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RBS Share News (RBS)

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Share News for RBS (RBS)


Share Price: 296.40Bid: 327.00Ask: 282.50Change: -0.90 (-0.30%)Faller - Royal Bank Scot
Spread: -44.50Spread as %: -13.61%Open: 296.20High: 0.00Low: 0.00Yesterday’s Close: 297.30




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 - http://about.reuters.com/fulllegal.asp







British lawmaker points to Santander UK chief in scandal over RBS restructuring unit

By Emma RumneyLONDON, Jan 18 (Reuters) - A British lawmaker on Thursday put the boss of Santander UK at the centre of a growing political storm over t
[18 Jan '18 21:39]

UPDATE 2-Britain's banks provide support for firms hit by Carillion collapse

* Nationwide to guarantee 250 jobs* Lloyds launches 50 mln stg support fund* RBS opens 75 mln stg support fund* HSBC opens 100 mln stg support fund* M
[18 Jan '18 12:25]

'Just Hit Budget!' bankers at RBS restructuring unit told during crisis - memo

LONDON, Jan 17 (Reuters) - Royal Bank of Scotland staff helping small firms to restructure debt during the financial crisis were given a list of ways
[17 Jan '18 18:54]

UK banks take steps to ease fallout from Carillion collapse

LONDON, Jan 17 (Reuters) - Britain's banks are offering overdraft extensions and other emergency measures to help firms hit by the collapse of constru
[17 Jan '18 11:37]

UPDATE 1-Britain's RBS pulled plug on Carillion days before collapse

(Adds RBS comment)By Andrew MacAskill and Ben MartinLONDON, Jan 16 (Reuters) - Carillion collapsed only days after Royal Bank of Scotland (RBS), one o
[16 Jan '18 20:28]

British regulator told to apologise to RBS whistleblower

LONDON, Jan 16 (Reuters) - Britain's markets regulator has been told to apologise to a former Royal Bank of Scotland employee after it offered "unconv
[16 Jan '18 19:37]

Carillion rescue hopes were undermined by British banks, court documents show

By Andrew MacAskill and Ben MartinLONDON, Jan 16 (Reuters) - The collapse of Carillion came only days after one of the British group's main lenders, R
[16 Jan '18 18:50]

UPDATE 1-Britain investigates Carillion directors after collapse

* Inquiry will also target past directors* Some small suppliers start laying off staff* Questions asked about why UK awarded contracts (Adds governmen
[16 Jan '18 17:19]



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