Nov. 27 (Bloomberg) -- Royal Bank of Scotland Group Plc, Britain’s biggest government-controlled bank, signed an agreement to join the government’s Asset Protection Scheme and will hold a shareholders’ meeting on Dec. 15 to seek approval.

RBS on Nov. 3 said it would receive a 25.5 billion-pound ($41.6 billion) capital injection from the government to join APS, insuring 280 billion pounds of risky assets including corporate and real estate loans. The 70 percent government-owned bank received 20 billion pounds of capital from the U.K. last year after reporting the biggest loss in British corporate history.

Edinburgh-based RBS said it will post a circular to shareholders on its Web site later today.

To contact the reporter on this story: Jon Menon in London at jmenon1@bloomberg.net

Last Updated: November 27, 2009 03:19 EST