Sir Fred Goodwin will today ask shareholders in Royal Bank of Scotland to support the biggest rights issue in corporate history, The Guardian reports.
The chief executive of the Edinburgh-based bank will be joined by members of the board at an emergency meeting called to ratify a £12bn cash call on investors. The rights issue is intended to bolster the bank's regulatory capital ratios and has put pressure on rivals such as Barclays to do more to build the capital cushions designed to protect customers from the possible collapse of a bank. CREDIT AGRICOLE, FRANCE'S biggest retail bank, will tap shareholders for £4.7bn after writing down a further £950m at its investment banking division in a move that will drastically cut first-quarter ...
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