RBS and NatWest 'will assist riot-damaged firms'

16 August 2011

Written by Steve Olejnik

Firms harmed by the recent rioting can benefit from holidays on repaying their commercial mortgages, NatWest and the Royal Bank of Scotland (RBS) have announced.

"The riots that affected communities across the UK have destroyed and damaged the homes of a number of our customers," RBS UK Retail Banking chief executive officer Brian Hartzer said.

"RBS and NatWest will do all we can" to support the victims at this time, he continued.

Mr Hartzer noted many clients have already contacted the financial institutions and urged those that have not to do so as soon as possible.

Further benefits the companies will provide include temporary increases of overdrafts to cover emergency bills, the waiving of certain fees incurred due to the lawlessness and short-term financing to replace stock looted by criminals during the disturbances.

Small business chairman for NatWest and RBS Peter Ibbetson proclaimed it to be important to the UK's economy that the enterprises damaged in the riots begin trading again as soon as possible.

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