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RBS under pressure from minority holders

The state-controlled bank is under renewed pressure from minority holders
January 8, 2018

Fresh from the controversy over the decision to close 259 branches (including NatWest), a move characterised by the Unite union as "morally bankrupt", the board of the Royal Bank of Scotland (RBS) is now faced with further shareholder rebellion.

IC TIP: Hold at 278p

With the backing of advocacy groups ShareSoc and the UK Shareholders’ Association, over 100 shareholders in RBS have requisitioned a resolution to install a "Shareholder Committee" at the banking group, which will include shareholder representatives, in a bid to improve corporate governance and shareholder engagement at RBS. This is effectively the second attempt to force the state-backed bank to set up a shareholder committee after an initial bid was rejected on legal grounds last year.