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RBS vs. ETF Alternatives
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Thursday, June 20, 5:01 AM The British government "will urgently investigate" the case for splitting RBS (RBS) into "good" and "bad" banks, Finance Minister George Osborne said yesterday. The decision will depend on whether the move would support the economy, if it were in the interests of taxpayers, and if it were to speed up RBS's return to private ownership, which is some way off. However, Lloyds (LYG) is in good enough shape for the government to start selling its 39% stake in the bank within months. Comment! [Financials, Top Stories]
- Thursday, June 20, 4:47 AM The British banking sector needs to formulate plans to raise a combined £13.4B in order to meet Basle III capital requirements, the Bank of England's Prudential Regulation Authority said today. Banks had a total shortfall of £27.1B at the end of 2012 and have already drawn up programs to raise £13.7B, although some of the proposals need regulatory approval. RBS's (RBS) shortfall was £13.6B, Lloyds' (LYG) was £8.6B and Barclays was £3B. However, the U.K. units of Banco Santander (SAN), HSBC (HBC) and Standard Chartered (SCBFF.PK) were in surplus. (PR) Comment! [Top Stories, Financials, Global & FX]
- Thursday, June 13, 6:54 AM Royal Bank of Scotland (RBS) is downgraded to Sell by Deutsche Bank, citing valuation and the departure of Stephen Hester as CEO. Shares -2% premarket. Comment! [Financials]
- Thursday, June 13, 4:31 AM RBS (RBS) shares drop 6.5% in London following the surprise news yesterday of the departure of CEO Stephen Hester, who this morning denied that he was forced out. The bank confirmed it will cut further jobs as part of a restructuring of its investment bank, with reports putting the number at around 2,000. Meanwhile, a parliamentary study that is to be released soon will reportedly say that there is good case for breaking up RBS into a "good" and "bad" bank but will stop short of saying that it should be done. Comment! [Financials, Top Stories, On the Move]
- Wednesday, June 12, 3:10 PM Royal Bank of Scotland (RBS -3.7%) will cut up to 2K jobs in its investment bank tomorrow, reports Sky News, one day after CEO Stephen Hester surprisingly announced he is stepping down. The move will bring to nearly 40K the number of jobs the state-owned bank has slashed since its financial crisis bailout. Comment! [Financials]
- Wednesday, June 12, 12:24 PM Royal Bank of Scotland (RBS -0.8%) CEO Stephen Hester will step down later this year and a succession search will commence immediately, reports CNBC. Comment! [Financials, Breaking News]
- Sunday, June 9, 6:05 AM The U.K.'s Parliamentary Commission on Banking Standards will reportedly debate a 600-page report that it has put together tomorrow and on Tuesday, with probable topics of discussion including splitting RBS (RBS) up into "good" and "bad" banks, a lack of competition, excessive pay and inadequate regulation. One of the problems, says an official, is that the banks are too big and complex for effective governance. 4 Comments [Financials]
- Tuesday, June 4, 5:09 AM A British parliamentary report could raise the idea of splitting RBS (RBS) into a good bank that can be privatized and a state-run bad bank that would hold the company's toxic assets. However, the report is unlikely to wholeheartedly endorse the idea. One problem is that Chancellor George Osborne says that splitting RBS would require the government to totally nationalize it first at a cost of up to £10B. 1 Comment [Financials]
- Friday, May 31, 11:42 AM RBS trims the list of bidders for 315 branches, notifying Chris Flowers and partner Apollo Global (APO) their bid will not be a winner. This leaves 3 other P-E consortiums in the race, with bids estimated to be in the £800M-£1B range. The sale of the branches - known as "Project Rainbow" - is being demanded by regulators as part of the bank bailout (now 82% state-owned). Comment! [Financials]
- Tuesday, May 28, 8:01 AM The U.K.'s biggest four banks (RBS, HBC, LYG, BCS) will have eliminated about 189K jobs by the end of 2013 from peak staffing levels, according to Bloomberg. At about 606K people worldwide, staffing levels will be the least since 2004. "The big bulky mass layoffs ... are probably gone," says an analyst, but expect employment numbers to drift lower as the lenders continue to struggle to find growth. Meanwhile, U.S. banks are happily picking off top talent from RBS. Comment! [Financials]
- Tuesday, May 28, 7:23 AM RBS is cut to Sell from Hold at Citigroup. Shares are up 2.2% in London trade today and ahead 60% Y/Y. Comment! [Financials]
