Royal Bank of Scotland confirms it is considering rights issue

LONDON (Thomson Financial) - Royal Bank of Scotland Group PLC confirmed it is mulling a rights issue without saying how much it might seek to raise.

RBS, the UK's second-biggest bank, said in a brief statement that it was considering a rights issue, adding that it would make a further announcement 'in due course.'

On Friday, Thomson Financial News and other publications reported that the bank was preparing a rights issue of up to 12 billion pounds to replenish its capital reserves, depleted by write-downs related to the credit crunch and its acquisition of parts of Dutch rival ABN Amro last year.

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