The Royal Bank of Scotland, which is now majority-owned by U.K. taxpayers, plans to “drastically scale back activity in structured real estate, leveraged and project finance, and exit lending in these areas entirely,” the bank said Thursday.

It couldn’t be determined how many individuals there are in these divisions or whether they would be laid off or reassigned. The official news, which market sources had predicted, came in the form of comments to investors within the bank’s 2008 earnings results.

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