|Bid||260.00 x 654700|
|Ask||300.00 x 41000|
|Day's Range||292.50 - 296.20|
|52 Week Range||239.60 - 304.20|
|PE Ratio (TTM)||27.51|
|Earnings Date||Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||292.83|
Nationwide Building Society (POB_p.L), one of Britain's three biggest mortgage providers, is planning to push into the business banking market after annual profit fell 7 percent amid intense competition in the market for home loans. Nationwide said it has applied for a 50 million pound grant as part of a 775 million pound package of funding that rival Royal Bank of Scotland (RBS.L) is being compelled to disburse to boost competition in the market. If its application is successful, Nationwide said it would launch a business current account to compete in a market dominated by Britain's five biggest banks with 85 percent of business accounts between them.
Stock Research Monitor: LYG, RBS, and UBS LONDON, UK / ACCESSWIRE / May 18, 2018 / If you want a free Stock Review on SAN sign up now at www.wallstequities.com/registration . Today's attention is redirected ...
Banco Santander SA has its eyes on some of Royal Bank of Scotland Group Plc’s businesses again. The British unit of Spain’s biggest bank plans to apply for a slice of the 775 million pounds ($1 billion) of funds that RBS agreed to make available to stimulate competition in the U.K. small-business lending market. The European Union accepted an RBS proposal to make the funds available after the bank failed to sell its Williams & Glyn unit.
Lawyers for Royal Bank of Scotland asked an ex-employee to destroy confidential documents, according to a letter seen by Reuters, in a move which the former staffer's lawyer said put him at risk of legal action by the U.S. government. The letter, dated Jan. 18 and signed by Herbert Smith Freehills, a British law firm acting for the bank, asked Victor Hong to "permanently destroy any confidential materials in his possession" obtained via litigation disclosures or during his employment in breach of his separation agreement with the bank. Hong resigned from RBS in Nov. 2007, less than two months after joining as a managing director for risk management and head of fixed-income independent price verification at the bank's U.S. division, Greenwich Capital.
Lawyers for Royal Bank of Scotland (RBS.L) asked an ex-employee to destroy confidential documents, according to a letter seen by Reuters, in a move which the former staffer's lawyer said put him at risk of legal action by the U.S. government. The letter, dated Jan. 18 and signed by Herbert Smith Freehills, a British law firm acting for the bank, asked Victor Hong to "permanently destroy any confidential materials in his possession" obtained via litigation disclosures or during his employment in breach of his separation agreement with the bank. Hong resigned from RBS in Nov. 2007, less than two months after joining as a managing director for risk management and head of fixed-income independent price verification at the bank's U.S. division, Greenwich Capital.
A merger of two Saudi banks, announced on Wednesday, will free Royal Bank of Scotland (RBS.L) of 4.9 billion pounds in assets it has been trying to shed for years and boost its core capital, a source familiar with the matter said. RBS has been trying to reduce its stake in Saudi Arabia's Alawwal Bank as part of efforts to shrink its balance sheet following its state bailout during the 2008 financial crisis. The 18.6 billion riyal (3.7 billion pound) deal between Alawwal and larger rival Saudi British Bank (SABB) will reduce RBS's stake in the merged group to around 5 percent, compared to a stake of around 15 percent in Alawwal, the source said.
HSBC Holdings Plc’s Saudi Arabia unit offered to pay a 29 percent premium to acquire Royal Bank of Scotland Group Plc’s local venture in a $5 billion stock deal. Bloomberg's Matthew Martin reports on "Bloomberg ...
Saudi British Bank (SABB) and Alawwal Bank have agreed a merger to create Saudi Arabia's third-biggest lender, in a $5 billion deal that marks the first major banking tie-up in the kingdom in two decades. The agreement, announced by the two banks on Wednesday but still non-binding, would create a lender with assets of around $77 billion, and is seen strengthening the banking system as Saudi Arabia embarks on a plan to transform its economy and cut its dependence on oil revenues. SABB is 40 percent owned by HSBC Holdings and Alawwal is 40 percent owned by RBS Holdings NV, a consortium that includes Royal Bank of Scotland (RBS), which has been trying to reduce its stake for some time.
