Skip to content
Subscriber Only

RBS Chairman Plays Down U.K. Bank Nationalization Under Labour

  • U.K. financial stocks are “unloved” by investors, says Davies
  • Bank is still majority state-owned a decade after its bailout

Royal Bank of Scotland Group Plc Chairman Howard Davies shrugged off the prospect of a Labour-led U.K. government re-nationalizing all of the state-backed lender as the chances of an election grow more likely.

Davies said in a Bloomberg Television interview that any Labour government led by Jeremy Corbyn would have other things on its mind, saying the nationalization of water utilities and railways seemed more probable.