ROYAL Bank of Scotland yesterday moved to scotch City rumours it was the subject of an informal takeover approach from the owner of the Midland Bank.

Hong Kong based parent HSBC has made overtures to the Scottish bank based in Edinburgh, according to City rumours. However, an RBS spokesman said yesterday the bank's chairman, Lord Younger, had made it clear at last month's annual general meeting he had not received any approaches and was not in any discussions with potential bidders. "That position is unchanged and nothing has changed since then," he said. A spokeswoman for HSBC said the company did not comment on market rumours.