Tuesday, 26 June 2012

NatWest brand has been damaged.

The recent week long computer glitch at NatWest and RBS has, in my opinion, caused great damage to their brand image. The RBS brand has already been tarnished in the credit crisis, but this is a new low for banking. I wonder how many customers will go elsewhere with their accounts? Imagine if RBS had been successful with its ABN Amro bid, how much bigger would this mess be? In my opinion this is a true example of zombie banks. While other banks that were less affected by the financial crisis, they will be getting on with business as usual, RBS and NatWest cannot expect things to be the same. Nobody seemed to care during the credit binge. RBS has shed 30,000 jobs in the last 2 years. Can we expect business proceedure to be any different? You bet.


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