Responding to RBS’ 2018 results, which show profits doubling to £1.62bn, and a £977 dividend payment to the government, Fran Boait executive director of Positive Money said:

“Another dividend payout should cast even further doubt on the government’s plans to sell the public’s majority stake in RBS at a loss.

“It’s beyond clear that an RBS fire sale is not in the public interest. The government must rethink the sell-off and consider how a publicly owned bank can best benefit the whole country.”

Notes

The results come a day after YouGov polling commissioned by Positive Money found that only one in ten support the government’s RBS strategy, with most believing that a privatised RBS would not work in the public interest.

Fran Boait, executive director of Positive Money is available for briefings and interviews. Please call 07908 037569 to arrange.

About Positive Money

Positive Money campaigns for a money and banking system which supports a fair, democratic and sustainable economy. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of over 65,000 supporters.