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: 388.70Bid: 388.80Ask: 389.00Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.20Spread as %: 0.05%Open: 385.00High: 390.40Low: 381.80Yesterday’s Close: 388.70

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 -

British upstart banks get IT boost to take on big rivals

* Metro Bank broke mould by using software supplier* Technology has been a barrier for new banks* Big five lenders still dominate UK landscapeBy Matt
[14 Hours Ago]

British police arrest ex-RBS trader in currency probe-FT

Dec 19 (Reuters) - A former trader from Royal Bank of Scotland was arrested east of London on Friday in connection with a criminal investigation into
[Fri 22:41]

UPDATE 1-HKMA says probe found no evidence of FX rigging

(Adds details, comments from banks)HONG KONG, Dec 19 (Reuters) - Hong Kong's de facto central bank said it found no evidence of rigging in Hong Kong's
[Fri 11:23]

RBS puts loan to builder Sacyr up for sale at discount - report

MADRID, Dec 19 (Reuters) - Royal Bank of Scotland wants to sell a 100 million euro loan it had extended to builder Sacyr as part of a syndicate, as S
[Fri 09:13]

U.S. judge says to likely vacate insider trading guilty pleas over IBM deal

By Nate RaymondNEW YORK, Dec 18 (Reuters) - A U.S. judge said Thursday he would likely vacate the guilty pleas of four men accused of engaging in an i
[Thu 20:14]

MEDIA-RBS loses fight over 4 bln stg investor court date - Sky News

-- Source link: ( Note: Reuters has not verified this story and does not vouch for its accuracy
[Thu 19:45]

MOVES-Wolfgang Mantke joins GFT's risk management practice

Dec 18 (Reuters) - GFT Technologies AG, a provider of advisory, consulting and software to the investment banking industry, has appointed Wolfgang Man
[Thu 11:47]

UPDATE 2-Cerberus buys more Europe property assets with RBS, NAB deals

* U.S. private equity firm buys $7.5 bln of Irish loans from RBS* RBS sells big chunk of its "bad" loans as it shrinks in Ireland* Cerberus also buys
[Tue 16:12]

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.