Royal Bank of Scotland confirms rights issue plans
The UK’s second biggest bank today confirmed it was considering plans to ask shareholders for billions of pounds in extra funding.
Royal Bank of Scotland told the stock market that it was “considering a rights issue” and would make a further announcement “in due course”.
The bank – which could ask shareholders for as much as £12bn (€15.1bn) – is looking to strengthen a balance sheet weakened by losses from the credit crunch and its acquisition of Dutch rival ABN Amro last year.
It is expected to give more details of its plans to investors tomorrow.
