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https://www.telegraph.co.uk/business/2019/07/28/rbs-shareholders-line-extraordinary-dividend-bonanza/

LOL. Your mate from the FCA either hasn't been for a very long time or he/she is telling you porkies. :D
The point about Rose is not that she's trying to read every complaint ever recorded, but that she's reading a large and current sample on a regular basis (for obvious reasons).

Hahaha, I don't think the rumour is true but it's funny. I think that whole area of the building was converted from an 'executive wing' to a much more inclusive, open workspace designed to serve the needs of the general workforce and the business at large.

I think Rose would be first CEO of a FTSE 100 company? And RBS would be the first FTSE 100 company to have females in both top jobs (CEO and CFO - Katie Murray already occupies the latter position). Both Rose and Murray are coming across with not only great 'likeability factor' but also highly competent. I really like the way Murray is able to talk about the Bank's financials in ways that fit the audience and can be understood by all. And I read that Rose takes home 100 complaints to read every night - that is commitment! Good luck to her.

RBS has an average valuation of 301.69p a share according to a recent consensus compiled by MarketBeat.

Try that again without the typos!

Alawwal Bank has merged with Saudi British Bank (SABB) allowing RBS to unwind its stake in Alawwal which it has held since the 2007 takeover of ABN Amro. Means a gain of £0.4bn for RBS as it disposes of the stake, and gains SABB shares. £4.7bn reduction in risk weighted assets equivalent to an uplift in RBS CET 1 Cap Ratio from 16.2% to 16.8%. £0.3bn gain for RBS due to foreign exchange accounting rules and therefore a total gain of £0.7bn for RBS attributable to ordinary shareholders.

A legal entity change expected later this year will also result in RBS recognising a further £1.2bn gain (albeit with a neutral effect on capital).

Great news.

Alawwal Bank has merged with Saudi British Bank (SABB) allowing RBS to unwind its steak in Alawwal which it has held since the 2007 takeover of ABN Amro. Means a gain of £0.4bn for RBS as it disposes of the stake and gains SABB shares. £4.7bn reduction in risk weighted assets equivalent to an uplift in RBS CET 1 Cap Ratio from 16.2% to 16.8%. £0.3bn gain for RBS due to foreign exchange account rules and therefore a total gain of £0.7bn for RBS attributable to ordinary shareholders.

A legal entity expected later this year will also result in RBS recognising a further £1.2bn gain (albeit with a neutral effect on capital).

Great news.

I think unfortunately, while RBS would love to buyback at this low price, there are two problems: (1) HMG less likely to want to sell at that price (2) the external perception of a sale at a low price.

Both RBS and the UK Government will come under significant pressure/scrutiny from the press/public/MPs etc for buying back shares from the taxpayer for £2.15 that it sold to them at around £5. It makes people angry, understandably, and so a marvelous trade for RBS (at the expense of the public purse) is probably just not something that either RBS or the current Conservative government are likely to want to execute given the likely reputational cost.

There is also the issue of UKG being rather preoccupied at the moment.

Sounds a bit like this case though, which the Bank won...

https://www.ft.com/content/2861e846-1e30-11e8-aaca-4574d7dabfb6

The answer to this is £218m for RBS (covered by pre-existing provisions).

http://www.morningstar.co.uk/uk/news/AN_1558022947470980000/top-news-sp-upgrades-rbs-credit-rating-amid-restructure-progress.aspx

Need to know how the fine is split. Wasn't aware this one was even pending:

https://www.express.co.uk/finance/city/1127944/Barclays-RBS-fined-European-Commission-trading-cartel/amp

4.8% down when the dip in earnings was not even as much as expected. Absolute joke.

I wish you'd stop forcing these nonsense posts on us.

Would be good if we could stick to useful discussion about RBS on this thread.

I'm not sure what most small businesses would do. However, it's not just a few hundred pounds we're talking about. CryWolf mentioned that he is being paid £3,000 to switch. Ideally the uptake is good because the Annual Report goes on to state that:

"should the uptake within the incentivised switching
scheme not be sufficient, the Independent
Body has the ability to extend the duration of
the scheme by up to twelve months, impose
penalties of up to £50 million, and can compel
the Group to extend the customer base to
which the scheme applies which may result in
prolonged periods of disruption to a wider
portion of the Group’s business."

This is called out as a risk factor on p262 of the Annual Report:

"As a direct consequence of the incentivised
switching scheme (which comprises part of
the Alternative Remedies Package), the
Group will lose existing customers and
deposits, which in turn will have adverse
impacts on the Group’s business and
associated revenues and margins.
Furthermore, the capability and innovation
fund (which also comprises part of the
Alternative Remedies Package) is intended to
benefit eligible competitors and negatively
impact the Group’s competitive position."

I'm not sure whether the impact is expected to be significant though I suppose the point of it is that it should be.

McDonnell is saying that Labour wants to create a Public Banking Ecosystem so presumably blocking the sale of the Government's stake means that they want RBS to be an important part of that system. In this scenario you can imagine that the Government would begin taking an active role in the strategic and operational affairs of the Bank.

The notion that small to medium enterprises are very poorly served by the banking sector, and that the sector essentially dictates which SMEs succeed or fail by way of extending or restricting credit seems to be a key driver for the Public Banking proposal. However, I'm not sure how much substance there is to these claims - the Banks compete aggressively for SME market share and Banks only profit when their clients succeed and flourish. I think cherry picking which businesses you want to lend to is called due diligence and managing credit risk? Is McDonnell suffering from Dunning Kruger Effect perhaps?

On one hand, this announcement is actually better than Labour's previous proposal for RBS (i.e. to launch a consultation on splitting it up into many small, regional banks). On the other, as the risk of another General Election increases, today's announcement could have major investors second guessing whether they want to hold stock in a company whose return to private ownership is under threat. :-(

Just read that. Could be painful in the morning. And then again if they get in.

https://www.mirror.co.uk/news/politics/labour-plans-stop-rbs-being-14210947.amp

In 2018 RBS made an operating profit before tax of £3,359 million.

Q1 2019 Results are due out on Friday 26th April.

That is incredible. Perhaps rather optimistically, I have always liked the idea that these shares could go to 500p in time.

https://www.sharecast.com/news/broker-recommendations-/broker-tips-wood-group-dechra-pharmaceuticals-rbs-united-utilities--3806825.html