May 16 (Reuters) - SAUDI BRITISH BANK: * ANNOUNCES LATEST DEVELOPMENTS IN RELATION TO ITS PROPOSED MERGER WITH ALAWWAL BANK * CONFIRMS THAT DISCUSSIONS IN RELATION TO POSSIBLE MERGER ARE AT AN ADVANCED ...
HSBC Holdings Plc and Royal Bank of Scotland Group Plc’s banking affiliates in Saudi Arabia reached an initial agreement on the terms of a possible merger. Alawwal Bank, which is 40 percent owned by RBS, and Saudi British Bank reached a preliminary, non-binding agreement on the share exchange ratio, according to a statement on the Saudi stock exchange on Wednesday. The deal would mark Saudi Arabia’s first bank merger for almost 20 years and will create an entity with about $73 billion in assets.
HSBC Holdings Plc is set to reaffirm its position in Saudi Arabia with the takeover of Royal Bank of Scotland Group Plc’s local venture as lenders bet on the kingdom’s ambitious plans to transform its economy. In the country’s first bank merger in almost 20 years, HSBC affiliate Saudi British Bank offered to take over RBS-backed Alawwal Bank in a $5 billion stock deal. The deal would make SABB the country’s third-biggest lender.
May 16 (Reuters) - ALAWWAL BANK: * ANNOUNCES THE LATEST DEVELOPMENTS IN RELATION TO PROPOSED MERGER WITH THE SAUDI BRITISH BANK (SABB) * CONFIRMS THAT DISCUSSIONS IN RELATION TO POSSIBLE MERGER WITH SAUDI ...
Royal Bank of Scotland Group Plc may overtake Deutsche Bank AG as the European lender with the highest disclosed legal bills since the financial crisis. RBS, which once ran one of the world’s largest securities firms, is set to pay a fine for misconduct by its investment bank. Its role in peddling mortgage-backed bonds that fueled the U.S. housing meltdown could cost RBS $4.9 billion, according to the terms of a tentative deal it reached with the U.S. Justice Department last week.
LONDON—Royal Bank of Scotland Group PLC has agreed to pay $4.9 billion to settle with the Justice Department over the sale of toxic mortgage-backed securities in the lead-up to the global financial crisis, clearing the path for the bank’s privatization. The U.K. government controlled bank said Wednesday it reached a civil settlement “in principle” with the Justice Department to end the long-running probe into the matter. The deal is at the low-end of what analysts had expected RBS to pay.
Royal Bank of Scotland (RBS.L) chief executive Ross McEwan said he has a plan until 2020 and wants to see the bank returned to private hands, dismissing speculation he could leave in the near future after resolving its last big misconduct issue. Media reports suggested a search for McEwan's successor had intensified after RBS agreed a long-awaited $4.9 billion settlement with U.S. authorities on Thursday, clearing the way for re-privatisation and dividend payments. After more than five years as CEO of RBS, which is now far nearer to normality after a 45.5 billion pound state bailout in 2008, the 60-year-old regularly faces questions about his departure.
Royal Bank of Scotland chief executive Ross McEwan said he has a plan until 2020 and wants to see the bank returned to private hands, dismissing speculation he could leave in the near future after resolving its last big misconduct issue. Media reports suggested a search for McEwan's successor had intensified after RBS agreed a long-awaited $4.9 billion settlement with U.S. authorities on Thursday, clearing the way for re-privatisation and dividend payments. After more than five years as CEO of RBS, which is now far nearer to normality after a 45.5 billion pound ($62 billion) state bailout in 2008, the 60-year-old regularly faces questions about his departure.
