Email Facebook Twitter

Quick Poll
Do you follow FX markets?

Stock Market news at - RSS News Feeds

Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 352.10Bid: 352.00Ask: 352.20Change: -3.80 (-1.07%)Faller - Royal Bank Scot
Spread: 0.20Spread as %: 0.06%Open: 354.80High: 354.80Low: 351.00Yesterday’s Close: 355.90

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 -

UPDATE 1-RBS names Ulster Bank chief as boss of Williams & Glyn

* Brown will lead business towards IPO next year* Maltby will resume role as advisor to investors (Adds comments from RBS CEO, background on changes
[2 Hours Ago]

RBS says Ulster Bank CEO Brown to become boss of Williams & Glyn

LONDON, April 28 (Reuters) - Royal Bank of Scotland said it had appointed Jim Brown, currently boss of its Irish business, to replace John Maltby as
[4 Hours Ago]

PEOPLE: Byrne leaving RBS for TD Securities: sources

By Abhinav RamnarayanLONDON, April 27 (IFR) - Mark Byrne has resigned from the SSA syndicate desk at Royal Bank of Scotland and is expected to join th
[Yesterday 19:07]

UPDATE 1-UK's biggest banks face further $29 bln misconduct bill - S&P

* 'Big 4' already incurred 42 billion pound misconduct bill* S&P sees further PPI charges of over 5 billion pounds (Adds details)LONDON, April 27 (R
[Yesterday 10:41]

Britain's biggest banks face further $29 billion misconduct bill -S&P

LONDON, April 27 (Reuters) - Britain's biggest banks face another 19 billion pounds ($29 billion) of charges relating to past misconduct over the next
[Yesterday 10:09]

RBS sells further North American loan portfolio to Mizuho

LONDON, April 27 (Reuters) - Royal Bank of Scotland has sold a further portfolio of North American loans to Mizuho , as it continues to sell off unwa
[Yesterday 07:17]

MEDIA-Zenith Leasedrive agrees with lenders to pay one of UK's biggest private dividends - Sky News

-- Source link: ( Note: Reuters has not verified this story and does not vouch for its accuracy
[Sun 20:45]

UPDATE 2-UK judge paves way for judicial review of swaps redress

* Judge grants application for judicial review of process* Decision could lead to overhaul of compensation scheme* Banks have so far paid out $2.7 bil
[Fri 19:42]

Sign up for Live Prices
Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.