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The Royal Bank of Scotland Group plc (RBS)

  • Jul. 22, 2010, 9:23 AM
    EU officials' overt confidence that their countries' banks will easily pass stress tests has left analysts anything but reassured. "All banks passing the tests would mean the tests were useless," London economist Marie Diron says.
  • Jul. 22, 2010, 7:19 AM
    Santander (STD +4%) is reportedly considering a London flotation of its U.K. operations by the end of the year, which could raise as much as £3B ($4.5B). The bank is close to a £1.5B-1.8B purchase of a 318-branch network from RBS (RBS), and may have to raise money to retain sufficient capital levels post-purchase.
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  • Jul. 20, 2010, 7:40 AM
    Three P-E groups submitted bids for RBS' (RBS -1.4%) WorldPay unit by yesterday's deadline, with a consortium comprising Advent International and Bain Capital seen as the front runner. The unit is likely to sell for £2.5B-3B ($3.8B-4.6B).
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  • Jul. 16, 2010, 8:40 AM
    Royal Bank of Scotland (RBS) says it will carefully consider all options following Goldman Sachs' (GS +4.3%) $100M settlement over its marketing of subprime mortgages. RBS stopped short of saying it will sue Goldman for the remaining cash - an option the SEC left open - but investors have urged it to pursure that route.
  • Jul. 8, 2010, 8:17 AM
    European banks are doing well this morning after European regulators released more details on the stress tests underway. Premarket: DB +1.25%, RBS +0.7%, ING +1.1%, LYG +1.9%, CS +1.3%, BCS +1.8%. (Notable loser: STD -1%)
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  • Jul. 8, 2010, 8:12 AM
    European regulators released (some) details of the stress tests underway. What we know: The tests will cover 91 banks accounting for 65% of the region's banking assets, and the adverse scenario will be a double-dip recession or sovereign shock. Still MIA: Some key details, including what's considered an acceptable capital level.
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  • Jul. 7, 2010, 7:23 AM
    RBS (RBS -1.1%) is preparing to sell up to £3B ($5B) of real estate loans as it continues to shed non-core assets, with further loan sales likely if this one is successful.
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  • Jul. 6, 2010, 7:23 AM
    For the first time, EU officials say European countries will be able to tap an existing €500B ($629M) EU safety net, as needed, if they exhaust national funds on problem banks. The EU's Olli Rehn also confirms stress tests will include " sovereign debt shock in order to reinforce the credibility of results." Premarket: DB +2.2% , UBS +2.7% , ING +3.7% , LYG +3.6% , BCS +1.9% .
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  • Jun. 30, 2010, 7:45 AM
    The ECB's tender was met with low demand today, a positive reflection on banks' abilities to raise money from capital markets, with a total of €131.93B ($160.92B) allotted. Forecasts had run as high as €250B. The news is lifting European banks, and the euro. Premarket: UBS +2%, STD +4.5%, LYG +1.5%, CS +1.9%, BCS +4.6%, DB +3.25%.
  • Jun. 29, 2010, 2:53 PM
    Niall Ferguson says Europe's banks make him nervous. Ferguson says he's amazed how long it took markets to realize that there was a problem with European banks, which were more leveraged than U.S. banks.
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  • Jun. 28, 2010, 9:23 AM
    "Get ready for the cliff-edge," warns RBS' credit team, anticipating a "collapse" in the price of stocks and commodities as the U.S. and EU economies, and the European banking sector, teeter at the precipice. They're suggesting investors buy maximum long-duration bonds in safe haven markets.
  • Jun. 28, 2010, 8:56 AM
    Major European banks are reportedly trying to revive the struggling wholesale finance market with a new kind of enhanced securitized product designed to attract lenders such as pension funds and hedge funds. "It’s basically an issue of credibility," said one senior banker, "and the eurozone has to get its credibility back.”
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  • Jun. 24, 2010, 8:21 AM
    The U.K.'s new annual bank levy will fall predominantly on the shoulders of domestic banks. More than half of 2011's expected £2B draw will come from Barclays, RBS, HSBC, Lloyds and Standard Chartered. By 2013, that figure will rise to £2B out of an expected £2.5B draw. Premarket: BCS -1.3%, RBS -1.15%, HBC -0.4%, LYG -2%.
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  • Jun. 22, 2010, 8:19 AM
    The U.K. will introduce a permanent bank tax starting in January. The tax will raise around £2B annually and be based on the size of banks' balance sheets.
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  • Jun. 18, 2010, 7:31 AM
    RBS (RBS) is accelerating its asset sales. With this week's disposal of units in the Middle East and several minor Asia sales imminent, RBS is moving towards its goal of transitioning from retail/commercial banking in those regions to wholesale banking, and pocketing around £200M ($294M) in the process.
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  • Jun. 17, 2010, 8:42 AM
    "We've made an offer for the offices of RBS (RBS +3.5%) which fit like a glove," confirms Santander's (STD +2.2%) deputy chairman, adding the bank has also talked about possibly merging its U.S. ops with M&T Bank (MTB +1.05%). (previously)
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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