RBS branch delay

ROYAL Bank of Scotland has delayed spinning off 300 branches under the Williams & Glyn banner.

RBS was ordered to separate them under the new name as part of a condition of its £46bn bailout during the financial crisis.

But the £1.2bn project has faced a string of difficulties and is now costing an estimated £50m a month. The bank – which also owns Natwest – shocked the City in April by admitting an EUimposed deadline of December 31 next year could be missed.

Sources insisted the rebrand would still go ahead.