- Tuesday, May 28, 4:02 AM Bloomberg gets out its calculator and works out that Britain's top four banks will have cut their combined headcount by 189,000 by the end of this year from peak staffing levels of 795,000 in 2008. RBS (RBS) will have cut 78,000 jobs and Lloyds 31,000 through lay-offs and asset sales, while HSBC (HBC) and Barclays (BCS) have also been making sizable reductions. The moves come as U.K. banks streamline their operations and boost their capital ratios under much regulatory pressure. 2 Comments [Top Stories, Financials]
- Monday, May 27, 1:52 AM RBS's (RBS) board has reportedly held talks about identifying a successor to CEO Stephen Hester, placing doubt upon his long-term future as the bank prepares for the sale of the government's 82% stake. However, RBS's non-executive directors are keen to retain Hester, with one insider saying it's "likely" that he will be managing RBS for a good while to come. Comment! [Financials]
- Wednesday, May 22, 11:41 AM Neither Lloyds (LYG +1.9%) not Royal Bank of Scotland (RBS +1.5%) will need to sell shares or accept more government aid as the U.K.'s banking regulator signs off on using future earnings and asset sales to fill capital holes. The banks "have advanced their plans to a position where disclosure is appropriate," says the Prudential Regulation Authority. Comment! [Financials]
- Monday, May 20, 7:25 AM If Scotland were an independent state, its banking sector would have assets totaling 1250% of GDP, a U.K. government report says, throwing the financial risks inherent in a 2014 referendum on Scottish independence into stark relief. By contrast, Cyprus' banks had assets equivalent to 700% of economic output before the crisis. Such an "exceptionally large banking sector," centered around two large players in Royal Bank of Scotland (RBS) and Bank of Scotland would be vulnerable to financial shocks, the U.K. Treasury notes. Scotland's Finance Secretary called the report "a feeble attempt to undermine confidence" in an independent Scotland. 1 Comment [Global & FX, Financials]
- Friday, May 17, 5:56 AM UBS upgrades global financials to Overweight from Underweight on a healing global economy, rebuilt capital, and the sector's shift "from being a net issuer to a net distributor of cash." Furthermore, the U.S. banking sector (XLF) is taken to Overweight as balance sheet strength and attractive valuations play well with the housing market recovery to create compelling opportunities. European banks (EUFN) are lifted to Neutral "with a preference towards Nordic and U.K. banks." Financials respond in London with LLoyds Banking Group (LYG) +2.3%, Royal Bank of Scotland (RBS) +3.3%, and Barclays (BCS) up 0.5%. 6 Comments [Financials, Global & FX]
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MarketWatch: Oil firms Weigh on U.K. Stocks; *Banks Climb. $LYG $RBS http://on.mktw.net/QcxCpa - View all 1 replies
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x oil -field: Bloomberg: Pound Gains for Second Day Versus Euro on Bets Economy http://bloom.bg/WQhEna Will Grow. $LYG
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The Wall Street Transcript
Positive Property Level Trends in Medical Real Estate; Analyst Discusses $HCN, $HCP, $VTR, $OHI,$SUNH, $RBS - http://su.pr/18bMOZ - View all 0 replies
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The Wall Street Transcript
Positive Property Level Trends in Medical Real Estate; Analyst Discusses $HCN, $SNH, $SBRA, $SUNH, $RBS, $CWSRF - http://su.pr/5p8gPG - View all 0 replies
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LATEST REPLIES
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x oil -field
MarketWatch: Oil firms Weigh on U.K. Stocks; *Banks Climb. $LYG $RBS http://on.mktw.net/QcxCpa - View all 1 replies
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x oil -field: Bloomberg: Pound Gains for Second Day Versus Euro on Bets Economy http://bloom.bg/WQhEna Will Grow. $LYG
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Michael Bryant
London Olympics should boost British economy, giving one bright spot in Europe. May be good news for Royal Bank of Scotland (RBS). - View all 2 replies
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Jacob Wolinsky
Morning News (1/24/11): PE Returns Called Into Question http://bit.ly/yBUgbu $C $MS #CALPERS $GS $RBS - View all 1 replies
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Nick Pollari: I think they have tremendous exposure and I think European yields will continue to creep up. Mark to Market will not be their friend.
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golfitobob: hola LK. all banks popped and even I played BAC for some food money esta es para usted http://on.ft.com/qAN7KG For RBC -
Leonid Kanopka: :) ya I love these rallies, it is an easy way to day trade and capitalize on momentum for a short quick gain.