Edition:
United Kingdom

Royal Bank of Scotland Group PLC (RBS.L)

RBS.L on London Stock Exchange

294.40GBp
23 May 2018
Change (% chg)

-1.60 (-0.54%)
Prev Close
296.00
Open
295.70
Day's High
296.20
Day's Low
292.50
Volume
20,791,872
Avg. Vol
14,537,123
52-wk High
304.20
52-wk Low
239.60

Latest Key Developments (Source: Significant Developments)

RBS Says Hearing For Approval Of Ring-Fencing Scheme Expected On July 31
Tuesday, 15 May 2018 

May 15 (Reuters) - Royal Bank of Scotland Group PLC ::UPDATE ON RING-FENCING PLANS.FIRST HEARING WAS HELD AT COURT ON TUESDAY AND A HEARING FOR APPROVAL OF SCHEME IS EXPECTED TO BE HELD ON 31 JULY 2018.RBS - IF SCHEME IS APPROVED AT HEARING, EXPECTED EFFECTIVE DATE TO BE AUG 13 OR LATER DATE WHICH NATWEST BANK, NATWEST MARKETS MAY AGREE WITH PRA, FCA.  Full Article

Responding to question on departure, RBS CEO says he has plan for bank until 2020
Friday, 11 May 2018 

May 11 (Reuters) - Royal Bank of Scotland Group PLC ::RBS CEO MCEWAN SAYS MORE BRANCHES CLOSURES POSSIBLE IN ENGLAND AND WALES - LBC RADIO.RBS CEO MCEWAN SAYS HE HAS PLAN FOR BANK UNTIL 2020 IN RESPONSE TO QUESTION ON HIS DEPARTURE - LBC RADIO.  Full Article

RBS CEO says British Government has expressed no view on its branch closures
Tuesday, 8 May 2018 

May 8 (Reuters) - Royal Bank of Scotland Group PLC ::RBS CEO SAYS BRITISH GOVERNMENT HAS EXPRESSED NO VIEW ON ITS BRANCH CLOSURES.  Full Article

Royal Bank Of Scotland Says Ring-Fencing Transfer Scheme Effective
Monday, 30 Apr 2018 

April 30 (Reuters) - Royal Bank of Scotland Group PLC ::RING-FENCING TRANSFER SCHEME EFFECTIVE.PROPOSED RING-FENCING TRANSFER SCHEME UNDER PART VII OF FINANCIAL SERVICES AND MARKETS ACT 2000 SANCTIONED BY COURT OF SESSION IN SCOTLAND.IN JULY 2018, RBS GROUP PLANS TO RESTRUCTURE NATWEST MARKETS PLC CAPITAL STRUCTURE VIA A COURT APPROVED CAPITAL REDUCTION..IN MAY 2018, RBS GROUP INTENDS TO COMMENCE, IN COURT OF SESSION IN SCOTLAND, A SECOND RFTS TO TRANSFER CERTAIN CUSTOMER DERIVATIVES FROM NATWEST BANK TO NATWEST MARKETS PLC.  Full Article

Royal Bank Of Scotland net interest margin stable at 2.04 pct
Friday, 27 Apr 2018 

April 27 (Reuters) - Royal Bank of Scotland Group PLC ::NET INTEREST MARGIN (NIM) WAS STABLE AT 2.04% COMPARED WITH Q4 2017.OPERATING COSTS DECREASED BY £442 MILLION.RWAS INCREASED BY £1.8 BILLION COMPARED WITH Q4 2017.EXCLUDING IMPACT OF MODEL UPLIFTS WITHIN COMMERCIAL BANKING, RWAS REDUCED BY £2.5 BILLION..IMPAIRMENT LOSSES IN Q1 OF 78 MILLION STG.  Full Article

RBS Announces Changes To Boards In Connection With Ring-Fencing Transfer Scheme
Friday, 27 Apr 2018 

