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RBS says it has not ruled out move into sub-prime

Royal Bank of Scotland has not ruled out a move into the sub-prime market as the group posted strong profit forecasts.

The firm says it is constan-tly reviewing its strategy to determine whether to launch into the adverse sector.

RBS is one of the big lenders yet to either launch sub-prime deals or confirm an interest in doing so. Woolwich, another big lender yet to move into sub-prime, says it has absolutely no plans to do so at present.

Last week, RBS revealed it is slightly ahead of profit forecasts for the year, which saw its share price surge on the back of the optimistic note.

However, its RBS Intermediary Partners operation, launched in February, is still attracting criticism for not having full on-line capab-ility although the lender has pledged to have that in place by its one-year anniversary.

An RBS spokeswoman says: “Currently, we do not participate in the sub-prime mortgage market. Like all areas of the market, the strategy is reviewed on a regular basis to determine whether the current offering meets our customers’ needs.”

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