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  5. Update on the disposal of Williams & Glyn

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Update on the disposal of Williams & Glyn

28 Apr 2016 13:55

RNS Number : 6974W
Royal Bank of Scotland Group PLC
28 April 2016
 

 

 

The Royal Bank of Scotland Group plc  

 

28th April 2016

 

Update on the disposal of Williams & Glyn

Since the last update provided with the 2015 Annual Results, we have undertaken further extensive analysis on the separation and divestment of Williams & Glyn. As a result of this analysis, we have concluded that there is a significant risk that the separation and divestment to which we are committed will not be achieved by 31st December 2017. Due to the complexities of Williams & Glyn's customer and product mix, the programme to create a cloned banking platform continues to be very challenging and the timetable to achieve separation is uncertain. RBS is exploring alternative means to achieve separation and divestment. The overall financial impact on RBS is now likely to be significantly greater than previously estimated.As scheduled, we will be announcing our Q1 2016 results on Friday, 29th April 2016.

 

For further information please contact:

 

Investor Relations+44 (0) 20 7672 1758

 

RBS Media Relations+44 (0) 131 523 4205

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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28th Apr 20161:55 pmRNSUpdate on the disposal of Williams & Glyn
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5678910111213

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