When will they ever pay it back? People are dying of starvation and homelessness on the street. Do they have special privileges for not paying back because Prince Charles is involved there?
The delays are due to heavy fines and offloading William & Glyn plunging the bank into £936million in red in the first quarter.
RSB is 73 per cent owned by the taxpayers and was bailed out with £45billion during the Credit Crunch. It has a heavy fine coming from US authorities for the way it sold mortgage bonds, hanging over it. It is in danger of another fine if it will not complete the action of W & G branch network by next year's deadline to meet EU state and rules following its £45billion bailout.
Experts assumed that it could be a decade till shareholders will see a penny. A £1.2billion payment to the Treasury to remove the Government's prior claim on dividends. It added a further sum to the already debts of £459million.
The owner of NatWest promised a £421millon operating profit but the charge of £228million to sell a shipping portfolio and cost of £238million for reorganisation reduced the profit.
RBS almost doubled its mortgage lending to £7billion when there was an increase interest in buy to let. It shot up to £!.5billion from £800million from the previous year. Commercial lending reached £6.5billion for the fifth continuous growth in loans to companies.
Chief executive Ross McEwan said: "RBS was on track to built a strong, simple fair bank for customers and shareholders, although he acknowledge the W & G spin-off was the most complex project I have seen in banking anywhere in the world." RBS is now looking for an alternative way of separation.
He added: "This bank has great brands and great market positions and piece by piece we are building a solidly performing profitable bank doing great things for customer returning value for shareholders."
The owners of many banks lost virtually everything in the banking crisis
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