UK IPO News

BRIEF-RBS CEO: on track to be a 'normal bank' by 2014 target

Fri, 3rd Aug 2012 09:43

LONDON, Aug 3 (Reuters) - RBS CEO Stephen Hester says:

* CEO says on track to become a 'n

ormal bank' within 5-year strategic

turnaround timetable

* CEO says there will be privitisation opportunites when economic recovery

occurs

* Rpt - RBS CEO says UK could choose a cheaper way to boost lending to small

businesses than by fully owning RBS

* Rpt - RBS CEO says offering lowest interest ever offered as a response to

funding for lending

* Says IPO offers best value for direct line relative to trade buyer

* Rbs finance director sees direct line IPO as a 3-tranche sale, with one in

October, one in 2013 and one in 2014

* CEO says has ability to wait on direct line IPO if market conditions are not

right

* CEO says has commissioned independent review on it systems failure

((London Equities Newsroom; +44 20 7542 7717))

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Related Shares: Royal Bank Of Scotland Group (RBS).

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