THE Royal Bank of Scotland has had to apologise for senior executives giving "incorrect" evidence to a Treasury Select Committee earlier this year.
The bank's directors appeared before minsters in June and denied that their Global Restructuring Group (GRG) deliberately bankrupted small firms to earn the state-owned bank extra money.
When directly asked by committee chairman, Andrew Tyrie, bank bosses repeatedly said that GRG was not a money-making part of the bank
Mr Tyrie branded the evidence as "unacceptable" and letters released this week reveal that RBS chairman Sir Philip Hampton said some of the evidence "lacked clarity", by stopped short of saying anyone from RBS had deliberately lied to MPs.
For months there have been allegations that some viable companies were deliberately forced to close by GRG in order to prop-up the ailing bank.
It means hundreds small business owners were forced to close when "support fees" were added to their loan repayments.
