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Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 386.60Bid: 386.50Ask: 386.60Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.03%Open: 409.10High: 414.00Low: 375.20Yesterday’s Close: 386.60

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 -

REFILE-UPDATE 4-RBS shrinks investment bank, posts $5.4 bln loss

(Refiled to correct typographical error in 14th paragraph)* RBS to cut investment bank assets by more than 60 pct* Aiming for dividend talks with regu
[Yesterday 17:52]

UPDATE 4-RBS shrinks investment bank, posts $5.4 bln loss

* RBS to cut investment bank assets by more than 60 pct* Aiming for dividend talks with regulator in 2016* Net loss of 3.5 billion pounds after U.S. w
[Yesterday 17:39]

UPDATE 2-GSK's new chairman Hampton to take charge in May

* RBS chairman Hampton takes reins at GSK on May 7* Move follows appointment of Davies to lead RBS* GSK facing tough times; CEO's 2014 bonus cut by 51
[Yesterday 16:54]

UPDATE 1-GSK's new chairman Hampton to take charge in May

(Adds details on RBS handover, background on GSK)By Ben HirschlerLONDON, Feb 26 (Reuters) - GlaxoSmithKline said on Thursday that its chairman-designa
[Yesterday 16:06]

UPDATE 3-RBS shrinks investment bank, posts $5.4 bln loss

* RBS to cut investment bank assets by over 60 pct* RBS hopes to have dividend talks with regulator in 2016* Net loss of 3.5 billion pounds after US w
[Yesterday 15:44]

RBS says Coutts bank probed over alleged tax evasion by clients

LONDON/ZURICH, Feb 26 (Reuters) - Royal Bank of Scotland (RBS) said on Thursday German prosecutors are looking at whether its private bank in Switzerl
[Yesterday 13:35]

RBS fires three staff as internal forex probe heats up

LONDON, Feb 26 (Reuters) - British bank Royal Bank of Scotland has dismissed 3 members of staff as part of its internal forex investigation in the las
[Yesterday 13:26]

NEWSMAKER-RBS turns to an architect of "light touch" regulation

* Ex-FSA chief Howard Davies appointed RBS chairman* Davies an advocate of 'principles-based regulation'* Tripartite regime blamed for inadequate supe
[Yesterday 11:57]

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