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Royal Bank of Scotland Share News (RBS)

Share News for Royal Bank of Scotland (RBS)

Share Price: 345.30Bid: 345.20Ask: 345.30Change: -3.20 (-0.92%)Faller - Royal Bank Scot
Spread: 0.10Spread as %: 0.03%Open: 348.80High: 351.60Low: 343.40Yesterday’s Close: 348.50

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 -

RBS invites pitches for broker role ahead of privatisation - sources

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[7 Hours Ago]

MEDIA-RBS CEO orders review of bank's corporate broking arrangements -Sky News

-- Source link: ( Note: Reuters has not verified this story and does not vouch for its accuracy
[Yesterday 19:34]

UK mortgage approvals rise to highest level since June 2014 -BBA

LONDON, May 28 (Reuters) - Mortgage approvals in Britain rose in April to their highest level since June last year and they look set to keep growing,
[Yesterday 10:30]

UK small business lending picks up in Q1 under BoE scheme

LONDON, May 28 (Reuters) - Lending to small businesses by banks in Britain taking part in the Bank of England's Funding for Lending Scheme (FLS) incre
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UPDATE 1-RBS may need to bulk up Williams & Glyn to improve competition

(Adds comments from RBS, details)By Steve SlaterLONDON, May 28 (Reuters) - Royal Bank of Scotland could be asked to increase the size of the Williams
[Yesterday 08:56]

UK to assess impact of RBS Williams & Glyn sale on competition

LONDON, May 28 (Reuters) - Britain's competition watchdog has been asked to assess the impact of the planned spin-off of new bank Williams & Glyn for
[Yesterday 07:34]

UPDATE 1-Bank of England to finalise ringfencing rules in 2016

* PRA says no major changes to initial proposals* To consult further with banks through this year* Final rules to be published in H1 of next year* Ban
[Wed 11:20]

Bank of England to finalise ringfencing rules in H1, 2016

LONDON, May 27 (Reuters) - The Bank of England said it will finalise new rules designed to protect bank's domestic retail customers from riskier parts
[Wed 10:23]

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