|Bid||5.36 x 40700|
|Ask||5.37 x 27000|
|Day's Range||5.34 - 5.41|
|52 Week Range||4.33 - 7.31|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||32.29|
|Forward Dividend & Yield||0.10 (1.63%)|
|Ex-Dividend Date||Aug 14, 2019|
|1y Target Est||N/A|
The main charge against it in its 30-year history between its birth as the merger of National Provincial Bank with Westminster Bank and its acquisition by Royal Bank of Scotland was of cautious conservatism, as is proved by the fact that its Moody’s long-term debt rating was Aa2 when it was swallowed by its smaller but suddenly more aggressive Scottish rival — a rating no UK bank matches today. It offered its customers free banking through the UK’s largest network of branches and ATMs, while being at the then forefront of automation including the innovation of telephone banking. Its merchant bank subsidiary, County NatWest, was homegrown rather than splashily purchased after the 1986 “Big Bang”, and Jonny Cameron, the only RBS director who was fined and banned by the Financial Conduct Authority following the RBS bailout, was well controlled when he started his career there in the 1980s.
LONDON/HONG KONG, Feb 18 (Reuters) - HSBC's management ranks face uncertainty over jobs and pay in the lender's most radical overhaul in years, as it seeks to slash nearly $5 billion in costs and prune its underperforming investment bank. The lender said on Tuesday it had cut its bonus pool for 2019 by 4% to reflect poor performance and warned its investment bank will take a hefty proportion of the around 35,000 job cuts it expects over the next three years - many at its headquarters in London's Canary Wharf financial centre. "There will be meaningful job cuts in the UK," Chief Financial Officer Ewen Stevenson said, adding they would be largely in the investment bank and senior management ranks based in the bank's London HQ.
(Bloomberg Opinion) -- Defying the gloom around the financial services industry in post-Brexit Britain, the U.K. has maintained its edge in fostering the industry's digital revolution. Lured by friendly regulators, fintechs have proliferated and investors have poured billions into companies that have rattled centuries old, high-street lenders. The battleground is becoming so fierce, however, that it’s proving too much for some of the upstarts.Blaming the U.K.’s decision to pull out of the European Union, Berlin-based N26 GmbH says it will close all of its U.K. accounts by April, affecting several hundred thousand customers. Elsewhere, it says its global ambitions are unaffected. The mobile banking app, which has a $3.5 billion valuation, will keep chasing growth in the U.S., where it has a partnership with another digital bank, and in the EU, where it has more than 5 million customers in 17 countries.The additional regulatory burden associated with Brexit will have certainly played a role in N26’s own exit. The lender, backed by billionaire Peter Thiel and China’s Tencent Holdings Ltd., would have needed a U.K. banking license once “passporting rights” (which allow finance companies to work seamlessly between the EU and Britain) lapse. That will have accelerated a decision on whether to commit to the U.K. market, whose complexity and cost N26 underestimated when it launched there 18 months ago.However, N26’s departure, which follows that of another German mobile lender, Fidor Bank, says more about the competitiveness in the U.K. than the fear of Brexit red tape. Even for a company that famously dissed profitability as a long-term goal, being an also-ran in a cutthroat market had limited appeal.The latecomer has faced intense rivalry from fintechs and big banking incumbents alike, with most offering cheap international services and better data on spending. Lacking a clearly distinctive product, the lender has found itself up against more entrenched rivals, from Monzo (which boasts 3.9 million U.K. accounts) to Revolut (with 3 million British customers) to Starling Bank (1.5 million accounts).Meanwhile, funds are pouring into fintech startups. Investment in the U.K. sector surged 45% to $2.9 billion in the first half of 2019 compared with the same period in 2018, according to data compiled by Bloomberg Intelligence. Revolut is reportedly in talks to raise $1.5 billion, while Starling has just raised another 60 million pounds ($78 million). Monzo is reportedly seeking up to another 100 million pounds. The big U.K. lenders have also been plowing cash into their own apps to be more like the fintechs, and adding entirely new ones. Royal Bank of Scotland Plc reportedly spent 100 million pounds to launch digital lender Bo last year. Bo will be a success, according to RBS, if it makes a profit even while remaining a secondary account for clients — that’s a challenge most of the fintechs are still trying to overcome. In June, Monzo said just 30% of its active users deposit at least 1,000 pounds, a threshold that it says denotes customers paying their salaries into its accounts.For N26, Brexit offered a neat way to explain its retreat. But without a certain path to profitability, competition from old and new players will keep the pressure on digital banks in the U.K. and beyond. To contact the author of this story: Elisa Martinuzzi at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elisa Martinuzzi is a Bloomberg Opinion columnist covering finance. She is a former managing editor for European finance at Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Popping the question is Exane BNP Paribas, which follows the market’s choice not to panic about a headline jump in China’s coronavirus cases due to a change in diagnostics methodology. Firstly, till yesterday’s release, the incremental increase in confirmed cases was heading lower.
