No slowdown at RBS offshore

Friday 30th May 2008, 2:59PM BST.

THE offshore operation of Royal Bank of Scotland has not yet seen the impact of the global credit crisis.

But although senior practitioners are bullish about Jersey’s future, they forecast that the Island will see an impact at some stage.

RBS is one of the major banks asking shareholders to bolster funds and last month announced a £12 billion rights issue — one of the largest in corporate history. The group employs more than 1,000 staff in Jersey, including its NatWest and Coutts operations as well as at RBS International.

Stephen Reilly, from the RBS treasury and investor solutions team, said that Jersey was in a different position to the UK.

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