April 27 (Reuters) - Royal Bank of Scotland Group PLC ::ANNOUNCES CHANGES TO COMPOSITION OF BOARDS OF DIRECTORS IN CONNECTION WITH RING-FENCING TRANSFER SCHEME.RBS PLC TO BE RENAMED "NATWEST MARKETS PLC", ADAM TO BE RENAMED " ROYAL BANK OF SCOTLAND PLC", ASSUME BANKNOTE-ISSUING RESPONSIBILITY.NATWEST HOLDINGS TO HAVE DIRECT OWNERSHIP OF ROYAL BANK OF SCOTLAND PLC, NATIONAL WESTMINSTER BANK PLC, ULSTER BANK IRELAND DAC.WITH EXCEPTION OF FRANK DANGEARD, ALL DIRECTORS OF ROYAL BANK OF SCOTLAND GROUP PLC WILL CONTINUE TO BE DIRECTORS OF RING- FENCED BANK ENTITIES..PATRICK FLYNN WILL BE APPOINTED TO BOARDS OF RING-FENCED BANK ENTITIES WITH EFFECT FROM 1 JUNE 2018..YASMIN JETHA TO STEP DOWN FROM BOARD OF RBSG WITH EFFECT FROM APRIL 30 APRIL, TO HOLD POSITION OF NON-EXECUTIVE DIRECTOR ON BOARDS OF RING-FENCED BANK ENTITIES.FRANK DANGEARD WILL ASSUME ROLE OF CHAIRMAN OF NWM.FRANCESCA BARNES, GRAHAM BEALE,IAN CORMACK WILL BE APPOINTED TO BOARDS OF RING-FENCED BANK ENTITIES AS NON-EXECUTIVE DIRECTORS WITH EFFECT FROM MAY 1.FOR NWM, WITH EXCEPTION OF FRANK DANGEARD, BRENDAN NELSON, ALL EXISTING DIRECTORS OF ROYAL BANK OF SCOTLAND PLC WILL STEP DOWN.CHRIS MARKS (CEO) AND RICHARD PLACE (CFO) WILL BE APPOINTED AS EXECUTIVE DIRECTORS ON BOARD OF NWM..VIVEK AHUJA AND SARAH WILKINSON WILL BE APPOINTED AS NON-EXECUTIVE DIRECTORS ON BOARD OF NWM..  Full Article

Royal Bank Of Scotland Names Patrick Flynn As Non-Executive Director
Friday, 27 Apr 2018 

April 27 (Reuters) - Royal Bank of Scotland Group PLC ::PATRICK FLYNN WILL BE APPOINTED AS A NON-EXECUTIVE DIRECTOR OF RBSG.FLYNN WILL ALSO SERVE AS A MEMBER OF GROUP AUDIT COMMITTEE.FLYNN ALSO SERVE AS A MEMBER OF GROUP AUDIT COMMITTEE.  Full Article

Royal Bank Of Scotland Group Q1 attributable profit 792 mln stg
Friday, 27 Apr 2018 

April 27 (Reuters) - Royal Bank of Scotland Group PLC ::ROYAL BANK OF SCOTLAND GROUP Q1 PROFIT BEFORE TAX 1.213 BILLION STG.ROYAL BANK OF SCOTLAND GROUP Q1 CET1 16.4 PERCENT.ROYAL BANK OF SCOTLAND GROUP Q1 CONDUCT AND LITIGATION CHARGES OF 19 MILLION STG.ROYAL BANK OF SCOTLAND GROUP Q1 RESTRUCTURING COSTS OF 209 MILLION STG, DOWN FROM 509 MILLION IN Q1 2017.ROYAL BANK OF SCOTLAND GROUP Q1 RETURN ON TANGIBLE EQUITY 9.3 PERCENT.ROYAL BANK OF SCOTLAND GROUP SAYS NO UPDATE ON RESOLUTION OF TALKS WITH U.S. DEPARTMENT OF JUSTICE OVER RMBS MIS-SELLING.ROYAL BANK OF SCOTLAND GROUP Q1 COST TO INCOME RATIO OF 60.5 PERCENT.ROYAL BANK OF SCOTLAND GROUP Q1 ATTRIBUTABLE PROFIT 792 MILLION STG.  Full Article

