ROYAL Bank of Scotland, which operates a 1,900-strong fleet, has benefited to the tune of £2 million over three years from Leasecontracts' fixed cost fleet management scheme.

This week Leasecontracts handed over a cheque for £425,000 to the Bank for benefits achieved for the Bank's fleet over the last year. The cheque takes total benefits to more than £2 million since Leasecontracts took over management of the fleet in February 1994.

The Bank is one of the biggest customers for the ground-breaking fleet product, developed by Leasecontracts as a scheme for organisations able to use their own funds for vehicle acquisition. The scheme guarantees purchasing terms, service and maintenance costs and residual values. Fleet customers, such as the Royal Bank of Scotland, reap cash dividends if Leasecontracts out performs those agreed targets.