RBS to focus on domestic retail banking
Downsizing of investment banking and international operations may cost 30,000 jobs
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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.
