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Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 322.50Bid: 322.50Ask: 322.60Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.03%Open: 330.90High: 331.60Low: 322.20Yesterday’s Close: 322.50

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 -

Nomura, RBS liability in U.S. mortgage bond case upped to $839 mln

By Nate RaymondNEW YORK, Sept 4 (Reuters) - Nomura Holdings Inc and Royal Bank of Scotland Group Plc have agreed to pay up to $33 million on top of $
[Yesterday 22:41]

CORRECTED-UPDATE 1-UK bank lending to small firms improves in second quarter-BoE data

(In headline changes to "improves" from "rises"; in first paragraph changes to "reached" from "rose to"; in second paragraph corrects to show a 400 mi
[Thu 10:26]

UPDATE 1-UK bank lending to small firms rises in second quarter-BoE data

* Net lending to small businesses totals 490 mln stg* Lloyds Banking Group, Aldermore biggest net lenders (Adds further details on individual banks'
[Thu 10:08]

UK bank lending to small firms rises in Q2 - BoE data

LONDON, Sept 3 (Reuters) - The Bank of England said net lending to small businesses by banks and building societies taking part in its Funding for Len
[Thu 09:42]

MOVES- Morgan Stanley, Barclays, Prudential, Deutsche Bank, Aon

Sept 2 (Reuters) - The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email moves@
[Wed 15:37]

MOVES-Bank of Tokyo-Mitsubishi taps RBS for head of corporate financing in Asia

Sept 2 (Reuters) - Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) hired Sanjeev Kumar from Royal Bank of Scotland to lead a newly created team to help corp
[Wed 12:01]

India's local wealth managers push to grow as foreign rivals struggle

* Local wealth managers plan to hire staff, open more branches* Foreign private banks struggling to compete* India home to fastest growing wealth mana
[Wed 10:56]

Former RBS head of Treasury strategy joins Citigroup

NEW YORK, Sept 1 (Reuters) - William O'Donnell, the former head Treasury strategist at RBS Securities, joined Citigroup as a market analyst on its int
[Tue 21:29]

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