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The Royal Bank of Scotland Group plc (RBS)

  • Mar. 18, 2013, 10:53 AM
    Now concentrating on being the best retail operation it can be, RBS plans to invest £700M over the next 3 years to improve its U.K. bank branches. The plan includes refurbishing the stores and improving mobile banking services. The government continues to hold an 82% stake in the lender.
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  • Mar. 11, 2013, 6:01 AM
    The U.K.'s Parliamentary Commission on Banking Standards has called for the government to assume the power to mete out collective punishment on the country's banks, saying that it should consider breaking them all up into retail and investment-bank activities if even just one of them breaches new ring-fencing rules designed to avoid another bailout.
  • Mar. 8, 2013, 11:59 AM
    With regulators forcing U.K. banks to scale back, U.S. financiers like Wilbur Ross and Chris Flowers are stepping in. Both are among the bidders for 316 RBS branches, and both have invested in alternative lenders as well. Flowers' Castle Trust is interesting - it lends homebuyers a portion of their down payment and helps with financing the rest in exchange for a piece of the profit when the home gets sold.
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  • Mar. 6, 2013, 5:48 AM
    RBS (RBS) should be split up into a healthy and a bad bank, outgoing Bank of England Governor Mervyn King tells a U.K. parliamentary panel, saying that the way the part-nationalization of RBS has been handled has been "a nonsense." The state's ownership "should have been a temporary period," King says. "It has dragged on unnecessarily long."
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  • Mar. 3, 2013, 4:39 AM
    The U.K. reportedly believes it can recover the cost of bailing out RBS (RBS) at a stock price of 407 pence, 19% below the 502 pence that the government paid to rescue the bank. That's because Treasury's calculations take into account the fees that RBS paid for the bailout and other programs. Shares closed at 310.83 pence in London on Friday.
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  • Mar. 1, 2013, 9:10 AM
    Premarket gainers: ISRG +9%. SHS +8%. CERS +8%. DECK +8%. SQNM +7%. BBY +6%. PGH +5%.
    Losers: AT -34%. FWLT -17%. OVTI -15%. RNIN -14%. IEP -12%. ENMD -12%. YOKU -11%. SD -8%. LYG -8%. CWH -6%. RBS -6%. DB -5%.
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  • Feb. 28, 2013, 9:00 AM
    RBS's FY12 operating profit of £3.462B was about inline with expectations, but a miss - says Nomura - if backing out Libor-related cost adjustments and gains on government bond holdings. The Basel 3 capital ratio of 7.7% vs. company plans for 9% this year and 10% in 2014 means dividend discussions can be postponed. At 9.2x core EPS, the stock looks rich, say the analysts. Shares -5.6% premarket.
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  • Feb. 28, 2013, 3:11 AM
    More on RBS (RBS) 2012: return on equity 10%; Tier 1 ratio 10.3%; loan:deposit ratio 100%; non-core assets down to £57B. Chairman Philip Hampton says the bank "is much closer now to being in the good financial health that would allow shareholders to receive a dividend and the government to start to sell its stake." CEO Stephen Hester says, "Our target is for 2013 to be the last big year of restructuring." (PR)
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  • Feb. 28, 2013, 3:05 AM
    RBS (RBS): 2012 net loss £5.97B vs £2B. Revenue -6.3% to £25.79B. Loss due to £4.6B accounting charge for changes in the value of RBS's own credit, $1.1B charge for mis-selling of products, and £381M for Libor fine. Operating profit almost doubles to £3.46B. As expected, to partially float its Citizens U.S. unit in two years and to cut 20% of risk-weighted assets of investment bank to £80B. (PR)
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  • Feb. 24, 2013, 2:59 AM
    RBS (RBS) will reportedly unveil plans on Thursday, along with its FY results, to float its Citizens U.S. retail bank. While an IPO could eventually bring in £8B, RBS will initially sell just 25%. The move is part of RBS's response to political and regulatory pressure to boost its balance sheet and increase its U.K. focus. RBS also intends to continue reducing its investment bank ops, including slashing the size of its balance sheet by £20-30B.
  • Feb. 22, 2013, 3:04 AM
    EU regulators are reportedly looking at reaching a settlement with banks over the rigging over inter-bank interest rates, although some firms don't want to open talks, as they believe that allegations of wrongdoing have no merit. The EU is carrying out three separate probes into at least a dozen banks and inter-dealer brokers.
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  • Feb. 19, 2013, 4:55 AM
    U.K. Prime Minister David Cameron wants to return RBS (RBS +1.3% in London) to private control as soon as possible, but he first wants the bank to accelerate its restructuring, and strengthen its balance sheet and business. Cameron doesn't rule out giving the government's 82% stake away to the public.
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  • Feb. 18, 2013, 4:38 AM
    RBS (RBS) is reportedly nearing an agreement to sell 42 Marriott-operated hotels to Abu Dhabi Investment Authority, possibly for £640M ($992M). RBS took control of the hotels when the previous owners defaulted on their debt in 2011.
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  • Feb. 8, 2013, 8:48 AM
    "This goes much much higher than me," says alleged Libor-fixing ringleader Tom Hayes in a text to the WSJ's David Enrich. Known as "Rain Man" for his brilliance and awkward social skills, Hayes has emerged as "the connective tissue" in banks' attempts to profit as he skipped from RBS to RBC (RY) to UBS, and finally to Citigroup (C).
  • Feb. 6, 2013, 8:18 AM
    More on the RBS/CFTC settlement: "The unlawful conduct continued even after RBS traders learned that a Libor investigation had been commenced by the CFTC." How charming. (full release). Update at 8:20: The U.K.'s FSA fines the bank £87.5M over Libor. RBS shares snore, they're up slightly in London trade.
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  • Feb. 6, 2013, 8:13 AM
    The CFTC fines RBS (RBS) $325M to settle Libor charges. (PR)
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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