Email Facebook Twitter

Stock Market news at - RSS News Feeds

Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 359.20Bid: 358.90Ask: 359.20Change: -1.80 (-0.50%)Faller - Royal Bank Scot
Spread: 0.30Spread as %: 0.08%Open: 360.50High: 365.10Low: 359.20Yesterday’s Close: 361.00

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 2-Bank of America settles mortgage probes for $16.65 bln

(Adds details of settlement, analyst comment, background)By Aruna Viswanatha, Jonathan Stempel and Peter RudegeairWASHINGTON/NEW YORK, Aug 21 (Reuters
[Yesterday 17:29]

U.S. credit union agency's lawsuits over toxic debt survive appeal

By Nate RaymondAug 20 (Reuters) - A U.S. appeals court has handed a major victory to a federal regulatory agency suing big banks over the sale of toxi
[Wed 16:30]

RBS settles copyright lawsuit after U.S. judge blocks software's use

By Nate RaymondNEW YORK, Aug 20 (Reuters) - Royal Bank of Scotland Group Plc said on Wednesday it had reached a settlement allowing it to use a key pi
[Wed 16:01]

MOVES-Citigroup, BNY Mellon, Deutsche Bank, TSB, Cantor Fitzgerald

(Adds BNY Mellon and Citigroup)Aug 18 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of oth
[Mon 21:22]

MOVES-Deutsche Bank hires Goldman and RBS execs to bolster IT teams

Aug 18 (Reuters) - German lender Deutsche Bank AG hired one executive each from Goldman Sachs Group Inc and Royal Bank of Scotland Group Plc to bolst
[Mon 15:31]

UPDATE 2-Nationwide first-quarter profit more than doubles

* Underlying profit rises 117 percent to 263 million pounds* "Natural correction" of UK house prices to continue -CFO* Brits made 6.9 billion online b
[Mon 13:41]

Switzerland's Raiffeisen eyes firms managing assets up to 30 bln Sfr

ZURICH, Aug 16 (Reuters) - Swiss lender Raiffeisen is open to making acquisitions in private banking and asset management, potentially targeting firms
[Sat 16:04]

MEDIA-RBS's Citizens Financial unit pushes back IPO - WSJ

-- Source link: ( Note: Reuters has not verified this story and does not vouch for its accuracy
[15 Aug '14]

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.