride, and director general Rain Newton-Smith held a briefing to update on the financial situation.

It is understood that the banks are involved in supporting the CBI after the government signalled its readiness to re-engage.

NatWest, which was among the high profile companies to resign after the scandal broke earlier this year, has indicated that it could reinstate its membership, Sky News reported.

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