Tag: Royal Bank of Scotland

RBS stops some customers from using rival ATMs

RBS stops some customers from using rival ATMs

The Royal Bank of Scotland (RBS) has barred some of its customers from using rival cash machines because the bank incurs a charge each time. The decision will affect almost a million people with basic bank accounts who do not have access to an overdraft or a cheque book. With immediate effect, they will only [...]

August 17, 2011 | 1 Comment More
RBS H1 profits hit by Greek crisis and PPI costs

RBS H1 profits hit by Greek crisis and PPI costs

The Royal Bank of Scotland (RBS) has today unveiled a loss of £1.4 billion for the six months to the end of June. The bank, which is 84% owned by the taxpayer, said its exposure to the Greek debt crisis and costs relating to the mis-selling of Payment Protection Insurance (PPI) pushed it into a [...]

August 5, 2011 | 0 Comments More
RBS sued over US mortgage bonds

RBS sued over US mortgage bonds

Royal Bank of Scotland (RBS) is being sued by a division of the US Government for millions of dollars over failed US mortgage bonds - residential mortgage-backed securities (RMBS). Investors lost hundreds of billions of dollars when these types of investments went sour and resulted in the financial crisis in autumn 2008. RBS, which is [...]

June 21, 2011 | 0 Comments More
RBS offloads Spanish property portfolio

RBS offloads Spanish property portfolio

The Royal Bank of Scotland (RBS), which is 83% owned by the taxpayer, has today announced it has agreed to sell a portfolio of Spanish real estate loans and assets to Perella Weinberg Real Estate Fund I LP, in a deal worth £247 million (€286 million). RBS has been selling assets under the orders of [...]

March 23, 2011 | 0 Comments More
RBS discloses pay details for 323 key staff

RBS discloses pay details for 323 key staff

Royal Bank of Scotland (RBS), which is 83% owned by the taxpayer, has disclosed details of the amount of money it paid to its key staff in 2010. The bank said its 323 key staff were paid a total of £375 million last year - after already divulging its chief executive, Stephen Hester, received a [...]

March 18, 2011 | 0 Comments More
RBS chief exec in line for £7.7m pay package

RBS chief exec in line for £7.7m pay package

The Royal Bank of Scotland (RBS) has today revealed its chief executive, Stephen Hester, will receive an extra shares bonus worth up to £4.5 million - taking his total pay package to £7.7 million for 2010. The bank, which is 83% owned by the taxpayer, also unveiled bonus payments for several of its other executives. [...]

March 8, 2011 | 0 Comments More
RBS posts 2010 loss of £1.13bn

RBS posts 2010 loss of £1.13bn

Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has today reported a net attributable loss of £1.13 billion for the 2010 year. While the loss is down from the £3.6 billion reported for 2009, it was higher than analysts had expected. The results are also a significant improvement on the £24.1 [...]

February 24, 2011 | 0 Comments More
Lloyds to close equity markets division

Lloyds to close equity markets division

Lloyds Banking Group has announced it will close down its Equity Markets division - as part of its strategy to dispose of non-core assets. The division has around a dozen employees and the announcement comes shortly after the bank said 200 jobs would go at its insurance arm. Since the onset of the financial crisis, [...]

February 16, 2011 | 0 Comments More
RBS in talks to leave APS early

RBS in talks to leave APS early

There is speculation that the Royal Bank of Scotland (RBS) is in talks with the Treasury about its early exit from the Government’s Asset Protection Scheme (APS). The scheme, which insurers against losses arising from toxic assets, was established in 2009 to boost confidence in the system following the financial crisis in autumn 2008. It [...]

January 21, 2011 | 0 Comments More
RBS offloads Priory Group for £925m

RBS offloads Priory Group for £925m

The Royal Bank of Scotland (RBS), which is 83% owned by the taxpayer, has today announced it has agreed to sell the Priory Group - the care home and clinic renowned for treating celebrities. The bank has offloaded the business to private equity firm, Advent International, in a deal worth £925 million. RBS has been [...]

