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The Royal Bank of Scotland Group plc (RBS)

  • Jun. 20, 2013, 4:47 AM
    The British banking sector needs to formulate plans to raise a combined £13.4B in order to meet Basel 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 (BCS) was £3B. However, the U.K. units of Banco Santander (SAN), HSBC (HBC) and Standard Chartered (SCBFF.PK) were in surplus. (PR)
    | Jun. 20, 2013, 4:47 AM | Comment!
  • Jun. 13, 2013, 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.
    | Jun. 13, 2013, 6:54 AM | Comment!
  • Jun. 13, 2013, 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.
    | Jun. 13, 2013, 4:31 AM | Comment!
  • Jun. 12, 2013, 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.
    | Jun. 12, 2013, 3:10 PM | Comment!
  • Jun. 12, 2013, 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.
    | Jun. 12, 2013, 12:24 PM | Comment!
  • Jun. 9, 2013, 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.
    | Jun. 9, 2013, 6:05 AM | 4 Comments
  • Jun. 4, 2013, 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.
    | Jun. 4, 2013, 5:09 AM | 1 Comment
  • May 31, 2013, 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).
    | May 31, 2013, 11:42 AM | Comment!
  • May 28, 2013, 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.
    | May 28, 2013, 8:01 AM | Comment!
  • May 28, 2013, 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.
    | May 28, 2013, 7:23 AM | Comment!
  • May 28, 2013, 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.
    | May 28, 2013, 4:02 AM | 2 Comments
  • May 27, 2013, 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.
    | May 27, 2013, 1:52 AM | Comment!
  • May 22, 2013, 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.
    | May 22, 2013, 11:41 AM | Comment!
  • May 20, 2013, 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.
    | May 20, 2013, 7:25 AM | 1 Comment
  • May 17, 2013, 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%.
    | May 17, 2013, 5:56 AM | 7 Comments
  • May 16, 2013, 9:17 AM
    Royal Bank of Scotland (RBS) continues to slash expenses, announcing another 1.4K job cuts, these coming from the retail division. The bank - 81% state-owned - and hoping to become private again some day, has cut more than 30K positions and shed loads of assets since the financial crisis. Shares +2.1% premarket.
    | May 16, 2013, 9:17 AM | 1 Comment
RBS vs. ETF Alternatives
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