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Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 354.90Bid: 356.00Ask: 356.20Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.20Spread as %: 0.06%Open: 354.10High: 357.10Low: 351.00Yesterday’s Close: 354.90

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 -

BUZZ-UK banks lead late-day charge as polls show lead for "No" campaign

** UK handily outpacing a weak FTSE 100 index, as some investors start to factor in the likelihood of Scotland voting against a move to separate from
[Yesterday 15:55]

Scottish support for independence up to 48 pct - Survation poll

EDINBURGH, Sept 16 (Reuters) - Scottish support for independence rose one percentage point to 48 percent, a Survation poll for the Scottish Daily Mail
[Tue 22:08]

Scottish support for independence rises to 48 pct - Opinium poll

EDINBURGH, Sept 16 (Reuters) - Scottish support for independence has risen one percentage point to 48 percent, an Opinium poll for the Daily Telegraph
[Tue 21:16]

Scottish support for independence at 48 percent, ICM poll shows

LONDON, Sept 16 (Reuters) - Support for independence in Scotland has risen three percentage points to 48 percent, an ICM poll for the Scotsman newspap
[Tue 21:08]

Scottish investment trusts could move south on "Yes" vote in referendum

* Pioneered by Scotsman Robert Fleming in 19th century* 41 trusts based in Scotland, manage 23 bln pounds* Discounts widen in run up to voteBy Simon J
[Tue 17:05]

Santander UK starts search for CEO, Bostock tipped for role

LONDON, Sept 16 (Reuters) - The British arm of Spanish bank Santander formally started the succession process on Tuesday for a new chief executive, wi
[Tue 15:52]

UPDATE 2-Ahead of independence vote, Britain pledges state funding to Scotland

* London pledges Scotland health spending powers* Nationalist response: Scots are not daft; why not before?* PM Cameron warns a breakaway vote would b
[Tue 13:10]

MOVES-RBS appoints head of global transaction services, Asia Pacific

Sept 16 (Reuters) - Royal Bank of Scotland Plc (RBS) said it appointed Rohit Sawhney as head of global transaction services for Asia Pacific, with imm
[Tue 10:01]

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