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Royal Bank of Scotland Share News (RBS)

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Share News for Royal Bank of Scotland (RBS)


Share Price: 222.50Bid: 222.40Ask: 222.50Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 229.40High: 229.80Low: 218.60Yesterday’s Close: 222.50




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 - http://about.reuters.com/fulllegal.asp







UPDATE 1-Seven big banks settle U.S. rate-rigging lawsuit for $324 mln

(Adds settlement details, background, comments, case citation, byline)By Jonathan StempelNEW YORK, May 3 (Reuters) - Seven of the world's biggest bank
[3 May '16 23:27]

Seven big banks settle U.S. rate-rigging lawsuit for $324 mln

NEW YORK, May 3 (Reuters) - Seven of the world's biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of riggi
[3 May '16 22:36]

UPDATE 2-RBS's loss more than doubles, dividend prospects darken

* Q1 loss 968 mln stg (2015: 459 mln loss)* CFO cautions on timing of return to dividend (Adds investigation into former Swiss unit)By Andrew MacAsk
[29 Apr '16 09:57]

UPDATE 1-RBS's loss more than doubles, dividend prospects darken

* Q1 loss 968 mln stg (2015: 459 mln loss)* CFO cautions on timing of return to dividend (Adds further details)By Andrew MacAskill and Lawrence Whit
[29 Apr '16 08:58]

RBS losses widen after income takes a tumble

LONDON, April 29 (Reuters) - Part-nationalised Royal Bank of Scotland reported a widening first quarter loss on Friday as lower income, restructuring
[29 Apr '16 07:10]

UPDATE 2-RBS says may miss end-2017 deadline to carve out Williams & Glyn

(Adds EU comment)LONDON, April 28 (Reuters) - Part-nationalised Royal Bank of Scotland risks missing an end-2017 deadline to sell its Williams & Glyn
[28 Apr '16 17:48]

UPDATE 1-RBS says may miss end-2017 deadline to carve out Williams & Glyn

(Adds analyst comment)LONDON, April 28 (Reuters) - Part-nationalised Royal Bank of Scotland risks missing an end-2017 deadline to sell its Williams &
[28 Apr '16 15:15]

BUZZ-RBS: Sees bigger financial impact from Williams & Glyn sale

** Royal Bank of Scotland's shares down 4.4 pct, near the bottom of the FTSE, after saying it will explore alternatives for sale of its Williams & Gly
[28 Apr '16 14:19]



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