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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.

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By GlobalData

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.

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