Edition:
United Kingdom

Royal Bank of Scotland Group PLC (RBS.L)

RBS.L on London Stock Exchange

207.20GBp
1:50pm BST
Change (% chg)

2.70 (+1.32%)
Prev Close
204.50
Open
206.80
Day's High
210.20
Day's Low
204.70
Volume
4,680,099
Avg. Vol
13,778,634
52-wk High
274.20
52-wk Low
176.55

Latest Key Developments (Source: Significant Developments)

Royal Bank Of Scotland We Continue To See Large Corporates Delay Financing Reflecting Brexit Uncertainty
Friday, 2 Aug 2019 

Royal Bank of Scotland Group PLC ::IMPAIRMENT LOSS OF £323 MILLION INCREASED BY £182 MILLION COMPARED WITH H1 2018 PRIMARILY REFLECTING A SMALL NUMBER OF SINGLE NAME CHARGES IN COMMERCIAL BANKING.BANK NET INTEREST MARGIN (NIM) OF 2.02% WAS 5 BASIS POINTS LOWER THAN Q1 2019 PRIMARILY REFLECTING COMPETITIVE PRESSURES IN MORTGAGE BUSINESS.RBS SAYS VERY UNLIKELY THAT WE WILL ACHIEVE OUR TARGET RETURN ON TANGIBLE EQUITY OF MORE THAN 12% AND COST:INCOME RATIO OF LESS THAN 50% IN 2020.THESE REMAIN OUR STRATEGIC TARGETS AND WE BELIEVE THEY ARE ACHIEVABLE IN MEDIUM TERM.WE CONTINUE TO SEE LARGE CORPORATES DELAY FINANCING REFLECTING BREXIT UNCERTAINTY.  Full Article

Royal Bank Of Scotland Rents And Values In Retail Sub-Sector And Market Liquidity Have Declined Significantly.
Friday, 2 Aug 2019 

Royal Bank of Scotland Group PLC ::RENTS AND VALUES IN RETAIL SUB-SECTOR AND MARKET LIQUIDITY HAVE DECLINED SIGNIFICANTLY..LIQUIDITY HAS BEEN MARKEDLY REDUCED FOR HIGHER VALUE HOMES AND VALUES IN LONDON REDUCED SLIGHTLY FROM RECENT HIGHS.THERE WAS A MODEST INCREASE IN RATE OF DEFAULT OVER LAST SIX MONTHS IN PERSONAL BANKING.  Full Article

Royal Bank Of Scotland Pre-Tax Profits Of 1.994 Billion Stg Excluding Impact Of Alawwal Disposal
Friday, 2 Aug 2019 

Royal Bank of Scotland Group PLC ::ROYAL BANK OF SCOTLAND POSTS FIRST-HALF PRE-TAX PROFITS OF 2.694 BILLION STG.ROYAL BANK OF SCOTLAND PRE-TAX PROFITS OF 1.994 BILLION STG EXCLUDING IMPACT OF ALAWWAL DISPOSAL.ROYAL BANK OF SCOTLAND ATTRIBUTABLE PROFITS OF 2.038 BILLION STG.ROYAL BANK OF SCOTLAND ANNOUNCES INTERIM DIVIDEND OF 2 PENCE PER SHARE, SPECIAL DIVIDEND OF 12 PENCE.ROYAL BANK OF SCOTLAND DOES NOT MAKE FRESH PPI PROVISION.RBS GIVES NO UPDATE ON SEARCH FOR CEO SUCCESSOR.ROYAL BANK OF SCOTLAND CET1 OF 16.0% POST DIVIDEND.ROYAL BANK OF SCOTLAND NET INTEREST MARGIN OF 2.04%.ROYAL BANK OF SCOTLAND TOTAL OPERATING EXPENSES OF 4.100 BILLION STG.ROYAL BANK OF SCOTLAND COST TO INCOME RATIO OF 57.2%.RBS ROTE OF 12.1% FOR FIRST HALF.ROYAL BANK OF SCOTLAND SAYS IT IS UNLIKELY TO MEET GOAL OF 12%+ ROTE BY 2020, STILL MEDIUM TERM GOAL.  Full Article

UK's Unite Says RBS Closure Of Centre In Southampton Causes 200 Job Losses
Tuesday, 23 Jul 2019 

July 23 (Reuters) - UK'S UNITE::UK'S UNITE SAYS RBS CLOSURE OF CENTRE IN SOUTHAMPTON CAUSES 200 JOB LOSSES.THE CLOSURE OF RBS' BRUNSWICK GATE CUSTOMER CONTACT CENTRE WILL RESULT IN THE LOSS OF 227 BANK STAFF.  Full Article

Nicky Morgan Responds To FCA's Final Report On RBS' GRG
Thursday, 13 Jun 2019 

June 13 (Reuters) - UK'S TREASURY COMMITTEE::NICKY MORGAN RESPONDS TO FCA'S FINAL REPORT ON RBS' GRG.AS SAID IN SME FINANCE REPORT LAST YEAR, FCA SHOULD NOW BE GIVEN POWERS TO REGULATE COMMERCIAL LENDING TO ADEQUATELY PROTECT SMES.GOVERNMENT MUST RECONSIDER REJECTION OF PROPOSAL FOR INTRODUCTION OF FINANCIAL SERVICES TRIBUNAL FOR SMES TO SETTLE DISPUTES WITH BANK.  Full Article

