The Royal Bank of Scotland (RBS) has claimed it is owed as much as &pound;163;500 million by a failed Icelandic bank.<br/><br/>Glitnir, which collapsed during 2008 and is now run by the island nation’s government, is thought to be one of RBS’ major creditors and the British banking group could stand to lose out as a result, it has emerged.<br/><br/>A spokesman for the firm suggested that its losses would amount to no more than &#163;50 million.<br/><br/>Under the UK government’s asset protection scheme the taxpayer’s stake in RBS, which is already state-owned, is set to increase to 84 per cent.<br/><br/>If RBS is unable to recover all the money which it is owed by Glitnir, banking graduate schemes could be negatively affected and the number of places available could be cut.<br/><br/>Recently, British banks were caused anxiety when Dubai World requested an extension on its debts, many of which are owed to UK financial services firms including RBS.<br/><img alt=”ADNFCR-2605-ID-19535581-ADNFCR” src=”http://feeds.directnews.co.uk/feedtrack/justcopyright.gif?feedid=2605&itemid=19535581″ />

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