RBS boss says there's a 'good chance' taxpayer will get money back

RBS building

The chief executive of the Royal Bank of Scotland (RBS) has said there is a 'good chance' that the taxpayer will make its money back when the Government eventually sells its stake in the bank, despite shares currently trading well below its bailout price.

The Daily Telegraph reports that Ross McEwan told LBC Radio: 'We're on a path to making a good bank, and a good bank will get a good price'.

When asked if this will mean the taxpayer recouping the £46bn pumped in by the taxpayer in 2008, he said: 'You've got a good chance of doing that', although he forecast that it will take another "two or three years of hard work" to turn the bank around.

The Government owns 80% of RBS, and unlike Lloyds Banking Group, has been unable to sell any of its stake, with any divestment unlikely before next May's general election.

To access the complete Daily Telegraph article hit the link below:

RBS chief: 'Good chance' of taxpayer making money back

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