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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: 205.30Bid: 205.30Ask: 205.40Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.05%Open: 165.00High: 218.80Low: 165.00Yesterday’s Close: 205.30

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 -

REFILE-UPDATE 2-British vote causes wild swings in credit, currencies

(Refiles to reach additional subscribers)By Daniel Stanton, Takahiro Okamoto, Adam Parry and Helene DurandLONDON/TOKYO/SINGAPORE, June 24 (IFR) - UK b
[24 Jun '16 10:48]

UPDATE 2-British vote causes wild swings in credit, currencies

(Rewrites throughout with European market reaction)By Daniel Stanton, Takahiro Okamoto, Adam Parry and Helene DurandLONDON/TOKYO/SINGAPORE, June 24 (I
[24 Jun '16 10:46]

REFILE-UPDATE 1-UK bank credit underperforms in early trading

(Adds RICs)By Adam ParryLONDON, June 24 (IFR) - UK bank names are under pressure in cash markets in early trade following the Leave vote in the Brexit
[24 Jun '16 09:14]

Britain's banks to work as normal despite Brexit -BBA chief

LONDON, June 24 (Reuters) - There will be no disruption to banking services in Britain despite market turmoil caused by the country's historic vote to
[24 Jun '16 08:35]

Bank of England in "close contact" with banks after vote for Brexit

LONDON, June 24 (Reuters) - The Bank of England's supervisory arm is in contact with banks ahead of the market open after Britain voted to leave the E
[24 Jun '16 06:03]

US dollar bonds tighten as Britain votes

By Will Caiger-SmithNEW YORK, June 23 (IFR) - US credit markets rallied Thursday, led by UK banks, as Britain voted on whether to remain in the Europe
[23 Jun '16 16:51]

Germany embraces glitzy offices to shake up corporate culture

* Siemens, Adidas, Zalando offices cost hundreds of millions* Aimed at making firms more open, less hierarchical* Face-to-face interaction boosts team
[23 Jun '16 10:53]

RPT-EXCLUSIVE-RBS receives bids for Greek shipping business - sources

(Repeats Wednesday report)By Jonathan Saul, Sophie Sassard and Andrew MacAskillLONDON, June 22 (Reuters) - The Royal Bank of Scotland has received bi
[23 Jun '16 08:02]

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