BAD ACTIONS OF THE FEW DAMAGED ROYAL BANK OF SCOTLAND.

BAD ACTIONS OF THE FEW DAMAGED ROYAL BANK OF SCOTLAND.

WISHART COMMENTS ON BANK BOSS EVIDENCE SESSION.

Following evidence sessions with representatives of Lloyds Banking Group and Royal Bank of Scotland today (Thursday) at the Scottish Affairs Select Committee, SNP member of the committee, Pete Wishart MP, said:

“Just like Labour ministers, the banking bosses have a lot of explaining to do, and this was certainly a useful session.

“Of particular note was Gordon Pell’s confirmation that the staff involved in the credit markets division of RBS, which lost £8bn, were not Scotland based. That is small comfort, of course, but an endorsement of the ordinary staff the length and breadth of these banks who have been dragged down by the actions of relatively small group of individuals.

"It was the frivolous actions of the few - in banking and in the UK Government - that have damaged Scotland's banks.

“I am encouraged at assurances from both Lloyds and RBS at continued commitment to Scotland in terms brand and headquarters functions, but most of all we need assurances on jobs.

“In the week that unemployment surged past the two million mark, it is essential that we learn the lessons from Gordon Brown’s Age of Irresponsibility which has caused so much damage to our financial services.”

At the Treasury Select Committee, Stephen Hester said that the number of people involved in the credit markets part of RBS that lost £8bn was 500. That's 500 employees out of RBS's 180,000 employees. At the Scottish Affairs Committee today Mr Pell confirmed that “zero” staff in Scotland had been involved.