June 5, 2018 / 6:30 AM / a year ago

RBS share sale important for putting financial crisis in the past - Hammond

Britain's Chancellor of the Exchequer Philip Hammond attends a meeting of regional leaders of the financial and professional services in Halifax, Britain, May 17, 2018. REUTERS/Craig Brough

LONDON (Reuters) - The Chancellor of the Exchequer said on Tuesday that the sale of a 7.7 percent stake in RBS (RBS.L) was an important step forwards after a financial crisis which led to a government bailout of the bank in 2008.

“This sale represents a significant step in returning RBS to full private ownership and putting the financial crisis behind us,” Philip Hammond said in a statement.

“The government should not be in the business of owning banks.”

Reporting by Alistair Smout; editing by Guy Faulconbridge

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below