Banks pledge support for Carillion customers

Royal Bank of Scotland has announced a £75 million package of support to small business customers to help them cope with the Carillion crisis while Lloyds has pledged £50m of aid.

RBS said it would support impacted small businesses and make more finance available if required to top up the dedicated £75m fund. It will offer support to its larger commercial customers on a “caseby-case basis”.

Les Matheson, chief executive for personal and business banking at RBS, said: “The steps we’ve taken to help ease cashflow concerns will be of immediate practical benefit.”

Meanwhile, Lloyds said its aim was to help smaller companies suffering cash flow shortages after the construction giant went into liquidation on Monday.

Gareth Oakley of Lloyds Commercial Banking said: “We know how critical it will be for businesses within Carillion’s supply chain to receive support with their cash flow”