Email Facebook Twitter

ETF Investing made simple; CEO of justETF explains why

Royal Bank of Scotland Share News (RBS)

Stock Market news at - RSS News Feeds

Share News for Royal Bank of Scotland (RBS)

Share Price: 251.50Bid: 251.40Ask: 251.50Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.04%Open: 252.90High: 255.30Low: 248.40Yesterday’s Close: 251.50

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-U.S. judge dismisses most of Euribor-rigging lawsuit

(Adds details from decision, background, case citation, byline)By Jonathan StempelNEW YORK, Feb 21 (Reuters) - A U.S. judge on Tuesday dismissed most
[21 Feb '17 23:15]

U.S. judge dismisses most of Euribor-rigging lawsuit

NEW YORK, Feb 21 (Reuters) - A U.S. judge on Tuesday dismissed most of an investor lawsuit accusing major banks of conspiring to manipulate the benchm
[21 Feb '17 22:04]

UPDATE 1-UK sells inflation-linked bond at record-low yield via syndication

(Adds reaction, market moves) By Andy Bruce LONDON, Feb 21 (Reuters) - Britain raised 4.5 billion pounds ($5.6 billion) on Tuesday through the
[21 Feb '17 17:37]

UK DMO says 2065 linker sale via syndication well-received by investors

LONDON, Feb 21 (Reuters) - The head of Britain's Debt Management Office said Tuesday's sale via syndication of a 2065 index-linked gilt was well-recei
[21 Feb '17 15:55]

UPDATE 5-HSBC share run stumbles on writedowns, tough outlook

* 2016 pre-tax profit $7.1 bln vs $14.4 bln estimate* Takes $3.2 bln impairment charge on private banking* New buy-back takes total to $3.5 bln since
[21 Feb '17 13:46]

UPDATE 1-Britain risks EU clash over RBS bailout terms

(Adds government hiring Rothschild, Slaughter and May)By Andrew MacAskill and Francesco GuarascioLONDON/BRUSSELS, Feb 21 (Reuters) - Britain's plan to
[21 Feb '17 12:33]

Britain risks EU clash over RBS bailout terms

By Andrew MacAskill and Francesco GuarascioLONDON/BRUSSELS, Feb 21 (Reuters) - Britain's plan to free Royal Bank of Scotland from an obligation to sel
[21 Feb '17 11:51]

UK sells 2.0 bln stg of 2065 linker via syndication - bookrunner

LONDON, Feb 21 (Reuters) - Britain has sold 2 billion pounds ($2.5 billion) of an inflation-linked government bond maturing in 2065 after attracting o
[21 Feb '17 11:47]

Share Price, Share Chat, Stock Market news at
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

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.