RBS to create bank for bad assets

Note: This section contains information in English only.
Source: Bloomberg
One of the largest U.K. banks, the Royal bank of Scotland, plans to create a new internal division to keep there all bad assets. Recently, the U.K. Chancellor of Exchequer George Osborne denied the separation of the RBS into two different banks. The new division will acquire 38 billion pounds of bad debts. Moreover, the bank is going to write off 4.5 billion pounds from profit in Q4.
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