Rbs Must Resist Any Push to Irresponsible Lending, Says Executive

Summary

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THE Royal Bank of Scotland must not be pushed into "irresponsible lending" to meet further UK government lending quotas, according to its head of corporate banking.

In a precursor to the coming battle between the banks and the Government over more lending targets once this year's Project Merlin agreement runs out, Chris Sullivan, chief executive of the UK corporate and business banking division, said "it would not be good for the economy" if the banks were asked to lend to businesses which might not be able to pay it back. In other words, any target that was set too high would be damaging to all concerned.

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Rbs Must Resist Any Push to Irresponsible Lending, Says Executive

As Friday's update on Project Merlin confirmed that RBS has exceeded its targets for the first half of the year - though there are many critics of t...

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