RBS - The Royal Bank of Scotland Group plc

NYSE - Nasdaq Real Time Price. Currency in USD
2.9200
+0.1400 (+5.04%)
As of 10:21AM EDT. Market open.
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Previous close2.7800
Open2.8600
Bid2.9000 x 21500
Ask2.9100 x 21500
Day's range2.8600 - 2.9300
52-week range2.4500 - 7.0500
Volume482,710
Avg. volume3,152,057
Market cap17.389B
Beta (5Y monthly)1.48
PE ratio (TTM)17.59
EPS (TTM)0.1660
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date26 Mar 2020
1y target estN/A
  • U.S. judge orders 15 banks to face big investors' currency rigging lawsuit
    Reuters

    U.S. judge orders 15 banks to face big investors' currency rigging lawsuit

    A U.S. judge on Thursday said institutional investors, including BlackRock Inc <BLK.N> and Allianz SE's <ALVG.DE> Pacific Investment Management Co, can pursue much of their lawsuit accusing 15 major banks of rigging prices in the $6.6 trillion-a-day foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan said the nearly 1,300 plaintiffs, including many mutual funds and exchange-traded funds, plausibly alleged that the banks conspired to rig currency benchmarks from 2003 to 2013 and profit at their expense. "This is an injury of the type the antitrust laws were intended to prevent," Schofield wrote in a 40-page decision.

  • 'Significant majority' of RBS staff home-workers to remain in place until September - memo
    Reuters

    'Significant majority' of RBS staff home-workers to remain in place until September - memo

    Royal Bank of Scotland <RBS.L> Chief Executive Alison Rose said on Thursday a "significant majority" of more than 50,000 staff working from home since the coronavirus lockdown would continue to do so until September, according to a memo seen by Reuters. RBS has also temporarily banned hot-desking and said it would place at least one empty desk in between people to ensure social distancing. Since lockdown started, around 10,000 staff have continued to work in branches and some offices.

  • 'Significant majority' of RBS staff home-workers to remain in place until Sept - memo
    Reuters

    'Significant majority' of RBS staff home-workers to remain in place until Sept - memo

    Royal Bank of Scotland Chief Executive Alison Rose said on Thursday a "significant majority" of more than 50,000 staff working from home since the coronavirus lockdown would continue to do so until September, according to a memo seen by Reuters. RBS has also temporarily banned hot-desking and said it would place at least one empty desk in between people to ensure social distancing. Since lockdown started, around 10,000 staff have continued to work in branches and some offices.

  • British backing gives some RBS investors comfort in crisis
    Reuters

    British backing gives some RBS investors comfort in crisis

    Best known as Britain's biggest financial crisis failure, some investors and analysts view majority state-owned Royal Bank of Scotland as the lender likely to emerge strongest from the coronavirus downturn. RBS had built the largest capital surplus of any major British bank before the pandemic struck, some 14 billion pounds ($17 billion) above the regulatory minimum, and had hoped to use much of this to buy back the government's 62% stake. Now investors are betting this capital cushion, which will help it absorb loan losses resulting from the economic crunch, will help RBS gain greater market share and potentially restore a dividend ahead of rivals.

  • Royal Bank of Scotland (RBS) Q1 Earnings Fall Y/Y, Costs Down
    Zacks

    Royal Bank of Scotland (RBS) Q1 Earnings Fall Y/Y, Costs Down

    Royal Bank of Scotland's (RBS) first-quarter results reflect lower interest income and expenses.

  • Reuters

    BoE's Woods says banks have enough lending capacity in pandemic

    Banks should have more than enough freed-up capital to back the volume of loans anticipated to help companies bridge the coronavirus pandemic, Bank of England Deputy Governor Sam Woods said on Monday. The BoE has allowed banks to tap a reserve of capital known as the counter cyclical capital buffer to support loans up to 190 billion pounds. Royal Bank of Scotland Chairman Howard Davies told the webinar that banks needed more reassurance from regulators on the amount of time they would get to rebuild capital buffers once the pandemic has passed.

  • ROYAL BANK OF SCOTLAND GROUP (RBS) Q1 2020 Earnings Call Transcript
    Motley Fool

    ROYAL BANK OF SCOTLAND GROUP (RBS) Q1 2020 Earnings Call Transcript

    RBS earnings call for the period ending March 31, 2020.

  • RBS profit slashed by virus provisions
    Reuters Videos

    RBS profit slashed by virus provisions

    RBS is the latest big bank to see earnings slashed by the global virus crisis. On Friday (May 1) the UK lender said profits all but halved in the first quarter. They sank to about 650 million dollars. That as the bank set aside a billion dollars to cover an expected surge in bad loans. For all that, it still beat forecasts. RBS was helped by a 9% rise in income at its investment bank, NatWest. That flowed from the frenzied trading caused by market volatility. The division is still set to be scaled back though, after persistent losses. RBS will also scrap digital bank Bo. It has attracted just 11,000 customers following a launch in November. Britain’s four biggest lenders - RBS, Barclays, HSBC and Lloyds - have now set aside over 8 billion dollars to cover loan defaults. They’ve also committed to deliver over 400 billion dollars in taxpayer-backed loans for struggling companies. RBS perhaps feels the most pressure, as it's majority taxpayer-owned. That after it was bailed out by the state during the 2008 global financial crisis. Friday’s numbers saw its shares up around 5% by mid afternoon.

