Page 32 - RBS GRG F Case Study

The internal Memo was written in 2009 and entitled ‘Just
Hit Budget’, had previously been reported on but not put

in the public domain. The Treasury Select Committee
published it in full.

RBS distanced itself from the document, which was

circulated within one regional office and was distributed

to two further GRG offices saying it was produced by a

junior manager no longer employed by the bank and was

not reflective of RBS or the GRG's policy.

In a letter to the committee’s chairman McEwan said of

the internal memo: “At no time did it form part of GRG or
RBS policy.” Moreover, “The culture, structure and way

RBS operates has changed fundamentally since the

period.” (23)

The papers also

included a 16-page

guide called "ways to

generate income". Top

of the list is the

suggestion that clients,

SMEs who had been put

into the GRG because of financial troubles, be charged

around 10 per cent of the debt owed in the full

knowledge they could not usually pay. (23)