NatWest will move its headquarters out of Scotland after 294 years if the country becomes independent, chief executive Alison Rose has said.
Ms Rose said the bailed-out bank would be forced to act because it is simply too big for the Scottish economy to support. The lender – which last year changed its name from Royal Bank of Scotland – holds around £770bn of assets, almost five times Scotland’s GDP.
Scotland in the euro would change that. But an independent Scotland with its own currency? Just too big an organisation, too big a balance sheet.