Royal Bank of Scotland today announced its plan to sell assets, raise capital and cut costs. The battered bank vastly overpaid for its recent acquisition of investment banking and Asian operations of ABN Amro. The bank now suffering from losses in mortgage loans and slow down in investment banking business has seen its Tier 1 capital ratio as low as 6%. RBS plan to raise £12 billion in the largest rights issue ever in London, but will not cut its dividend for now. |
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