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RBS further hikes Brexit fund for small businesses

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RBS further hikes Brexit fund for small businesses

Royal Bank of Scotland Group PLC increased the size of its Brexit contingency fund for small businesses to £8.2 billion after it found that thousands of customers might be adversely affected by the U.K.'s departure from the EU, Reuters reported.

Established in 2018, the Growth Funding Initiative supports high-growth small businesses, according to the Oct. 17 report. The U.K. state-controlled lender has repeatedly poured in more money into the fund, which currently has £5.6 billion, the report added.