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Page last updated at 10:31 GMT, Tuesday, 3 November 2009

RBS and Lloyds in major shake-up

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Royal Bank of Scotland and Lloyds Banking Group are being forced to sell off nearly 1,000 of their branches in the biggest shake-up of the banking system in years.

The sell-off is to safeguard competition concerns about the banks, which were bailed out last year by the taxpayer.

Cash bonuses have also been cancelled for this year for staff on salaries over £39,000. Hugh Pym reports.

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