January 18, 2011 | 0 Comments More
FSA fines RBS and NatWest

FSA fines RBS and NatWest

The Royal Bank of Scotland (RBS) and its NatWest subsidiary have been fined by the Financial Services Authority (FSA) for “multiple failings”. The fine of £2.8 million was imposed because there was an “unacceptably high risk that customers may not have been treated fairly” due to not handling customers routine complaints in a proper manner. [...]

January 11, 2011 | 0 Comments More
Asset Protection Scheme did not boost lending, says NAO

Asset Protection Scheme did not boost lending, says NAO

The National Audit Office (NAO) has published a report on the Government’s Asset Protection Scheme (APS) and concluded that it failed in its aim of boosting bank lending. The scheme, which insurers against losses arising from toxic assets, also did not charge sufficient fees to the banks which participated. The scheme was established in 2009 [...]

December 21, 2010 | 0 Comments More
City Watchdog to publish RBS report

City Watchdog to publish RBS report

The Financial Services Authority (FSA) is set to publish a report on the near collapse of Royal Bank of Scotland (RBS) following an investigation into the bank. The report, to be published by the end of March, comes after the bank had to be bailed out at the height of the financial crisis in autumn [...]

December 16, 2010 | 1 Comment More
Bank chiefs oppose splitting up banks

Bank chiefs oppose splitting up banks

Outgoing Chief Executive of Lloyds Banking Group, Eric Daniels, has today said he is opposed to the proposal of splitting up Britain’s banks, arguing that it will not enhance competition within the sector. Meanwhile, chief executive of Royal Bank of Scotland (RBS), Stephen Hester, agreed and said breaking up banks won’t improve the outcome for [...]

December 7, 2010 | 0 Comments More
MUFG to buy RBS project assets

MUFG to buy RBS project assets

Mitsubishi UFJ Financial Group (MUFG), which is Japan’s largest bank by assets, is to buy project-finance assets from Royal Bank of Scotland (RBS) in a deal valued at £3.8 billion. The deal comes as RBS, which is 84% owned by the taxpayer, continues to dispose of legacy assets. Meanwhile, the deal will see MUFG strengthen [...]

November 15, 2010 | 0 Comments More
Post Offices to branch out by serving RBS and NatWest customers

Post Offices to branch out by serving RBS and NatWest customers

It has been revealed today that customers of Royal Bank of Scotland (RBS) and NatWest will be able to access their bank accounts through Britain’s 12,000 post offices. The announcement comes after Postal Affairs Minister, Edward Davey, recently said he was concerned that some banks do not allow customers at post offices to conduct transactions, [...]

November 9, 2010 | 0 Comments More
Royal Bank of Scotland dives back into the red

Royal Bank of Scotland dives back into the red

The Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, has today announced it has plummeted back into the red with a £1.4 billion ($2.3 billion) pre-tax loss during the third quarter. This compares with a loss of £1.8 billion in the same period a year earlier but also compares unfavourably with [...]

November 5, 2010 | 0 Comments More
RBS hires bonus dealmaker

RBS hires bonus dealmaker

The Royal Bank of Scotland (RBS), which is 84% owned by the taxpayer, is set to reignite its dispute over bonuses after hiring John McIntyre. Mr McIntyre, the former Lehman Brothers banker, is a renowned figure in the City after successfully suing his former employer, Dresdner Kleinwort, for a £2 million bonus. He will join [...]

November 1, 2010 | 0 Comments More
Santander hit by bad loan provisions

Santander hit by bad loan provisions

Spanish banking giant, Santander, has today reported a fall in third quarter profits, due to changes on bad loan provisions. The bank, which is the euro zone’s largest, said third quarter profits fell 13% to €2.1 billion (£1.8 billion) as provisions for bad loans hampered results. Before the changes to one-off provisions, which were put [...]

October 28, 2010 | 0 Comments More
RBS looking to sell Spanish commercial property portfolio

RBS looking to sell Spanish commercial property portfolio

The Royal Bank of Scotland (RBS), which is 83% owned by the taxpayer, is understood to be looking at selling a £1 billion Spanish property loan portfolio, as it looks to offload unwanted assets. The speculation comes as the bank has been selling assets under the orders of the European Commission, as a punishment of [...]

October 18, 2010 | 1 Comment More