|Bid||250.00 x 654700|
|Ask||270.00 x 41000|
|Day's Range||251.10 - 258.60|
|52 Week Range||239.60 - 304.20|
|PE Ratio (TTM)||24.08|
|Earnings Date||Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||304.29|
Jun.05 -- The British government sold a 2.5 billion pound ($3.3 billion) stake in Royal Bank of Scotland Group Plc, reducing its majority holding a decade after it bailed out the lender during the financial crisis. Ed Robinson reports on Bloomberg Markets: European Open."
Mid-sized bank CYBG has agreed to buy Virgin Money in a 1.7 billion pound ($2.3 billion) all-share deal that it said will create Britain's sixth-largest bank by assets and a stronger challenger to the country's top four lenders. Britain's biggest bank merger since the financial crisis was clinched by this month's sweetened bid from CYBG and will give Virgin Money shareholders, which include entrepreneur Richard Branson, about 38 percent of the combined group.
Britain's markets watchdog said it expected to complete its enforcement investigation into alleged mistreatment by Royal Bank of Scotland (RBS.L) of small business customers by the end of next month. Lawmakers and small businesses have criticised the Financial Conduct Authority (FCA) for not bringing its investigation to a speedier conclusion and publishing the findings. "My expectation is that we will finish the investigative part before the end of July," FCA Chief Executive Andrew Bailey told parliament.
Britain's major banks will have to meet targets for recovering from cyber attacks and other disruptions to key services, a senior Bank of England official said on Wednesday. Lyndon Nelson, deputy chief executive of the BoE's Prudential Regulation Authority arm, said banks needed to be resilient to cyber attacks, or IT disruptions like those at British bank TSB, where customers were unable to access their accounts because of computer problems.
Britain's major banks will be set targets for recovering from cyber attacks and other disruptions to key services, a senior Bank of England official said on Wednesday. Lyndon Nelson, Deputy Chief Executive of the BoE's Prudential Regulation Authority arm, said banks need to be resilient to cyber attacks, or IT disruptions like those at TSB bank in recent weeks.
, one of Silicon Valley’s top venture capital firms, pumped $100m into a largely unknown software start-up six years ago, it looked like a symptom of a tech bubble in the making, writes Richard Waters. , more than 10 times what it was deemed to be worth when Andreessen became involved.
Bank stocks such as RBS are hard to value. This is because the rules banks face are different to other companies, which can impact the way we forecast their cashRead More...
Royal Bank of Scotland (RBS.L) Chief Executive Ross McEwan said on Thursday the bank wants to buy back some of its own shares from the government, if approved by the regulator and if it did not jeopardise the bank's return to dividend payments. Britain's government, which acquired a stake in RBS when it bailed the bank out for 45.5 billion pounds ($61.10 billion)in the financial crisis, restarted the privatisation of the bank earlier this week, selling 7.7 percent of its holdings. "Yes we do want to participate, I think we've got plenty of capital," McEwan said, speaking at a conference in Frankfurt, adding that his first priority would be restoring the bank's dividends.
It should be easy to reserve a proportion for those smaller shareholders wishing to participate in the placing. The RBS share price was trading in the 290p to 295p range before the leak of the impending sale, which conveniently manipulated the share price down, resulting in a group of institutional shareholders being able to buy 925 million shares at a discount of 20p to the previous price, ie £180m.
Pre-market today, WallStEquities.com assesses four Foreign Money Center Banks stocks, namely, Banco Santander S.A. (NYSE: SAN), Lloyds Banking Group PLC (NYSE: LYG), The Royal Bank of Scotland Group PLC (NYSE: RBS), and UBS Group AG (NYSE: UBS). As per Investopedia, investing in money center banks normally means investing in stocks from a bank that does not deal with the individual customer.
U.K. clears Comcast’s bid for SkyRBS shares suffered Tuesday. U.K. blue-chip stocks dropped by the most in a week Tuesday, hurt by a climb in the pound and by falling shares of Royal Bank of Scotland PLC after the U.K. government reduced its stake in the lender at a loss. The FTSE 100 index (^FTSE) lost 0.7% to close at 7,786.80, led by declines in the utility and financial sectors.
