June 6, 2022
According to NatWest CEO Alison Rose, the cost of living crisis poses challenges because many businesses and customers have never seen high inflation or increased loan rates.
She told BBC Scotland that firms on the bank’s books are losing trust.
Ms Rose attributed the problem to supply chain issues, high energy bills, and a lack of skilled workers.
The invasion of Ukraine by Russia has “exacerbated” people’s concerns, she noted.
Ms Rose stated that the impact of inflation, increased interest rates, and the invasion of Ukraine has produced a “worry” for business about “confidence to grow” three years after she took over the top job from Ross McEwan and renamed Royal Bank of Scotland, or RBS, with the Natwest brand.
“We’re still seeing positive tailwinds from the pandemic recovery as companies scale back up,” she added, “but business confidence is obviously being impacted.”
Source: BBC
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