Register
Login:
Share:
Email Facebook Twitter




Royal Bank of Scotland Share News (RBS)

Stock Market news at lse.co.uk - RSS News Feeds

Share News for Royal Bank of Scotland (RBS)


Share Price: 241.90Bid: 241.80Ask: 241.90Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 243.50High: 248.60Low: 239.50Yesterday’s Close: 241.90




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







Lending limits, city housing shortage stunt Irish mortgage growth

DUBLIN, Feb 4 (Reuters) - Ireland's mortgage market grew by 26 percent to 4.9 billion euros in 2015, data showed on Thursday, but was still around hal
[4 Feb '16 10:53]

Three scientists on shortlist to appear on new Scottish banknote

LONDON, Jan 31 (Reuters) - Royal Bank of Scotland has named three Scottish scientists -- two men and one woman -- on the shortlist of candidates to ap
[31 Jan '16 00:01]

UK review of retail banking delayed as watchdog seeks more time

LONDON, Jan 29 (Reuters) - The outcome of a competition review into Britain's retail banking market was delayed on Friday after the watchdog said it w
[29 Jan '16 12:44]

UPDATE 2-RBS takes $5.1 bln hit in bid to break from past

* To take 2.5 bln stg hit to Q4 profits* To pay 4.2 bln stg into pension scheme* Sets aside extra 2.2 bln for U.S. litigation (Adds CEO, CFO comment
[27 Jan '16 10:50]

BUZZ-UK Banks: UBS cuts targets

** Weakness seen from UK banks amid broad market sell-off and as UBS cuts PTs - of HSBC, Standard Chartered and Barclays (shares in trio down c2%)**
[26 Jan '16 09:55]

Senior lawmaker urges UK banks to invest in IT to prevent failures

LONDON, Jan 24 (Reuters) - Britain's banks need to dedicate far greater resources towards securing their IT infrastructure and should have a designate
[24 Jan '16 00:00]

UPDATE 2-Virginia reaches $63 mln pact with 11 banks in mortgage bond fraud suit

(Adds details about lawsuit, settlement amounts.)By Suzanne BarlynJan 22 (Reuters) - A group of 11 banks agreed to pay more than $63 million to settle
[22 Jan '16 18:46]

UPDATE 1-Virginia reaches $63m pact with 11 banks in mortgage bond fraud suit

(Adds details on lawsuit, settlement; requests for comment from banks)By Suzanne BarlynJan 22 (Reuters) - A group of 11 banks agreed to pay more than
[22 Jan '16 17:23]



Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






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.