Royal Bank of Scotland weighed on Britain's FTSE 100 on Tuesday after the government took a loss selling a stake in the bank, while a rising pound after strong services data piled extra pressure on the internationally-exposed index. Shares in RBS fell 5.1 percent after the government sold 7.7 percent of the lender for 2.5 billion pounds, realizing a loss of $2.66 billion.
The Chancellor of the Exchequer said on Tuesday that the sale of a 7.7 percent stake in RBS (RBS.L) was an important step forwards after a financial crisis which led to a government bailout of the bank in 2008. "This sale represents a significant step in returning RBS to full private ownership and putting the financial crisis behind us," Philip Hammond said in a statement.
Britain has sold some of its holding in Royal Bank of Scotland (RBS.L), the bank which it rescued in the 2008 financial crisis, but has taken a loss of more than 2 billion pounds on the deal. "This sale represents a significant step in returning RBS to full private ownership and putting the financial crisis behind us," Britain's Chancellor of the Exchequer Philip Hammond said. Once one of the largest banks in the world by assets, RBS's near collapse required Britain's biggest bailout, leaving the government still holding a large stake nearly a decade later.
Getting together could be the easy bit for mid-sized CYBG and Virgin Money, with breaking the grip of Britain's big four banks an altogether tougher challenge. The pair are having "positive discussions" about forming Britain's biggest challenger bank, with double the assets of its closest rival among Britain's smaller lenders. CYBG, which owns Clydesdale and Yorkshire and app-based "B", would be the main bank for around just two percent of high street customers if it merges with Virgin, data from RFi Group shows, compared with around 24 percent for market leader Lloyds Banking Group.
A buoyant European tech sector, which hit a 17-year peak on Tuesday, was not enough to lift the broader European market as jitters over politics in the periphery persisted. "All big names from Apple to Amazon and Microsoft are able to make huge buybacks and acquisitions and the internal growth of most of these companies is pretty much in line with expectations," Prime Partners equity analyst Jerome Schupp.
With the sale of British government's 7.7% stake in Royal Bank of Scotland (RBS), the bank's shares witnessed a decline of nearly 2% in pre-market trading on NYSE.
Before the financial crisis, the Royal Bank of Scotland was once the world’s largest bank, measured by assets. Today, it’s not even close to the biggest bank in the UK. In 2008 and 2009, after the global financial crisis brought RBS close to the brink of collapse, the British government spent £45.5 billion ($60.9 billion)…
Britain's top banks like HSBC (HSBA.L) and Barclays (BARC.L) will have to show investors how they can be shut without causing mayhem in markets, the Bank of England said on Tuesday. Since a financial crisis that forced taxpayers to bail out lenders, banks have had to comply with rules that make it easier for regulators to wind them up in an orderly way, such as by keeping critical functions like payments going and transferring accounts to another lender. BoE Deputy Governor for Financial Stability Jon Cunliffe said on Tuesday he wants to inject transparency into resolution planning so that markets have more confidence in the process.
LONDON (AP) — The British government sold a 7.7 percent stake in Royal Bank of Scotland on Tuesday, taking a tentative step toward returning the bank to private ownership almost a decade after it was bailed out at the height of the financial crisis.
Britain has sold some of its holding in Royal Bank of Scotland (RBS.L), the bank which it rescued in the 2008 financial crisis, but has taken a loss of more than 2 billion pounds ($2.68 billion) on the deal. "This sale represents a significant step in returning RBS to full private ownership and putting the financial crisis behind us," Britain's Finance Minister Philip Hammond said. Once one of the largest banks in the world by assets, RBS's near collapse required Britain's biggest bailout, leaving the government still holding a large stake nearly a decade later.
The British government sold a 2.5 billion pound ($3.3 billion) stake in Royal Bank of Scotland Group Plc, reducing its majority holding a decade after it bailed out the lender during the financial crisis. ...
The U.K. Government Investments Ltd, which controls the British government’s 70% stake in RBS, placed 925 million shares at 271 pence each with institutional investors and sold the stake for £2.51 billion ($3.34 billion). The British government has previously said it aims to shed around £3 billion of RBS shares by March 2019. The British government has come to terms with the fact that it will never get the money back that was injected into RBS to stave off its collapse.