Royal Bank of Scotland (RBS) warned Thursday, September 11 it would move its headquarters to England if Scotland chooses independence in a historic referendum next week.
The declaration of this iconic company, based in Scotland since 1727, comes as the British political leaders step up efforts to deter the Scots to opt for secession.
They highlight the negative economic consequences that they believe independence of the region, which could occur within 18 months after the referendum of September 18, if the Yes vote in this poll.
“Many uncertainties surround the Scottish referendum that could have an impact on the fiscal, monetary, legal, control system and the rating of the bank,” said RBS in a statement.
“For this reason, RBS has put in place a plan to deal with possible consequences for the business community to vote ‘yes’ (…). In this context, RBS think it would be necessary to redomicilier headquarters (now in Edinburgh, editor’s note) and its main operational arm in England, “said the bank.
No impact on Customers
She said that any change of domicile would have “no impact on customers of the British Isles”, whether in Scotland, England, Wales or Ireland North (the constituent territories of the United Kingdom.)
“However, RBS think it would be the most effective method to clarify the situation vis-à-vis our shareholders and reduce risk, “said the bank.
Wednesday evening, another British banking giant Lloyds announced it would” create new legal entities in England “if Scotland became independent.
After the race since the beginning of the campaign, the camp of “no” to independence has been caught up in the polls by supporters of the “yes” and both parties now seem elbow to elbow.
(with AFP)
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