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Royal Bank of Scotland closes its "bad bank"

Royal Bank of Scotland has closed its so-called "bad bank", which was set up to handle toxic assets stemming from the 2008 financial crisis.
 
The move is another step on the bank's road to recovery.
 
In last week's budget, the British government revived plans to sell down its 72% stake in the bank, aiming to sell £15 billion of its shares by 2023.
 
Earlier this week, RBS passed the Bank of England stress test, having failed in 2016.


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