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Entrepreneurs Panel

Michael Oliver
Tony Caldeira
Brian Hay
Debbie Pierce
Jennie Johnson
David Pollock
Laura Tenison
Charlie Mullins
Julie Meyer
Jeremy Roberts
Richard O'Sullivan
Steve Purdham

RBS shuns some SMEs

Royal Bank of Scotland is planning to group some small business customers into a division where they will only be able to borrow more money when existing loans need to be restructured.

The move, reported in The Times, is revealed in a memo sent last week to senior staff in the state-controlled bank’s SME division.

The Times said firms most likely to be singled out would be those who have borrowed against property or who are paying 2 per cent above the Bank of England base rate. RBS is now losing money on many of these loans.

According to the report, the memo says “new lending to non-core customers will only be provided once the existing debt has been restructured or repriced” and then adds: “There is no need to advise customers of these changes at the moment.”

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