A very senior source at RBS Group affirms that the RBS IT is so antique and complex that the marvel is that they don't have a major IT issue ever day. Yet the Williams & Glyn operation is going to be dependent on "a clone"?? What Planet are they on?

Presumably this is part of the same complex financial structuring and IT cover up that I hear sank the bid process last year. As I understand it the best bidder in last year's offer process was turned down because the sellers knew the IT would fail due diligence and it had to be sold to a "friendly party". fyi: Someone should ask Tesco Bank how it is going with their RBS clone!

Also Read Alex Brummer's book on Bad Banks for confirmation that Lloyds Bank IT was a shambles at the time of Co-op "take-over" bid.

Planet Zog for sure. Where all in banking is never of this world.