RBS Steps In to Support SMEs with Brexit
The Royal Bank of Scotland laid away £2 billion to support SMEs with trade finance, term finance and increased liquidity as they handle Brexit.
According to the article SMEs rely on EU labour markets and exposure to foreign exchange movements.
During this time UK banks have anticipated concerns related to Brexit’s effect on supply chains and financial risks for SMEs and are creating preparations.
Alison Rose, chief executive of RBS commercial and private banking, said that Brexit “will require businesses to think strategically and tactically about how to navigate what is still an uncertain period ahead.”
The £2 billion fund will be added to an existing £1 billion 'growth fund' programme, according to the article.