RBS would leave Scotland in case of independence

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RBS would leave Scotland in case of independence
Sep 11, 7:58 AM EDT

LONDON (AP) -- In a blow to the Scottish independence campaign, three top financial groups, including the Royal Bank of Scotland, say they will move headquarters to England should Scots vote to break away from the United Kingdom.

RBS, which has been based in Scotland since 1727, said Thursday it has drawn up contingency plans because being based in an independent Scotland would create uncertainties that could hurt its business and customers.

"There are a number of material uncertainties arising from the Scottish referendum vote which could have a bearing on the bank's credit ratings, and the fiscal, monetary, legal and regulatory landscape to which it is subject," the bank said in a statement.

The bank, a key employer in Scotland and a symbol of its financial sector, also said it would be necessary to re-domicile its holding company and its main operating entity, the Royal Bank of Scotland PLC, to England.