Metro Bank Says Q1 Deposit Growth Of 1.03 Bln STG, Up 41 Pct
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Metro Bank PLC ::1ST QUARTER RESULTS.Q1 DEPOSIT GROWTH OF £1,033M, UP 41% YEAR-ON-YEAR TO £12.7B.NET DEPOSIT GROWTH PER STORE PER MONTH OF £6.3M ($8.8M) IN Q1 2018 VERSUS £5.9M ($8.3M) IN Q4 2017.Q1 LENDING GROWTH OF £1,354M, UP 69% YEAR-ON-YEAR TO £11.0B.Q1 DEPOSIT GROWTH OF £1,033M, UP 41% YEAR-ON-YEAR TO £12.7B.Q1 UNDERLYING PROFIT BEFORE TAX 1 AT £10.0M ($14.0M), UP 21% FROM £8.3M ($11.6M) IN Q4 2017.88,000 INCREASE IN CUSTOMER ACCOUNTS IN Q1 TO 1,305,000.INCREASE IN LOAN TO DEPOSIT RATIO TO 86%. ASSET QUALITY REMAINS STRONG; COST OF RISK AT 0.09% IN Q1."IN LONDON AND SOUTH EAST - WHICH ACCOUNTS FOR 34% OF UK'S SME MARKET - WE ARE SEEING THOUSANDS OF BUSINESSES SWITCH TO US"- CEO.WE CONTINUE TO ASSESS APPROPRIATE CAPITAL TO FUND OUR GROWTH AND ANTICIPATE A TIER 2 DEBT ISSUANCE IN 2018.OUR BID FOR RBS ALTERNATIVE REMEDIES PACKAGE APPLICATION IS PROGRESSING.COMMON EQUITY TIER 1 CAPITAL AS A PERCENTAGE OF RISK WEIGHTED ASSETS IS 13.6% IN Q1.  Full Article

Royal Bank of Scotland Says Signs MoU With Pension Trustee On Ring-Fencing Alignment
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Royal Bank of Scotland Group PLC ::MOU WITH PENSION TRUSTEE ON RING-FENCING ALIGNMENT.ENTERED INTO A MEMORANDUM OF UNDERSTANDING WITH TRUSTEE OF MAIN SCHEME OF RBS GROUP PENSION FUND.MOU ALSO PROVIDES CLARITY ON ADDITIONAL RELATED FUNDING CONTRIBUTIONS THAT WILL BE REQUIRED TO BE MADE BY RBS GROUP TO MAIN SCHEME.MOU FACILITATES CHANGES TO MAIN SCHEME TO ALIGN EMPLOYING ENTITY STRUCTURE WITH REQUIREMENTS OF UK RING-FENCING LEGISLATION.UNDER THE SCHEME, A PRE-TAX PAYMENT OF £2 BILLION THAT WILL BE MADE IN SECOND HALF OF 2018.UNDER THE SCHEME AS AT DEC 2017, PROFORMA CET1 IMPACT OF PRE-TAX £2 BILLION CONTRIBUTION IS -80 BASIS POINTS AFTER-TAX.UNDER SCHEME FROM JAN 1, 2020, FURTHER PRE-TAX CONTRIBUTIONS OF UP TO £1.5 BILLION IN AGGREGATE LINKED TO MAKING OF FUTURE DISTRIBUTIONS TO RBS SHAREHOLDERS.  Full Article

UPDATE 2-British lender Paragon flags subdued mortgage market despite higher H1 profit

May 24 Britain's Paragon Banking Group cautioned on Thursday that the domestic mortgage market remains subdued, even as a surge in lending volumes helped the lender post a 4.7 percent rise in profit for the first half of the year.