- Bloomberg•5 days ago
Royal Bank of Scotland Group Plc has told about 3,000 of its global transaction-services clients to speed up their search for another bank.
- Reuters•7 days ago
At an English country mansion last month, lawyers for Royal Bank of Scotland (RBS) (RBS.L) sat down with representatives of angry shareholders to broker an end to what may end up being the costliest case in British legal history.The meeting at The Grove, an 18-century estate near London that served as the secret World War Two HQ for Britain's biggest railway company, was convened to persuade investors to drop claims they were misled into stumping up 12 billion pounds ($16 billion) just a few months before the bank's bailout in 2008. Once a small Scottish retail bank, RBS staged a meteoric rise to global prominence over two decades with an aggressive expansion that threatened to topple the UK financial system. By early 2008, bad bets on toxic mortgage debt, increased loan defaults and a highly leveraged takeover spree had left RBS's balance sheet in desperate need of capital, and management turned to investors for the ill-fated cash call.More than 35,000 shareholders who took part, including some of Britain's biggest institutional investors and public pension funds, allege RBS deliberately concealed the extent of its financial woes when it raised the money in April 2008.
The Royal Bank of Scotland Group plc (RBS)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||5.21 x 42500|
|Ask||5.22 x 75900|
|Day's Range||5.14 - 5.24|
|52wk Range||3.91 - 10.28|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||-6.02|
|Avg Vol (3m)||3,887,871|
|Dividend & Yield||0.00 (0.00%)|