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Royal Bank of Scotland Group PLC (RBS.L)

RBS.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Royal Bank of Scotland says Russian broadcaster RT's bank accounts in Britain remain open and are still operative - Spokesperson
Monday, 17 Oct 2016 01:25pm EDT 

: Royal Bank Of Scotland Group Plc - Royal Bank of Scotland says Russian broadcaster RT's bank accounts in Britain remain open and are still operative - Spokesperson ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

RBS prices $2.65 bln 7-year bonds
Thursday, 8 Sep 2016 02:07am EDT 

Royal Bank Of Scotland Group Plc : Completed pricing of its usd 2,650,000,000 aggregate principal amount of 3.875% senior notes due 2023. .The proceeds to RBSG (before expenses and underwriting discounts) of approximately $2,639,267,500 will be used for general corporate purposes..  Full Article

RBS prices $2.65 bln of additional tier 1 capital notes
Thursday, 11 Aug 2016 02:00am EDT 

Royal Bank Of Scotland : Royal bank of scotland group plc successfully priced $2.65 billion additional tier 1 capital notes .Net proceeds of approximately usd 2,623,500,000 will be used for general corporate purposes..  Full Article

Royal Bank of Scotland posts wider H1 losses, scraps W&G carve-out plan
Friday, 5 Aug 2016 02:10am EDT 

Royal Bank Of Scotland : Net interest margin (nim) of 2.18% for h1 2016 was 4 basis points higher than h1 2015 . An operating loss of £695 million in q2 2016 compared with an operating profit of £224 million in q2 2015 and £421 million in q1 2016. . In march 2016 rbs made a £4.2 billion payment into royal bank of scotland group pension fund, being an accelerated payment of existing committed future contributions . Net lending in commercial banking increased by £7.9 billion in h1 2016, 17% growth on an annualised basis. . Rbs will instead prioritise exploring alternative means to achieve divestment. . Restructuring costs are expected to remain high in 2016, totalling over £1 billion. H1 2016 restructuring charge was £630 million, of which £345 million related to williams & glyn. . Capital resolution disposal losses of approximately £1.5 billion . We continue to deal with a range of uncertainties in external environment and we will also have to manage conduct-related investigations and litigation, including us rmbs, throughout 2016, and substantial related incremental provisions may be recognised during remainder of year . Impairment charge of £264 million in relation to shipping portfolio. . Adjusted return on equity across pbb, cpb and cib was 11% for both h1 2016 and q2 2016. Across pbb and cpb, net lending grew by 15% on an annualised basis in h1 2016..  Full Article

RBS sees 150 mln stg pretax gain from VocaLink sale
Thursday, 21 Jul 2016 08:15am EDT 

Royal Bank Of Scotland Group Plc :RBS expects to report an initial pre-tax gain of approximately 150 mln stg on completion of VocaLink deal.  Full Article

Royal Bank of Scotland names Frank Dangeard as non-exec director
Monday, 16 May 2016 05:00am EDT 

Royal Bank Of Scotland Group Plc :Announces today that Frank Dangeard has been appointed as a non-executive director of RBS with immediate effect..  Full Article

Royal Bank of Scotland Group PLC -UK watchdog asks banks to check for ties to Panama Papers - Reuters News
Thursday, 7 Apr 2016 06:24am EDT 

Royal Bank of Scotland Group PLC:Britain's Financial Conduct Authority has asked 20 banks and other financial firms to check if they have any ties to Panama law firm Mossack Fonseca, the regulator said on Thursday. - RTRS.A massive leak of documents from the firm released this week detailed how the world's rich skipped through loopholes to park cash in low-tax jurisdictions.Recipients of the letter have been given until April 15 to respond to the disclosure request. More than 500 banks, their subsidiaries and branches registered nearly 15,600 shell companies with Mossack Fonseca, according to the International Consortium of Investigative Journalists (ICIJ).HSBC, and its affiliates created more than 2,300 in total, the ICIJ says.HSBC has dismissed suggestions it actively used offshore structures to help clients cheat on their taxes.The bank has said the documents from Panama pre-dated a thorough reform of its business model.Spokespeople for HSBC and Barclays BARC.L declined to comment on the FCA correspondence. RBS and Standard Chartered both said they were reviewing their operations and co-operating fully with regulators on the issue.News of the FCA's letter follows calls from Conservative lawmaker and chairman of Britain's Treasury Select Committee, Andrew Tyrie, for a thorough investigation of the trove and prosecutions "wherever possible".  Full Article

