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RBS Share News (RBS)

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Share News for RBS (RBS)

Share Price: 251.30Bid: 251.30Ask: 251.40Change: -1.00 (-0.40%)Faller - Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 250.30High: 252.90Low: 249.50Yesterday’s Close: 252.30

UPDATE 1-RBS returns to profit, to finish restructuring in 2014

Fri, 3rd May 2013 07:29

LONDON, May 3 (Reuters) - State-backed Royal Bank of Scotland reported its first quarterly profit in 18 months on Friday and said it expected to complete its restructuring during 2014, potentially enabling the government to start selling shares.

RBS, which is 82 percent-owned by the taxpayer, made a pretax profit of 826 million pounds ($1.3 billion), compared with a loss of 1.5 billion pounds in the same period last year. Analysts had forecast a profit of 800 million pounds.

Chief Executive Stephen Hester has overseen the shedding of around 900 billion pounds in assets and is focusing on lending to British households and small businesses.

"We expect to substantially complete the bank's restructuring phase during 2014. We are seeing the start of a pick-up in loan demand and have a strong surplus of funds ready and available to support economic recovery," he said.

However, Hester still has major hurdles to overcome. Britain's financial regulator said in March that UK banks must raise 25 billion pounds of extra capital by the end of the year to absorb any future losses on loans.

Although the regulator has not yet given specific guidance to individual banks, analysts expect the biggest shortfall to be at RBS.

RBS said its capital position had improved during the period and its core tier one ratio - a bank's main benchmark of health - had risen by 50 basis points to 10.8 percent. It expects to have a core capital ratio of 9 percent at the end of 2013 on the basis of full implementation of tougher Basel III capital rules.

Britain's regulator wants major lenders to achieve a core tier one ratio of at least 7 percent.

(c) Copyright Thomson Reuters 2013. Click For Restrictions -

Saudi's Alawwal Bank reports 40 pct drop in quarterly profit

DUBAI, July 27 (Reuters) - Alawwal Bank, Saudi Arabia's oldest bank, reported a 40 percent fall in second-quarter net profit on Thursday as impairment
[27 Jul '17 15:39]

MOVES-HSBC hires MacHale for FIG syndicate

By Helene DurandLONDON, July 27 (IFR) - HSBC has hired Tom MacHale to work on its European financial institutions debt syndicate desk, according to a
[27 Jul '17 12:41]

UPDATE 1-UK in $1.1 bln deal with EU to settle RBS state aid issues

(Adds details)LONDON, July 26 (Reuters) - The European Commission has accepted the British government's plans to free Royal Bank of Scotland from an o
[26 Jul '17 17:47]

CORRECTED-UK agrees $1.1 bln deal with EU to settle RBS state aid concerns

(Removes incorrect currency from headline)LONDON, July 26 (Reuters) - The British government said on Wednesday that the European Commission had accept
[26 Jul '17 17:02]

UK agrees $1.1 bln stg deal with EU to settle RBS state aid concerns

LONDON, July 26 (Reuters) - The British government said on Wednesday that the European Commission had accepted its plans to free Royal Bank of Scotlan
[26 Jul '17 16:58]

Britain's opposition Labour alarms bankers with Robin Hood tax

* Opposition Labour sets out transaction tax plan* Banking industry seeks to rebuild ties with Labour* Fears that plan could add to Brexit exodusBy An
[26 Jul '17 12:29]

UPDATE 1-Britain's Metro Bank raises cash, swings to H1 profit

* Underlying profit before tax 6 mln stg in H1* Bank raised 277.9 million pounds in placing overnight (Adds CEO quotes)By Noor Zainab Hussain and Dash
[26 Jul '17 10:43]

UK watchdog to require banks to publish data on service

By Huw JonesLONDON, July 25 (Reuters) - Banks in Britain will have to publish data every quarter from next year to show the quality of service they pr
[25 Jul '17 10:56]

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