RBS-Backed FinTech Loot Enters Administration - FT
Wednesday, 22 May 2019 

May 22 (Reuters) - :RBS-BACKED FINTECH LOOT ENTERS ADMINISTRATION - FT.  Full Article

Royal Bank Of Scotland Says RBSG, With NWM, Fined Total Of Eur 249.2 Mln
Thursday, 16 May 2019 

May 16 (Reuters) - Royal Bank of Scotland Group PLC ::ACKNOWLEDGMENT OF TWO SETTLEMENTS ON FX TRADING.RBSG, WITH NWM PLC, HAVE BEEN FINED A TOTAL OF EUR 249,214,000 RELATING TO CONDUCT WHICH TOOK PLACE BETWEEN 2007 AND 2011.2 SETTLEMENTS REACHED WITH RBSG, NWM, OTHERS ON EC'S INVESTIGATION OF HISTORIC COMPETITION LAW BREACHES CONCERNING FOREX TRADING.AGGREGATE FINE IS FULLY COVERED BY EXISTING PROVISIONS IN NWM PLC.TIMING AND AMOUNT OF FUTURE FINANCIAL PENALTIES, RELATED LITIGATION RISKS AND COLLATERAL CONSEQUENCES REMAIN UNCERTAIN AND MAY BE MATERIAL.  Full Article

UK's Unite Says RBS Could Face Raft Of Equal Pay Claims
Thursday, 9 May 2019 

May 9 (Reuters) - UK's Unite Union::RBS COULD FACE MANY EQUAL PAY CLAIMS AFTER UNION HELPED SECURE £150,000 PAY OUT IN EQUAL PAY CASE IN NATWEST MARKETS’ TECHNOLOGY UNIT.  Full Article

Royal Bank of Scotland Completes Pricing Of $1.25 Bln Of Senior Notes
Friday, 3 May 2019 

May 3 (Reuters) - Royal Bank of Scotland Group PLC ::RBSG PRICING OF US$1.25BN OF SENIOR NOTES.COMPLETED PRICING OF ITS USD 1.25 BILLION 4.445% FIXED RATE TO FLOATING RATE SENIOR NOTES DUE 2030.COMPLETED PRICING OF ITS USD 1.25 BILLION 4.445% FIXED RATE TO FLOATING RATE SENIOR NOTES DUE 2030.PROCEEDS TO RBSG OF USD 1.25 BILLION WILL BE USED TO FUND RBSG'S GENERAL BANKING BUSINESS.  Full Article

RBS Considering Internal And External Candidates For CEO Role
Thursday, 25 Apr 2019 

April 25 (Reuters) - Royal Bank of Scotland Group PLC ::AGM STATEMENT.WILL BE CONDUCTING AN INTERNAL AND EXTERNAL SEARCH FOR CEO ROSS'S SUCCESSOR, WHICH WILL COMMENCE IMMEDIATELY- CHAIRMAN.IN MEETING, SEEKING RENEWAL FOR 12 MONTHS OF AUTHORITY PROVIDED IN FEB TO USE SOME EXCESS CAPITAL TO BUY BACK UP TO 4.99% OF SHARES FROM GOVERNMENT.IN TOTAL, EXPECT TO HAVE AROUND 250 PEOPLE WORKING ACROSS EU IN NATWEST MARKETS NV, BETWEEN 100 AND 150 OF WHOM WILL BE IN AMSTERDAM.2018 COMMON EQUITY TIER ONE CAPITAL OF OVER 16 PERCENT.ROYAL BANK OF SCOTLAND, ON STATE OF ECONOMY, SAYS PROSPECT IS "MORE THAN USUALLY UNCERTAIN".DO NOT THINK IT WOULD BE IN INTERESTS OF CO TO CREATE A SHAREHOLDER COMMITTEE AND RECOMMEND SHAREHOLDERS REJECT THE RESOLUTION.LACK OF CLARITY ABOUT UK'S FUTURE RELATIONS WITH EU UNDOUBTEDLY HAVING IMPACT, WITH CONSUMER CONFIDENCE MUTED, BUSINESSES PAUSING ON INVESTMENT.ESTABLISHED A PROJECT TO INTEGRATE CLIMATE RISKS AND OPPORTUNITIES ACROSS BUSINESS AND RISK FRAMEWORKS - UNDER DIRECTION OF CHIEF RISK OFFICER.REITERATES BOARD'S SUPPORT FOR CURRENT STRATEGY.WILL NOT BE CLOSING ANY FURTHER BRANCHES IN 2019 AND HAVE NO PLANS TO REDUCE BRANCH NETWORK IN 2020.WILL START CONSULTING WITH SHAREHOLDERS LATER THIS YEAR AHEAD OF PUTTING A NEW PAY POLICY TO A VOTE AT NEXT YEAR'S AGM."DO NOT SEE DEMISE OF CASH IN UK, BUT WE DO SEE IT PLAYING A MUCH LESSER PART IN DAY TO DAY TRANSACTIONS".THIS YEAR, CO AIMS TO TAKE A FURTHER CIRCA £300 MILLION OUT OF OPERATING COST BASE.  Full Article

UPDATE 2-Brexit optimism breathes life into UK-focussed stocks

* Dollar earners weigh on main index (Adds news items, analyst comment, updates to closing price)