RBS’s shipping business will be wound down, not sold

September 21, 2016

The Royal Bank of Scotland (RBS) has abandoned efforts to sell its $5bn shipping loan portfolio and has begun winding down its global shipping business, reports say. RBS’s overall shipping exposure was £6.765bn ($8.77bn) at the end of June, of which around £6bn is managed by its Capital Resolution Group, its so-called ‘bad bank’, according to RBS data.

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