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Bad debts force hand of RBS
Bad debts force hand of RBS
Last Modified: 18 Apr 2008
By:
Katie Razzall
Hit by bad debts, Britain's second largest bank is thought to be going cap in hand to its shareholders.
Reports suggest the Royal Bank of Scotland will announce a rights issue worth between £5bn and £12bn - making it the biggest in British history.
Shareholders would be asked to come up with the extra cash to shore up the bank's balance sheet.
RBS won't comment on the reports, saying it would give a trading announcement before its annual general meeting next week.
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