NatWest and RBS: EIB funding announcement

Peter Ibbetson, Chairman of Business Banking commented, "NatWest and RBS welcome the EIB's pledge to increase lending to SMEs by almost 30% in both 2009 and 2010, and confirms its commitment to the scheme with the receipt of £250 million funding.

“The support will be made available to both NatWest and RBS Business Banking and Commercial customers at the end of January.

This is one of a number of measures that NatWest and RBS have made available to support SMEs as they trade through the economic downturn. In addition to continuing to provide committed overdrafts, we have also pledged not to increase overdraft pricing for small businesses as well as launching a freephone SME helpline, called Business Lifeline."