RBS is to announce plans to spend £175m ($268) on its 300 branch strong Scottish network.

The £175m retail banking investment aims to focus on branch refurbishment, new ATMs and deposit machines.

These investments will be announced at today’s AGM in Edinburgh.

Confirmation of this investment is partnered with an announcement that RBS will also spend £450m on IT investments.

At the AGM, RBS are likely to face questions from shareholders over the IT glitches that affected 17m customers’ accounts last summer.

Shareholders will also be updated on the rebuilding of RBS, which is currently 82% owned by the taxpayer.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition to these investments and progresses RBS may face disconcertion over a reported £607m in staff bonuses and branch closures.

Ross McEwan, CEO, UK retail banking, RBS, said about 10% of RBS’s UK branches were likely to be axed. He added that RBS would consider any closure of the last bank in town on "individual merits".

RBS currently has a total UK branch network of 2,050.

Related articles:

RBS Q1 results sparks talk of govt stake sale

FCA to investigate RBS IT glitches

RBS suffers further technical problems