Selling the state’s stake
The spotlight on Stephen Hester, RBS chief, is unlikely to abate any time soon. Results revealed that despite a jump in operating profits, regulatory fines and restructuring charges left the bank with a £500m loss. The lender is also likely to miss its deadline to sell 300 branches to comply with EU state aid rules. Lex’s Stuart Kirk and Oliver Ralph discuss how the lender’s restructuring programme is shaping up and when the government might start to sell down its 82 per cent stake.