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RBS Share News (RBS)

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Share News for RBS (RBS)


Share Price: 274.20Bid: 273.90Ask: 274.10Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.20Spread as %: 0.07%Open: 272.50High: 275.10Low: 270.90Yesterday’s Close: 274.20




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-UK Government Investments appoints new head to manage Britain's RBS stake

(Adds more detail, quote from chief executive)LONDON, April 20 (Reuters) - UK Government Investments (UKGI), the body which manages the government's s
[20 Apr '18 10:06]

REFILE-UPDATE 1-UK Government Investments appoints new head to manage Britain's RBS stake

(Fixes to read "since 2013" in paragraph 5)LONDON, April 20 (Reuters) - UK Government Investments (UKGI), the body which manages the government's stud
[20 Apr '18 10:06]

UK Government Investments appoints new head to manage Britain's RBS stake

LONDON, April 20 (Reuters) - UK Government Investments, the body which manages the government's student loan book and stake in bailed out bank Royal B
[20 Apr '18 09:35]

UPDATE 1-RBS to pay $5 billion into pension scheme

(Adds more detail, recasts)LONDON, April 17 (Reuters) - Royal Bank of Scotland will make a total contribution of 3.5 billion pounds ($5 billion) to it
[17 Apr '18 14:36]

RBS to pay $5 billion into pension scheme

LONDON, April 17 (Reuters) - Royal Bank of Scotland said on Tuesday it will make a total contribution of 3.5 billion pounds ($5 billion) to its pensio
[17 Apr '18 13:59]

Barclays targets technology with venture capital-style business

LONDON, April 16 (Reuters) - Barclays said it has set up a venture capital-style unit to drive innovation and returns within its UK business.The Briti
[16 Apr '18 15:43]

UPDATE 1-Former British politician Tyrie to chair UK competition watchdog

(Adds more detail, Clark and Tyrie statements)By Emma Rumney and David MillikenLONDON, April 11 (Reuters) - Andrew Tyrie, a former Conservative Party
[11 Apr '18 14:07]

Former lawmaker Tyrie to chair UK competition regulator CMA - Sky News

LONDON, April 11 (Reuters) - Andrew Tyrie, a Conservative former lawmaker, will be named later on Wednesday as the new chairman of Britain's Competiti
[11 Apr '18 09:44]



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