Royal Bank of Scotland will next week declare its £12bn rights issue a success after all but 5 per cent of shareholders decided to take up their new shares in the record offering.

RBS is expected formally to announce on Monday how many shareholders have taken up their rights. However, people familiar with the matter said Friday they expected about 95 per cent of shareholders to have bought the shares, priced at 200p each. Bankers say that most rights issues have a take-up rate of 97 to 98 per cent.