The bank’s GRG unit has been an item of continued controversy for the bank. Derek Sach, head of the global restructuring group division, told MPs earlier this month that the unit was “absolutely not a profit centre” nor rough with its customers.

“Generally [I] do believe we do good overall,” he told MPs on the Treasury select committee. Sach insisted that the bank “would never get any advantage from destroying a customer”, pointing out that GRG had lost £2.1 billion over a five-year period.

“There can’t be all this smoke without some fire,” said Andrew Tyrie, committee chairman, adding: “There have been widespread concerns about RBS’s lending practices.”

In response, Tomlinson told the Huffington Post UK that he found some of RBS’ evidence to MPs “particularly surprising”.

Following Tomlinson’s allegations, the bank commissioned lawyers from Clifford Chance to investigate the claims and later welcomed the report for claiming it of trying to “systematically defraud” small firms, something that Tomlinson had never claimed.

Clifford Chance’s report, which interviewed 138 small businesses managed by the bank’s support unit, found that the bank’s fees “lacked clarity” in “some cases”. RBS is still under investigation by the City watchdog, the Financial Conduct Authority.

In response to Clifford Chance’s report, RBS admitted that the process which allowed the bank to bid for ailing businesses’ property that it was auctioning off in order to help get on top of their debts led to a “damaging perception” of a conflict of interest. As a result, the bank decided to wind down West Register, the vehicle through which it would bid on property, and sell all of the assets it has on its books.