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RBS scraps move to London plans
19 Sep 2014 10:10
Royal Bank of Scotland said it had scrapped plans to move its registered office to England after Scots voted to remain part of the UK.
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Edinburgh-based RBS was one of five lenders that last week said it would move headquarters or operations to England if Scots had voted for independence.
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"The announcement we made about moving our registered head office to England was part of a contingency plan to ensure certainty and stability for our customers, staff and shareholders should there be a 'yes' vote".
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That contingency plan is no longer required," a spokesman for the bank said shortly after the referendum results.
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Three of Scotland's other biggest financial firms - Lloyds Banking Group, Clydesdale Bank and insurer Standard Life - said they were proud of their Scottish roots but did not rule out a move.
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Analysts had said some Scottish firms could move to England even if Scots voted 'no' to independence, to align firms with the location of the Bank of England and remove uncertainty about where they are based.
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