RBS exec: sale of stake soon

THE taxpayer’s stake in Royal Bank of Scotland could be sold off in as little as two years, according to outgoing bank executive Brian Hartzer.

“My sense would be that we are probably a couple of years away now,” he told Sky News’ Murnaghan show, adding that selling the shares would make people more willing to invest in the bank and would allow RBS to be run on a more commercial basis.

Treasury sources had said the chance of a sale before the general election in 2015 was “virtually nil”.

Hartzer was RBS’s chief executive of retail and wealth for two years.