RBS chairman signals long-term investment in Bank of China

LONDON (AFP) — The chairman of Britain's Royal Bank of Scotland signalled in an interview published Monday that the group would hold on to its stake in Bank of China for the long-term.

Gordon Pell's comments to the Financial Times came in spite of RBS's financial struggles and the increase in value of its stake in Bank of China, one of the Asian country's big four state-owned lenders.

RBS has had to deal with huge write-downs and the blockbuster takeover of Dutch bank ABN Amro in recent months, and said last month that its 12-billion-pound (15-million-euro, 24-million-dollar) rights issue had received ...