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STOCKS FOCUS: RBS
Sunday Herald, The, Apr 20, 2008
ROYAL Bank of Scotland (RBS), Britain's second largest bank, has conceded that it plans to raise around GBP10 billion to improve its financial position through one of the biggest rights issues in corporate history. The Edinburgh-based owner of NatWest, the Ulster Bank and the insurer Direct Line is due to give a trading update on Wednesday next.
Last week, RBS was among the banks meeting at Downing Street to discuss the current credit crisis, and analysts believe that others will also take steps to raise extra capital. Shares closed at 384p.
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