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Michael Masterman talks on WRES potential & Tungsten market Watch here

Michael Masterman talks on WRES potential & Tungsten market


Royal Bank of Scotland Share News (RBS)

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Share News for Royal Bank of Scotland (RBS)


Share Price: 240.70Bid: 240.70Ask: 240.80Change: 1.90 (+0.80%)Riser - Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 239.60High: 240.80Low: 237.50Yesterday’s Close: 238.80




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-RBS raises settlement offer to last claimants over 2008 cash call

(Adds details)By Andrew MacAskill and Kirstin RidleyLONDON, March 28 (Reuters) - Royal Bank of Scotland has nudged up an offer to the final investor g
[28 Mar '17 12:13]

RBS raises settlement offer to last claimants over 2008 cash call

LONDON, March 28 (Reuters) - Royal Bank of Scotland has nudged up an offer to the final group of claimants seeking damages over an emergency cash call
[28 Mar '17 11:06]

RBS answering regulator questions about Russia money laundering claims

LONDON, March 27 (Reuters) - Royal Bank of Scotland said on Monday the Financial Conduct Authority (FCA) and other regulators have requested informati
[27 Mar '17 16:07]

CORRECTED-UPDATE 1-Bank of England to check banks ready for disorderly Brexit

(Corrects to remove comparison between risks of consumer credit and buy to let lending in paragraph 13)* BoE tells banks to brace for "range of outcom
[27 Mar '17 15:15]

UK toughens stress tests with sterling drop, wider bond spreads

By Steve SlaterLONDON, March 27 (IFR) - Global GDP will fall by 2.4%, sterling plunges against the dollar, UK interest rates rise to 4% and US corpora
[27 Mar '17 14:14]

UPDATE 1-Bank of England to check banks ready for disorderly Brexit

* BoE tells banks to brace for "range of outcomes" from Brexit* BoE also launches probe into surging consumer lending* Central bank sets out details o
[27 Mar '17 13:57]

REFILE-Bank of England to check banks ready for range of Brexit outcomes

(Refiles to add a dropped word in second paragraph)LONDON, March 27 (Reuters) - British banks need to prepare for a wide range of potential outcomes a
[27 Mar '17 09:38]

Bank of England to charge banks for additional "Brexit" costs

By Huw JonesLONDON, March 24 (Reuters) - The Bank of England is to increase the fees it levies on the banks it regulates to meet additional costs resu
[24 Mar '17 11:19]



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