RBS chief offers to save six bank branches to avoid grilling from MPS

The chief executive of RBS is in talks with MPS to save six bank branches slated for closure in order to avoid an embarrassing appearance before a House of Commons committee, it has been claimed.

Ross Mcewan has offered a deal to the Scottish affairs select committee to avoid giving evidence, a daily newspaper reported.

It comes amid a row between Scots MPS after the SNP Westminster leader was accused of putting the deal at risk.

Ian Blackford went public at the weekend with news of a bigger deal that could save more than a dozen branches, claiming he had held “productive” talks with RBS bosses and accusing Scottish Conservatives of “failing to lift a finger”.

However, there was no announcement of a breakthrough yesterday. An RBS source was quoted saying that Mr Blackford’s intervention was “not helpful”.

A source close to the Scottish affairs committee said: “RBS were ready to withdraw six branch closures, hoping that would have avoided Mcewan appearing at the committee, but now Blackford is trying to claim the glory for himself.”

RBS plans to shut the last remaining bank branch in 13 towns and villages, as part of a wave of 62 closures across Scotland.

Mr Mcewan was in frotn of the Treasury select committee last week over the conduct of the RBS Global Restructuring Group, which is accused of driving business clients into debt in order to pile up interest payments and scavenge their assets.

The government retains a 72 per cent shareholding in RBS, which was bailed out by the taxpayer in 2008. In November’s Budget, the Treasury announced that shares will be sold from March 2019 despite being valued at £26 billion less than was paid.