Royal Bank of Scotland said Friday that it intends to rename itself as NatWest Group and reduce the size of its investment-banking business, as it reported an increased profit for the fourth quarter of 2019.
The Royal Bank of Scotland Group PLC said Friday that it would end financing for coal by 2030 and place stricter rules on oil-and-gas majors, joining other banks that have made similar sustainability moves as investors and the public demand action on climate change.
Royal Bank of Scotland's new Chief Executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest. Rose, who replaced former CEO Ross McEwan in November to become the first woman to lead one of Britain's major banks, is hoping a rebrand will help rehabilitate the lender's image after years of scandals following a 45 billion pound taxpayer rescue during the 2008 financial crisis. Although the RBS brand will live on in Scotland, the bank will stop using the 293-year-old name at group level and adopt the NatWest brand that grew out of National Westminster Bank, which RBS bought in 2000 and which consistently polls as more popular in customer satisfaction surveys in Britain.
China's announcement of more than 5,000 new coronavirus cases and 121 new deaths indicate the epidemic hasn't peaked yet. A pan-European index is in fact opening at record highs, buoyed by … answers on a postcard. The thinking appears to be the virus impact will not last, it’s not spreading outside China as fast as feared and above all, central banks can step in -- slower growth will bring more stimulus, or at least lower interest rates for longer.
Royal Bank of Scotland is getting a makeover, well, sort of. The UK’s largest business bank is renaming itself (drumroll please) NatWest! Beady-eyed readers will be aware that NatWest is already a subsidiary of RBS — in fact its biggest unit — and has been part of the Edinburgh-based bank since the turn of the century.
Royal Bank of Scotland will drop its 300-year-old company name and rebrand as NatWest as its chief executive prepares a sweeping overhaul for a new era of less profitable but more sustainable banking. The lender on Friday unveiled a plan to slash the size of its investment bank and halve the carbon emissions linked to its loan book as it cut long-term profitability targets. As part of the strategic shift, the bank will stop using the RBS name at group level in favour of the less scandal-tainted NatWest brand, though Royal Bank of Scotland will still be used in its Scottish branch network.
Switching its name to NatWest brings Royal Bank of Scotland full circle. Two decades ago NatWest was a toxic name with a horrid history — fraud, botched expansion and spendthrift ways. It over-reached by taking a tilt at insurer Legal & General — recall, this was an era when bancassurance was as big a buzzword as insurtech is today — and RBS pounced.
Royal Bank of Scotland’s rivals are failing to capitalise on an opportunity to poach some of its business customers, with the latest figures showing that only one in 10 account holders eligible for incentives to switch bank have done so. RBS is required to offload at least 120,000 out of a pool of 220,000 customers by August, as a condition of its government bailout more than a decade ago. is aimed at reducing RBS’s dominance in the business banking sector.
Royal Bank of Scotland is beefing up its investment banking operations in Poland as part of an effort to cut costs, but will stop short of exiting one of its big business lines. New chief executive Alison ...
LCI (LCII) delivered earnings and revenue surprises of 3.64% and 1.00%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Sealed Air (SEE) delivered earnings and revenue surprises of 5.41% and 0.10%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?