The Royal Bank of Scotland Group plcNYSE
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  • Today, 4:29 AM
    • Looking to avoid a trial in March 2017, Royal Bank of Scotland (NYSE:RBS) has reached a settlement with three out of five shareholder group claimants in a 2008 shareholder rights issue case and hopes to settle soon with the other two.
    • The British bank, in which the U.K. government holds a 73% stake, has agreed to pay up to £800M to be split between all five shareholder groups.
    | Today, 4:29 AM | 1 Comment
  • Wed, Nov. 30, 2:28 AM
    • After failing multiple hurdles in the Bank of England's toughest-ever stress test, Royal Bank of Scotland (NYSE:RBS) has bolstered its capital plan.
    • Some "capital inadequacies" were revealed at two other banks, Barclays (NYSE:BCS) and Standard Chartered (OTCPK:SCBFF), though neither was required to submit a revised plan.
    • The test also covered HSBC, Lloyds (NYSE:LYG), Nationwide and Banco Santander UK (NYSE:SAN).
    | Wed, Nov. 30, 2:28 AM | 5 Comments
  • Wed, Nov. 16, 12:16 PM
    • James Leigh-Pemberton, the head of U.K. Financial Investments - which manages the State's investment in RBS - today told Parliament the fine stemming from the U.S. DoJ mortgage probe could be as high as $12B.
    • Source: Caroline Beinham in the FT
    • He's basing his estimate on the big numbers (as much as $14B) being floated for Deutsche Bank's fine, and admits it could just as easily be $5B.
    • “The direct-drive impact of that number on book value, and particularly on surplus capital, is almost a penny-for-penny impact on the share price," he says.
    • RBS is lower by 2.25% today.
    | Wed, Nov. 16, 12:16 PM | 2 Comments
  • Fri, Nov. 11, 8:26 AM
    • "Some Democrat appointments at the DOJ have only a few weeks left before they are replaced," says Barclays, laying out a bullish case for European lenders who are likely to face smaller mortgage-related settlements.
    • Chief among them is Deutsche Bank (NYSE:DB), which has been staggered by reports that Obama's DOJ wants $14B to walk away.
    • Also in talks with Justice are Credit Suisse (NYSE:CS) and RBS. Under investigation, but not necessarily in settlement discussions yet are Barclays (NYSE:BCS), UBS, and HSBC.
    | Fri, Nov. 11, 8:26 AM | 15 Comments
  • Thu, Nov. 10, 9:17 AM
    | Thu, Nov. 10, 9:17 AM
  • Wed, Nov. 9, 4:19 AM
    • Donald Trump's victory throws into question the core assumption the Fed will raise interest rates soon and follow with further gradual hikes over coming years.
    • Banks are struggling on the news. Fed Funds futures are now pricing in less than a 50% chance of a December move and the ECB is likely to interpret the uncertainty with stimulus and lower rates for longer.
    • Premarket movement: GS -8.3%, WFC -3.5%, C -3.2%, BAC -2.4%, CS -2.3% JPM -2.2%, LYG -1.8%, HSBC -1.7%, USB -1.4%, BCS -1.5%, ING -0.6%, MS, DB, RBS, UBS
    • #Election2016
    | Wed, Nov. 9, 4:19 AM | 128 Comments
  • Tue, Nov. 8, 3:47 AM
    • Looking to draw a line under one of its longest-running customer service battles, RBS is putting aside £400M to reimburse clients who claim they were mistreated by its small business restructuring unit.
    • The funds will go towards both an "automatic refund of complex fees" paid by such firms between 2008 and 2013, as well as operational costs of the complaints process.
    | Tue, Nov. 8, 3:47 AM | 1 Comment
  • Thu, Nov. 3, 1:00 PM
    | Thu, Nov. 3, 1:00 PM
  • Thu, Nov. 3, 10:35 AM
    • The U.K. High Court today threw a wrench in the government's hope for a "hard Brexit," ruling Parliament must approve the invocation of Article 50. In addition, fears of earnings-crushing negative rates are brushed aside as the Bank of England shifts its focus from growth worry to the risk of too-high inflation.
    • The advance for the banks today is especially notable given the 0.5% decline in the FTSE 100.
    • Royal Bank of Scotland (RBS +6.5%), Barclays (BCS +4.1%), HSBC (HSBC +0.6%), Lloyds (LYG +3.8%), Standard Chartered (OTCPK:SCBFF +1.1%)
    | Thu, Nov. 3, 10:35 AM
  • Thu, Nov. 3, 9:15 AM
    | Thu, Nov. 3, 9:15 AM
  • Fri, Oct. 28, 9:14 AM
    • The Royal Bank of Scotland (NYSE:RBS): Q3 net income of £469M
    • Total income of £3.31B (+4.1% Y/Y)
    • Press Release
    | Fri, Oct. 28, 9:14 AM
  • Fri, Oct. 28, 4:31 AM
    • Novo Nordisk (NYSE:NVO) -15% premarket after cutting its profit forecast for 2016 amid difficulties in the U.S.
    • Sanofi (NYSE:SNY) shares are up 7.4% before the bell, lifting its profit outlook for the year and detailing news of a big buyback.
    • Risk aversion and negative rates continued to weigh on trading at UBS, but the bank recorded a Q3 beat.
    • RBS swung to a third-quarter loss on legacy misconduct and restructuring charges.
    • Total (NYSE:TOT) topped expectations thanks to cost cuts and an increase in output.
    • AB Inbev (NYSE:BUD) -3% premarket due to sorrows in Brazil, cutting its guidance due to weakness in that market.
    | Fri, Oct. 28, 4:31 AM | 24 Comments
  • Tue, Oct. 25, 3:14 AM
    • A series of huge DOJ fines on Barclays (NYSE:BCS), Credit Suisse (NYSE:CS) and Deutsche Bank (NYSE:DB) for mis-selling mortgage securities could be postponed until after next month's presidential election, Sky News reports.
    • The delay also means RBS will likely have to account for the majority of a fine in its 2017 results, making it virtually certain that the bank will record its tenth consecutive annual loss.
    | Tue, Oct. 25, 3:14 AM | 8 Comments
  • Tue, Oct. 11, 5:04 AM
    • Royal Bank of Scotland (NYSE:RBS) has denied trying to profit from deliberately causing the failure of SME businesses during and after the financial crisis.
    • Shares in the U.K. government owned lender fell sharply yesterday on the whistleblower allegations revealed by the BBC and Buzzfeed.
    • RBS said it should have done better for SME customers in certain areas but any issues that existed have now been resolved.
    | Tue, Oct. 11, 5:04 AM
  • Thu, Sep. 29, 5:35 PM
    | Thu, Sep. 29, 5:35 PM | 4 Comments
  • Wed, Sep. 28, 2:45 AM
    • Royal Bank of Scotland (NYSE:RBS) has agreed to pay $1.1B of penalties to U.S. authorities in order to settle claims that it mis-sold mortgage-backed securities to credit unions that later failed.
    • The settlement brings the National Credit Union Administration's recoveries against various banks to $4.3B in lawsuits over their sale of MBSs before the financial crisis.
    • RBS shares are down 42% YTD.
    | Wed, Sep. 28, 2:45 AM