Lack of respect from RBS executives

Managers of RBS did themselves very few favours during yesterday’s grilling by members of the Scottish Affairs Committee. The proposed closure of branches north of the border — including several in Tayside — was met with fierce opposition.

Crucially, it is not just politicians who have expressed their disgust. Members of the public too have reacted with horror.

Regardless, RBS bosses not only declined to roll back on closure plans but refused to rule out future cut backs.

It represents an astonishing slap in the face for the institution’s millions of loyal customers.

Banks must be more than mere corporate ventures — they have a vital role to play in their communities, helping small businesses to thrive and assisting often elderly and vulnerable residents to manage their money.

Amid staggering revelations that bonus payments for top RBS executives outstrip the savings from shutting dozens of Scottish branches by millions of pounds, one wonders if any lessons have been learnt.

Lest we forget, RBS was in such a precarious financial position just a few short years ago it needed a bail-out from the public to survive. Even now much of the bank is owned by taxpayers.

Sadly it seems its current managers have rather short memories.