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Royal Bank of Scotland Group PLC (RBS.L)

RBS.L on London Stock Exchange

270.20GBp
23 Nov 2017
Change (% chg)

0.70 (+0.26%)
Prev Close
269.50
Open
268.20
Day's High
271.00
Day's Low
267.40
Volume
2,650,625
Avg. Vol
12,252,338
52-wk High
290.50
52-wk Low
187.10

Latest Key Developments (Source: Significant Developments)

UK's Unite says RBS to cut 40 pct IT staff by 2020
Tuesday, 15 Aug 2017 06:10am EDT 

Aug 15 (Reuters) - UK'S UNITE: :UK'S UNITE - ROYAL BANK OF SCOTLAND TOLD STAFF ON AUG.15 THAT IT WILL BE CUTTING A FURTHER 40 PER CENT OF PERMANENT STAFF FROM ITS LONDON IT FUNCTION BY 2020.UK'S UNITE - COUPLED WITH 65 PER CENT REDUCTION OF CONTRACTORS ANNOUNCED TODAY, WILL TOTAL A REDUCTION OF 880 STAFF.UK'S UNITE - "BRANDED ROYAL BANK OF SCOTLAND FIXATION WITH CUTTING EMPLOYEE NUMBERS, RESTRUCTURING AND OFFSHORING WORK AS WHOLLY UNACCEPTABLE".UK'S UNITE - "LATEST ANNOUNCEMENT THAT 650 PERMANENT STAFF AND 230 CONTRACTORS ARE TO LOSE THEIR LIVELIHOODS FOLLOWS ANNOUNCEMENT IN 2016 OF 600 STAFF CUTS".  Full Article

Royal Bank of Scotland to redeem $1.21 dollar preference shares
Monday, 7 Aug 2017 02:05am EDT 

Aug 7 (Reuters) - Royal Bank Of Scotland :Royal Bank of Scotland Group plc ("RBSG") has given notice to holders of redemption of certain series of non-cumulative dollar preference shares.Preference shares will cease to accrue dividends and shall be cancelled and all unmatured dividend coupons and talons (if any) shall become void for any purpose, as from relevant redemption date.Approximately 0.93 billion pounds ($1.21 billion)(equivalent) of preference shares are expected to be redeemed, reducing RBSG's retained earnings and distributable items by approximately 0.93 billion pounds..The redemption amount with respect to each series of Preference Shares shall be paid out of distributable reserves of RBSG.The Series F ADSs, the Series H ADSs and the Series L ADSs will cease to trade on the New York Stock Exchange from the Series F Preference Shares Redemption Date, the Series H Preference Shares Redemption Date and the Series L Preference Shares Redemption Date, respectively.An application will be made to the U.K. Financial Conduct Authority, in its capacity as the U.K. Listing Authority, to cancel the listings of the Series 1 Dollar Preference Shares on the Official List of the U.K. Listing Authority..  Full Article

Royal Bank of Scotland net interest margin stable
Friday, 4 Aug 2017 02:06am EDT 

Aug 4 (Reuters) - Royal Bank Of Scotland :Net interest margin (nim) was stable on h1 2016 at 2.18 percent.A net impairment loss of £116 million.Current estimate of ifrs9 impact if applied on 1 july 2017, is to increase credit impairment provisions by £0.5 billion before tax.An incremental charge of £50 million for williams and glyn remedy package.Defaults in h1 2017 remained at very low levels in uk banking business.  Full Article

Royal Bank Of Scotland updates on remaining state aid obligation
Wednesday, 26 Jul 2017 11:31am EDT 

July 26 (Reuters) - ROYAL BANK OF SCOTLAND GROUP PLC :BEEN INFORMED BY HM TREASURY THAT AN ALTERNATIVE REMEDIES PACKAGE HAS NOW BEEN AGREED IN PRINCIPLE BETWEEN HMT AND EC COMMISSIONER RESPONSIBLE FOR COMPETITION.REVISED PACKAGE IS FOCUSED ON FOLLOWING TWO REMEDIES TO PROMOTE COMPETITION IN MARKET FOR BANKING SERVICES TO SMALL AND MEDIUM ENTERPRISES IN UK.  Full Article

Moody's says UK banks profitability and liquidity to receive boost from BOE low cost funding scheme
Wednesday, 21 Jun 2017 03:12am EDT 

June 21 (Reuters) - :Moody's - UK banks' profitability, funding and liquidity to receive boost from boe low cost funding scheme.Moody's - large banks, primarily Royal Bank of Scotland Plc (A2/A3 stable, baa3); lloyds bank plc (A1/A1 stable, baa1), have driven early TFS demand.Moody's on UK banks - expects that other lenders will follow in 2017, as they fund loan growth while also replacing maturing FLS funds.  Full Article

Royal Bank Of Scotland welcomes credit rating upgrade by Moody's
Thursday, 15 Jun 2017 01:21pm EDT 

June 15 (Reuters) - Royal Bank Of Scotland ::RBS welcomes credit rating upgrade by Moody's.Rating action reflects Moody's expectation for more stable performance in medium term resulting from group's multi-year restructuring.Moody's have also affirmed senior debt ratings at RBS Plc and Natwest Plc.  Full Article

RBS closing on a multibillion pound settlement with U.S. regulator over mis-selling of toxic mortgage bonds - Sky News
Monday, 12 Jun 2017 01:53pm EDT 

June 12 (Reuters) - :Royal Bank of Scotland closing on a multibillion pound settlement with a U.S. Regulator over mis-selling of toxic mortgage bonds - Sky News.  Full Article

Talks between RBS CEO and RBoS shareholder action group ended without a deal- Sky News, citing sources
Friday, 2 Jun 2017 08:49am EDT 

June 2 (Reuters) - :Talks between RBS CEO Ross McEwan and RBoS shareholder action group ended on Friday without a deal- Sky News, citing sources.  Full Article

Claimants and RBS ask for further adjournment of 2008 rights issue trial
Wednesday, 24 May 2017 05:39am EDT 

May 24 (Reuters) - Royal Bank Of Scotland Group Plc :Both sides in rbs trial over 2008 rights issue ask for adjournment until june 7.Lawyer for claimants in rbs rights issue trial says remains hopeful of reaching settlement.Claimants' lawyer in rbs trial says will update court on thursday on progress of settlement talks.  Full Article

Investors seek another day for settlement talks in RBS lawsuit - claimant lawyer
Tuesday, 23 May 2017 05:40am EDT 

May 23 (Reuters) - Royal Bank Of Scotland Group Plc :U.K. investors seek another day for settlement talks in lawsuit against RBS - claimant lawyer.  Full Article

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Breakingviews - Britain’s RBS garage sale priced for messy Brexit

LONDON (Reuters Breakingviews) - The British government’s Royal Bank of Scotland sale looks priced for a messy Brexit. Chancellor Philip Hammond intends to raise 15 billion pounds to meet fiscal targets by selling the state’s holding in the UK lender. He could achieve that even if RBS shares tumble 30 percent, Breakingviews calculates.