Britain's biggest ever rights issue by RBS - 12 billion pounds

Chairman Tom McKillop of RBS, confirmed on 22 April 2008, that it raising 12 billion pounds (approx $ 23 billion) through a heavily discounted rights issue after making heavy losses in Sub Prime Mortgages, and deterioration in credit market conditions. It is Britainís biggest ever rights issue.

Fred Goodwin, Group CEO of RBS, and Lawrence K. Fish, Chairman and CEO of Citizens Bank are Board Members of RBS for many years. They are like herd bankers, and should either be dismissed or resign from their positions for their incompetent decisions.

The Bank should focus on providing quality products and services to its clients, which are delivered in an efficient manner at competitive prices rather than indulging in highly speculative ventures. The essence for the RBS Bank and its various subsidiaries is also to provide quality and efficient services to its customers. Top executives should be available for serious complaints from their clients instead of hiding behind massive Bureaucracy of the bank.

 

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