THE part-taxpayer owned Royal Bank of Scotland has declined to comment on reports it is set to embark on a massive cost-cutting drive which could lead to thousands more jobs being axed.
Sky News reported last night that new chief executive Ross McEwan is poised to enter talks with the Treasury about reinstating dividend payments.
This would require buying out an instrument called the Dividend Access Share (DAS), a move likely to cost around £1 billion and requiring EU approval.
It comes as the bank lays out its third-quarter results today, with "substantial cost reductions" also rumoured to be in the pipeline.
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