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Breakingviews: RBS gains buffer

Friday, 25 Jul, 2014 - 03:45

Investors welcomed RBS’ lower bad debts. The progress brings capital targets closer and makes forthcoming litigation costs more bearable, says Breakingviews.

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I -- gain -- much needed -- -- means that's according to breaking views and look at trying to dominate and it just amendment let's listen to this corporate video of Ross mcewing. The results to -- sure had a good this -- can base I think is very good for people but also that our customers and the confidence of the Utah -- to the bank that they are 90% of this -- to a marriage is a good thank you can that can register we've got a lot of work to do in this business and I cannot and nor can any of that stuff get complacent. About two quarters -- pretty good results. Dominique we just -- from that makes you in the same the bank cannot be complacent. Is dissent saying -- is that sad breaking news is taking today. I think we're looking ahead to what may come down the roads and it's clear from what liberals -- -- -- -- -- Moral conduct investigation issues that might -- BS alphabet ebitda. Coming -- isn't he prefers that really things like the foreign exchange scandal that. Regulates is still probing too. But the US mortgage related securities that and other banks have settled for the obvious is still to do so and also to things like PPI. Back home and also interest rate. -- now we know who that I'm in that. Most recent cold so that they in fact you know BS's reported utterly. That they put aside a hundred million before interest rate hedging on in the -- 150 million. Four. Four PPI say they all still provisioning for these. These eventualities. The good news today for shall lose today is that. Actually LBS has to know better than expected and their there a couple of planks that in particular it's instinct focus on hand one means. All BS is bad bank and that call subpoena not -- that. If you like than they were expecting said they now think. That going to save effectively. About a billions what they had projected is they can have a billion to one and a half billion less of cultists. That -- side of impairment charges for loans and been a lot better than analysts were expect it's again they're getting now for the for the rest yet -- -- be about one billion as opposed to two -- -- if you are based again that's about. To get into two and a half billion. I don't know a little bit extra because they've done. -- along the capital from the ministry -- that risk weighted assets whose kids in the capital based. And you get told outsource some whacked around by surprise about three billion of pounds in. In value and guess what shares have jumped by about not much -- -- -- and -- market has responded by saying well this is why August is -- and. I'm decent -- show should be. In -- to dot now we think may be that could be a little bit at a time given Harrison bad news likely to be coming down the right. I'm sure this isn't a -- old continent as you might ECB could be some bad news closely. Any endings that we saw today we're not getting all of the. I didn't have any nasty surprises next week. But I think it's very clear the message and you have -- -- from. Rules -- care and -- that they're trying to get across is that. There will be some bad news to come over the next half -- the yes I don't gets to comfortable right now. You know you might have to just. Be a little bit more wary about what might via. Coming down the track. Thank you very much -- and that's what -- IV as savage as of course soaring. 14%. Today -- -- -- and you release of its Manning's I'm punching a long and this is Joyce's.

Breakingviews: RBS gains buffer

Friday, 25 Jul, 2014 - 03:45

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