Let’s be clear, due to a lack of governance from HMG, NWB was bought with paper by a bean counter from north of the border. The two IT systems were never properly combined. Further acquisitions and poor decisions put the whole thing into public ownership. The branches in Scotland will not be badged Nat West. Closures have been suspended. Further news later in the year are awaited. Lloyd’s have the same situation with BofS.
The good news is that the bit called Nat West is now we’ll capitalised as is the entire group of entities.
What about hiving off the Royal Bank of Scotland branches and giving it to Scotland and returning Nat West to UK ownership. This could be taken as a payment by HMG to the Scots and reduce the HMG holding to below 50%. When RBS was bought it was roughly 30% of the whole. Then it could return to the pre-Shred days eg 1999.
With the divvy locked in you can have these for 206p. The other big Bank’s results will determine the way forward and this time next year, when they up the base rate, HMG will be selling at £3 to £5.
If they were aware of bad news they would have to disclose. The Group often has a close statement say mid-Jan to ensure an orderly market in the run up to finals on 14 February. Suggests these guys are going elsewhere.
The fact is he took AAOG cash to develop ATOG and f..Ed off leaving the PIs who trusted him, high and dry. Some sort military retreat for mercenary gits, promising to pay back the borrowed money from AAOG. Perhaps the acting CEO should put a call into the Fraud Squad?
Xmas is coming, The AAOG BOD are getting fat, Who will put a few pennies in the AAOG shareholders hats? If you haven’t got a penny, A hapenny will do, If you haven’t got a hapenny, You must be a LTH.
Apparently, Corbyn may announce free 1st and second class letter post on privatisation to keep CWU members in a job. This is to be funded by taxing letter and window boxes as well as bird tables, feeders and peanuts.