Wednesday, 27 October 2021

Tag Archives: Royal Bank of Scotland

RBS investors call on new boss Rose to shrink NatWest Markets

MANCHESTER: With weeks to go until Alison Rose takes over as CEO of Royal Bank of Scotland, shareholders are demanding a shake-up of the state-backed lender, with cuts to its minnow investment bank topping their agenda. Rose’s predecessor Ross McEwan said NatWest Markets was worth keeping for its ability to ...

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RBS unveils 1.7 billion pound dividend

LONDON: Royal Bank of Scotland on Friday announced a 1.7 billion pound ($2.06 billion) dividend, but warned a tough economic environment will curtail its profitability over the next 18 months. The state-backed lender posted stronger-than-expected half-year pretax profits of 2.7 billion pounds, above forecasts of 2.3 billion pounds according to ...

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Royal Bank of Scotland says CEO resigns

LONDON: Britain’s bailed-out Royal Bank of Scotland said that chief executive Ross McEwan has resigned after steering it to a “stronger” financial position over the last five years. “RBS announces that Ross McEwan has resigned from his role as chief executive officer and executive director,” read a statement from the ...

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RBS pays first dividend in decade

LONDON: Britain’s Royal Bank of Scotland paid its first dividend in a decade, returning 2 pence per share to around 190,000 shareholders who haven’t seen a payout since RBS’s government bailout in 2008. The bank has spent the past ten years trying to return to its roots as a prudent ...

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RBS posts first annual net profit in a decade

MANCHESTER: Royal Bank of Scotland has today reported its first full-year profit since 2007. But the symbolic moment was bitter-sweet for the bank which had hoped to get a multi billion-dollar misconduct charge out of the way instead. The bank’s £752m profit beat a company-provided average of analyst forecasts for ...

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Scottish lawmakers to pressure RBS to stop branch closures

EDINBURGH: Scottish lawmakers will debate a motion calling for Royal Bank of Scotland (RBS.L) to halt planned cuts to its branch network, which opponents say will damage the remote communities they are meant to serve. The Edinburgh-based bank, which has been owned by the British government since being rescued during ...

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RBS Head Says Banks Need Brexit Transition Details by Early 2018

MANCHESTER: Royal Bank of Scotland Group Plc Chairman Howard Davies said details of a post-Brexit transitional deal with the European Union need to be outlined in the next five months to stop more financial-services jobs from leaving London. “If there are no details by the first quarter of next year, ...

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RBS settles probe into toxic mortgages

Royal Bank of Scotland is to pay £4.2bn to settle claims it mis-sold billions of dollars-worth of toxic mortgage-backed bonds to Fannie Mae and Freddie Mac in the run-up to the financial crisis. In a long-awaited deal that helps RBS move on from its troubled past, the lender agreed to ...

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Shareholders settle multimillion-pound claim against RBS

LONDON: Shareholders who brought a multimillion-pound High Court action against Royal Bank of Scotland (RBS) have settled their claim against the lender, sources have said. The RBS Shareholder Action Group, which brought the £700 million lawsuit and represents 9,000 retail investors and 18 institutions, is understood to have informed the judge that ...

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RBS, Barclays and other banks fined in Swiss franc Libor case

LONDON: Royal Bank of Scotland and Barclays are among banks hit with SFr99m (£78m) of fines by the Swiss competition regulator for operating four separate cartels, as the international fallout from the Libor rate-rigging scandal spreads. The two British lenders were hit with a combined £37m in fines, while HSBC, ...

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