Royal Bank of Scotland Group PLC to cut almost 450 investment banking jobs in UK RBS.L - theguardian
Thursday, 17 Mar 2016 11:18am EDT 

Royal Bank of Scotland Group PLC:Royal Bank of Scotland is cutting 448 investment banking jobs in the UK, moving two-thirds of them to India - theguardian.The bank, 73% of which is owned by the taxpayer, said it would cut back- and middle-office roles in its investment bank, including a small number of technology jobs.Under its chief executive, Ross McEwan, RBS has been shrinking the division to focus on its personal and small business operations in the UK and Ireland.About 300 jobs will go offshore, to an existing RBS operation based in Gurgaon, near Delhi, and Chennai in southern India.London and Newcastle-under-Lyme will bear the brunt of the cuts, along with Manchester. The layoffs will happen by the end of next year.The move comes just days after RBS announced it would lay off 550 investment advisers , replacing them with an automated system that will offer advice based on customers responses to a series of questions.The bank, which was bailed out during the financial crisis, reported a £2bn loss for 2015, its eighth annual loss in a row.  Full Article

Royal Bank of Scotland Group PLC cuts 550 jobs - FT - Reuters News
Sunday, 13 Mar 2016 10:55am EDT 

Royal Bank of Scotland Group PLC:Royal Bank of Scotland is cutting its face-to-face advice service and slashing 550 jobs in another move to reduce costs, as more customers turn to digital “robo-advisers” - FT.The state-backed bank is cutting 220 investment advice positions and scaling back its service to only those customers with at least £250,000 to invest, more than double the current £100,000 threshold. RBS is also removing 200 protection advice jobs.The move soon comes after RBS, which is 73 per cent owned by government, posted its eighth successive net annual loss, dealing a blow to government plans to sell off the bank.  Full Article

Royal Bank of Scotland Group PLC - UBS, others reach $103 million muni bond rigging settlements - Reuters
Wednesday, 24 Feb 2016 10:38pm EST 

Royal Bank of Scotland Group PLC:UBS AG and five other banks and brokerages agreed to pay roughly $103 million to settle claims that they conspired to rig prices for U.S. municipal securities.Wednesday's accords include payments of $100.5 million to investors. Two of the defendants, France's Natixis SA and Societe Generale, also agreed to pay $2.8 million to resolve related claims by 21 U.S. states and Washington, D.C.If approved by a federal judge, the private settlements would end nearly eight years of class action litigation, and result in more than $226 million of payouts from 11 defendants, led by $44.6 million from JPMorgan Chase & Co.Several banks have during that time also agreed to pay more than $740 million, led by JPMorgan's $228 million, to resolve related probes by the U.S. Department of Justice and state regulators. At least 17 people were convicted or pleaded guilty, the Justice Department has said.Wednesday's private settlements included $32 mln with UBS, $28.45 mln with Natixis, $25.41 mln with Societe Generale, $9.75 mln with Piper Jaffray Cos, $3.5 mln with Royal Bank of Scotland Group Plc's National Westminster Bank, and $1.4 mln with George K. Baum & Co, court papers show.Other defendants that have settled with investors and regulators are Wells Fargo & Co WFC.N, Bank of America Corp BAC.N and General Electric Co GE.N, UBS has also settled with regulators, and Morgan Stanley MS.N with investors.  Full Article

UPDATE 2-RBS says debit cards working normally after glitches for customers in Britain

LONDON, Oct 14 Royal Bank of Scotland said its debit cards are now working normally after customers experienced problems across Britain earlier on Friday, in the latest apparent glitch to hit the bank's IT systems.