Future of state-backed UK lender RBS set to be cleared up

The future of Royal Bank of Scotland (RBS.L) should become clearer on Friday, with Britain's finance ministry expected to reveal if it wants the state-backed lender to be broken up. Bankers and political sources say the most likely outcome is that RBS, 81 percent-owned by the government, will agree to create an internal 'bad bank' to house more of its problem loans, with the government deciding against a formal break-up. RBS Chief Executive Ross McEwan, who took up the role at the beginning of last month, will set out his vision for the bank publicly for the first time. RBS will also unveil its third-quarter results.

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