WASHINGTON/BOSTON/LONDON (Reuters) - Royal Bank of Scotland (RBS.L) has agreed to pay a smaller-than-expected $4.9 billion (3.63 billion pounds) to resolve a U.S. investigation into its sale of mortgage-backed securities, paving the way for a long-awaited return of cash to UK taxpayers who bankrolled its post-crisis survival. RBS said that $3.46 billion of the proposed civil settlement would be covered by existing provisions and that the bank would take a $1.44 billion charge in the second quarter to cover the rest. Analysts had estimated the U.S. Department of Justice could impose a fine of up to $12 billion on RBS for mis-selling mortgage-backed securities in the run-up to the 2007-2008 financial crisis.
If HSBC Holdings Plc, UBS Group AG and Wells Fargo & Co. were concerned that the Trump administration might continue the big-ticket bank penalties of the Obama era, there are mounting signs that they need not be. Royal Bank of Scotland Group Plc says it has reached a tentative deal with the Justice Department to pay $4.9 billion to resolve an investigation into its sale of toxic mortgage-backed securities a decade ago. The Justice Department, without citing a figure, confirmed a pact was near.
European shares pulled lower on Thursday, weighed down by losses in BT following a disappointing update and weakness among utilities stocks, while political jitters hit Italian stocks. The banking sector (.SX7P) was a bright spot, however, with gains in RBS (RBS.L) following a multi-billion dollar deal to settle a U.S. investigation of the bank's bond sales, and a solid update from Italy's biggest bank UniCredit (CRDI.MI) helping limit losses on the pan-European STOXX 600 (.STOXX), which ended just 0.1 percent lower. RBS rallied 3.8 percent after it agreed to pay a smaller-than-expected $4.9 billion to resolve a U.S. investigation into its sale of mortgage-backed securities.
European stocks broke a four-day winning run on Thursday, with Italian shares dragging the benchmark index lower as euroskeptic parties moved closer to form a coalition government. The Stoxx Europe 600 index (^STOXX) fell 0.1% to 391.97, after closing at its highest level since Feb. 1 on Wednesday. The yield on 10-year Italian government bonds (XTUP:TMBMKIT-10Y=X) rose 6 basis points to 1.934%, according to Tradeweb.
The UK's top share index hit a fresh 3-1/2 month high on Thursday after a decision by the Bank of England to keep rates on hold pushed sterling lower, while shares in Royal Bank of Scotland (RBS.L) surged after it settled a probe in the United States. The FTSE index closed 0.5 percent higher at 7,700.97 points, outperforming a slightly negative European market. Sterling dropped after the Bank of England held interest rates steady as expected, but trimmed some losses after Governor Mark Carney told the BBC that he expected a rate rise over the course of the next year if there are no shocks to the economy.
Blue-chip stocks in the U.K. moved higher Thursday, extending gains as the pound slumped after the Bank of England cut its outlook for British inflation and economic growth. Royal Bank of Scotland PLC shares were climbing as the lender settled a U.S. legal complaint over risky loans. The FTSE 100 index (^FTSE) rose 0.5% to end at 7,700.97, scoring its highest close since Jan. 23, according to FactSet data.
Royal Bank of Scotland will set up a process to consider appeals for alleged "consequential" losses suffered by businesses in its Global Restructuring Group (GRG), potentially opening the bank up to large claims for lost profits. The bank spelled out the change to the appeal process for companies allegedly harmed by its GRG unit in a letter to British junior finance minister John Glen seen by Reuters on Thursday.
Royal Bank of Scotland Group PLC has agreed to pay $4.9 billion in a settlement with the U.S. Department of Justice over its role in the misselling of toxic mortgage-backed securities in the run-up to the financial crisis. In a statement out on Thursday, RBS (RBS.L) (RBS) said it has reached a civil settlement in principle with the U.S. to resolve a long-running investigation inked to its issuance and underwriting of U.S. residential mortgage-backed securities between 2005 and 2007. The proposed settlement is subject to the DOJ and RBS entering into a legally binding agreement.