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Royal Bank of Scotland

HM Treasury written question – answered on 12th January 2018.

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Photo of Ian Blackford Ian Blackford SNP Westminster Leader

To ask Mr Chancellor of the Exchequer, Energy and Industrial Strategy, when his Department was first made aware of plans by the Royal Bank of Scotland to close 259 of its branches.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors, including RBS, as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

The decision to open or close branches is a commercial matter, in which the Government does not intervene.

RBS Group retains its own board which is responsible for commercial and operational decisions, including in relation to its branch network. The Government’s shareholding in RBS Group is managed at arm's length and on a commercial basis through UK Financial Investments Ltd, a company which is wholly owned by the Government.

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