RBS to focus on domestic retail banking
Downsizing of investment banking and international operations may cost 30,000 jobs
London
ROYAL Bank of Scotland (RBS) is to shrink its investment banking and international operations in a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said.
The part-nationalised bank has given in to demands from politicians that it focuses on lending to British households and businesses, and maintains only a downsized investment banking business to service corporate clients, one source said.
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