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The Royal Bank of Scotland Group plc (RBS)

  • Jan. 18, 2013, 8:14 AM
    Admitting the government overpaid when rescuing Lloyds (LYG) and RBS in 2008, the BOE warns the two banks still need to raise a substantial amount of capital by March. The banks are trying to sell assets or cut back investment banking operations as opposed to requesting more government funds. At this point U.K taxpayers are sitting on losses on the government investment as opposed to the profits booked by the U.S. Treasury.
  • Jan. 15, 2013, 2:54 AM
    RBS (RBS) will reportedly have to pay up to £500M to settle charges that it tried to manipulate inter-bank interest rates such as Libor. As part of an "accountability probe," the bank may also fire two senior executives, and it intends to claw back payments to those involved in the alleged rigging and slash its bonus pool. The fine will add to the $1.5B and £290M that UBS and Barclays respectively have agreed to pay.
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  • Jan. 7, 2013, 4:56 PM
    Apollo Global (APO) and J.C. Flowers have reportedly teamed up to bid as much as €1B on 316 RBS branches which were recently put back on the market after Banco Santander pulled out of an agreement to buy them. Flowers exec and former Westpac chief David Morgan has reportedly already been lined up to run the business.
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  • Jan. 7, 2013, 4:04 AM
    Credit Agricole (CRARF.PK) leads major European banks higher, rising 4.7% after regulators ease Basel liquidity rules, followed by Deutsche Bank (DB) +4.3%, Unicredit (UNCFY.OB) +4.3% and Barclays (BCS) +3.7%. Also, SocGen (SCGLF.PK) +3.4%, HSBC (HBC) +0.75%, Lloyds (LYG) +1.9%, Santander (SAN) +2%, RBS (RBS) +1.5%, UBS (UBS) +2% and Credit Suisse (CS) +3.4%. Italy's Banca Monte dei Paschi di Siena (BMDPY.PK) +15%.
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  • Jan. 3, 2013, 5:36 AM
    British banks intend to increase loans to companies and consumers after having already provided more mortgages in Q4, a Bank of England survey has found. The government will no doubt be happy given that banks cited its funding-for-lending scheme, which offers banks cheap loans for re-lending to businesses and individuals, as a major factor in the increased availability of credit.
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  • Dec. 19, 2012, 7:10 AM
    Following a 5-month 43% move higher in the EUFN, the European financial sector is upgraded to Neutral from Sell at Credit Suisse. Earlier this week, Meredith Whitney turned bull on the U.S. financial sector after its torrid 2012 run.
  • Dec. 17, 2012, 4:54 AM
    RBS (RBS) is reportedly close to agreeing a deal with European and North American regulators to pay £350M to settle allegations that it rigged inter-bank interest rates such as Libor. That's above the £290M that Barclays agreed to pay but below the $1.6B penalty that UBS is reportedly negotiating.
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  • Dec. 17, 2012, 4:44 AM
    The U.K.'s Parliamentary Commission on Banking Standards is expected to call for banks to be broken up rather than just forcing them to ring-fence their retail operations from their investment banking activities, as recommended in the Vickers Report. The Commission will makes its call in its own report, which is due to be released on Friday.
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  • Dec. 10, 2012, 6:03 AM
    The Bank of England and FDIC unveil the first cross-border plan to deal with too-big-to-fail banks that start...failing. Senior management would be sacked, shareholders would be wiped out, and unsecured bondholders "can expect that their claims would be written down to reflect any losses that shareholders cannot cover," which didn't happen in the financial-crisis bailouts. (PR)
  • Dec. 3, 2012, 5:51 AM
    RBS (RBS) reportedly plans to restart paying dividends in late 2014, but predicts it will take ten years for it to become fully re-privatized. The government will give the bank time to boost its balance sheet before selling its 82% stake in four offerings that would each amount to over £10B. That compares with RBS's market cap of £33.5B.
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  • Dec. 3, 2012, 3:37 AM
    UBS (UBS) is reportedly nearing an agreement with U.K. and U.S. authorities to pay over $450M to settle allegations that it manipulated global inter-bank interest rates, including Libor. The amount would top the $450M that Barclays paid to settle accusations over its role in the rate rigging, and could increase the possibility that other banks such as RBS (RBS) and Deutsche Bank (DB) will face large fines as well.
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  • Nov. 30, 2012, 7:19 AM
    Unable to find a buyer for its Indian banking business, RBS will instead wind the business down. The bank thought it had a deal with HSBC, but the terms of the agreement couldn't be satisfied, according to HSBC. RBS had originally hoped to get a premium to the business' £59M book value.
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  • Nov. 29, 2012, 6:34 AM
    The Bank of England's Financial Policy Committee accuses British banks of possibly misleading investors about the health of their finances. In its semi-annual report, the panel says banks may be overstating capital levels by not recognizing potential losses on loans and playing down risks. Banks may also not have made enough provisions to cover the costs of compensating customers for the mis-selling of certain financial products.
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  • Nov. 28, 2012, 1:57 PM
    The pendulum continues to swing towards too much capital for banks as the Fed considers forcing U.S. units of foreign lenders to house the businesses in regulated holding companies. It makes sense from the Fed point of view - the U.S. unit of, say, Barclays, could be more easily wound down in a crisis. For the banks, it's another hit to ROE.
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  • Nov. 28, 2012, 3:56 AM
    The Fed is reportedly considering forcing foreign banks to combine their U.S. operations into American holding companies, which would require the units to meet minimum capital standards regardless of the resources of the parent firms. The move could increase costs, force foreign banks to inject billions of dollars into their U.S. ops, limit the movement of capital and even hurt lending.
  • Nov. 27, 2012, 7:54 AM
    Royal Bank of Scotland (RBS) is upgraded to Buy at UBS, which believes Mark Carney's appointment to head the Bank of England signals a more conciliatory regulatory environment for U.K. banks. Gerard Lane of Shore Capital disagrees: "He strikes us as a hardliner." Citigroup notes average bank core tier 1 capital ratios are lower in Canada than in the U.K.
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Company Description
Royal Bank of Scotland Group (The) PLC is an international banking and financial services company. The Company through its subsidiaries provides banking products and services to personal, commercial and large corporate and institutional customers.
Sector: Financial