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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: 196.70Bid: 196.70Ask: 196.80Change: 0.00 (0.00%)No Movement on Royal Bank Scot
Spread: 0.10Spread as %: 0.05%Open: 196.10High: 197.70Low: 193.90Yesterday’s Close: 196.70




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







US CREDIT OPEN-Markets sitting, waiting ahead of Yellen speech

By John BalassiNEW YORK, Aug 24 (IFR) - Summary of overnight events and Wednesday's main headlines:Dow Futures: +3, S&P Futures: +0.75, Nasdaq Futures
[24 Aug '16 12:56]

UPDATE 1-UK banks approve fewest mortgages since Jan 2015, consumer credit growth strong

(Adds details, background)LONDON, Aug 24 (Reuters) - The number of mortgages approved by British banks fell to its lowest in a year in the month follo
[24 Aug '16 11:44]

CORRECTED-UK banks approve fewest mortgages since Jan 2015, consumer credit growth strong

(Corrects name of BBA chief economist)LONDON, Aug 24 (Reuters) - The number of mortgages approved by British banks in July fell to its lowest in a yea
[24 Aug '16 10:34]

US CREDIT OPEN-Equity futures higher as dollar dips

By John BalassiNEW YORK, Aug 23 (IFR) - Summary of overnight events and Tuesday's main headlines:Dow Futures: +46, S&P Futures: +5.25, Nasdaq Futures:
[23 Aug '16 12:51]

UPDATE 1-RBS to relive unpleasant memories as investor lawsuit looms

* Investors hurt in 2008 rights issue eye billions* Unsuccessful summer talks tee up costly case in March* Former boss Fred Goodwin may be called as d
[22 Aug '16 16:31]

RBS to relive unpleasant memories as investor lawsuit looms

* Investors hurt in 2008 rights issue eye billions* Unsuccessful summer talks tee up costly case in March* Former boss Fred Goodwin may be called as d
[22 Aug '16 14:39]

US CREDIT OPEN-As slowdown hits, bankers eye US$5bn week

By John BalassiNEW YORK, Aug 22 (IFR) - Summary of overnight events and Monday's main headlines:Dow Futures: -53, S&P Futures: -4.75, Nasdaq Futures:
[22 Aug '16 13:03]

Foreign banks storm dollar market in search of cheaper funding

By Will Caiger-SmithNEW YORK, Aug 19 (IFR) - Yankee bank issuance has soared this month as tighter spreads, favourable currency moves and huge demand
[19 Aug '16 18:58]



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