Small business help announced by bank

Date: 1st December 2009

A customer charter for small business clients of a part-nationalised bank has been launched.

NatWest and RBS claimed that the document, which includes a 1.5 per cent cap on loan and overdraft fees for businesses with turnovers of £25 million or below, would provide extra "support" for the firms.

The firms also highlighted its previous record of business support, pointing out that 90 per cent of firms had received a renewal of their overdrafts at the same or a lower interest rate than before.

Around 2,000 start-ups are also being supported via financing each week, according to the firm's own data.

Peter Ibbetson, chairman for small business at NatWest and RBS, said: "Throughout the year we have been listening to our customers to understand the issues from their side.

"Whilst we've led the field with a series of initiatives supporting them through the key stages of a recession, it's important we stay close to their needs and find new ways to support their growth in the months ahead."

RBS, which owns NatWest, participated in the government's 2008 recapitalisation scheme, launched at the height of the credit crunch.

It is now around 70 per cent public-owned.

Posted by Anthony Burns