RBS Gogarburn
RBS has confirmed it is to wind down its shipping finance business, ending its attempts to sell it off.
A spokesman for the bank, which is in the midst of a wholesale restructure under chief executive Ross McEwan, said: "In line with the bank’s strategy to create a simpler, stronger, and more sustainable bank, better aligned to the needs of our customers in the UK and Western Europe, we are commencing the wind down of our shipping business.”
The spokesperson said the bank would be offering support to affected staff and, including redeploying people to other positions where possible.
The bank’s total shipping exposure is thought to be about £6.8 billion.
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