ROYAL Bank of Scotland’s Boost scheme looks like a valuable initiative but may not do as much to repair the damage done to its reputation in small business circles by other actions as directors hope.

The giant lender is to be applauded for trying to use its sprawling network of connections and huge knowledge base to help firms deal with important issues such as how to guard against cyber crime.

In a fast changing world small businesses are likely to appreciate the expertise on offer and related opportunities to make new connections.

But it will take lots of reports from happy users of Boost to help dispel the unease caused by the behaviour of Royal Bank’s Global Restructuring Group following the financial crisis.

In November the City watchdog accused Royal Bank of “systematic” failings in the restructuring group, which led to the mistreatment of thousands of small business customers. The bank has set aside £400m to compensate customers that complain about the unit’s behaviour.

While RBS insists it is open for business, small firms continue to face challenges obtaining credit on what they regard as suitable terms.

Other banks may face criticism for their lending records and for branch closures.

However Royal Bank’s closure programme has been particularly high profile. The recent decision to close nine branches in Edinburgh likely did little to endear the brand to business or retail customers.