Investec Says Buy Scottish Banks, Independence Unlikely

As a vote on Scottish independence approaches September 18, with uncertainty surrounding Scottish-based Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) (LON:RBS) and Lloyds Banking Group PLC (ADR) (NYSE:LYG) (LON:LLOY), a research report recommends increasing exposure to such banks.

Investec recommends Scottish banks as “no” vote expected

As various public polls indicate a “yes” vote for independence gaining over 50 percent support, a research note from UK-based Investec recommends investors “overweight banks with actual or perceived exposure to Scotland.”

The research report says that, despite polls showing a growing popularity for succession, the actual vote is going to be different. “Our call to overweight banks with actual or perceived exposure to...