  • Bó, the digital bank developed by RBS-owned Natwest, is to shutter
    TechCrunch

    Bó, the digital bank developed by RBS-owned Natwest, is to shutter

    One more recent plan being considered was to reposition Bó as a banking app for teens, a segment thought to be underserved even amongst digital-first providers. Instead, the bank plans to focus on Mettle, its small business banking challenger brand, which, I understand, had already begun to assimilate Bó after the two respective teams were moved into the same building. “The circumstances have changed,” RBS CEO Alison Rose told Yahoo Finance.

  • RBS scraps Bó as profit halved by $1 billion coronavirus provision
    Reuters

    RBS scraps Bó as profit halved by $1 billion coronavirus provision

    Royal Bank of Scotland's profit halved in the first quarter as it set aside 802 million pounds ($1 billion) to cover an expected spike in bad loans due to the coronavirus pandemic, the state-backed lender said on Friday. Despite the slide in profits, the bank's results beat analyst expectations in part thanks to a 9% rise in income from a spike in trading in volatile markets at its previously loss-making investment bank NatWest Markets. RBS Chief Executive Alison Rose said the bank was nonetheless still committed to cutting back the division and also said it would wind down digital bank Bó after it attracted just 11,000 customers since its launch in November.

  • RBS scraps Bó as profit halved by £802 million coronavirus provision
    Reuters

    RBS scraps Bó as profit halved by £802 million coronavirus provision

    Royal Bank of Scotland's <RBS.L> profit halved in the first quarter as it set aside 802 million pounds to cover an expected spike in bad loans due to the coronavirus pandemic, the state-backed lender said on Friday. Despite the slide in profits, the bank's results beat analyst expectations in part thanks to a 9% rise in income from a spike in trading in volatile markets at its previously loss-making investment bank NatWest Markets. RBS Chief Executive Alison Rose said the bank was nonetheless still committed to cutting back the division and also said it would wind down digital bank Bó after it attracted just 11,000 customers since its launch in November.

  • Reuters

    Banks must eliminate coronavirus refund confusion, consumer champion says

    One of Britain's largest consumer interest groups has called on banks to adopt a consistent approach to managing claims from customers who have failed to secure refunds from travel firms and other businesses after coronavirus cancellations. The chargeback process - offered by most card providers - reverses a transaction if a customer is unable to resolve a dispute with a business for a variety of reasons. Customers making refund claims under Section 75 of the Consumer Credit Act 1974, a legal protection for credit card users on purchases of between 100 pounds ($125) and 30,000 pounds, were also being told that applications would be handled case by case, Which?

  • Bó, the digital bank developed by RBS, is losing its chief product officer to company builder Antler
    TechCrunch

    Bó, the digital bank developed by RBS, is losing its chief product officer to company builder Antler

    More departures are taking place at Bó, the digital bank developed by RBS-owned Natwest. Following the departure of Bó CEO Mark Bailie in January, the latest to seek a new opportunity is chief product officer Ollie Purdue, TechCrunch has learned. According to sources, Purdue is joining Antler, the company builder and early-stage venture capital firm that operates in Amsterdam, London, New York, Stockholm, Sydney, Nairobi and Singapore.

  • NatWest presses ahead with more job cuts in face of coronavirus crisis
    Reuters

    NatWest presses ahead with more job cuts in face of coronavirus crisis

    British state-backed lender NatWest <RBS.L> is pressing ahead with further job cuts, axing more than 30 jobs in its digital ventures arm despite rivals halting redundancies during the coronavirus crisis. NatWest is separately pressing ahead with cutting around 130 jobs in its loss-making investment banking unit NatWest Markets. Rivals including Barclays <BARC.L> and Standard Chartered <STAN.L> have paused redundancies during the virus outbreak.

  • Reuters

    PRESS DIGEST- British Business - April 9

    The following are the top stories on the business pages of British newspapers. - Britain's biggest retailer Tesco has defended its decision to hand investors a total £900 million ($1.11 billion)in dividends despite taking £585 million ($724.64 million) from the government's business rates relief holiday. - Sir Stelios Haji-Ioannou, founder and the largest shareholder in Easyjet, has stepped his attack on the board of the airline by saying that he will "personally sue those scoundrels" if they go ahead with a multibillion-pound order to acquire more than a 100 new aircraft from Airbus.

  • British bank bosses take pay cuts amid coronavirus fallout
    Reuters

    British bank bosses take pay cuts amid coronavirus fallout

    Top executives at British lenders HSBC, Standard Chartered and NatWest said on Wednesday they would take salary cuts after pressure on bankers to show solidarity with customers struggling to make ends meet during the coronavirus crisis. All the executive directors at Britain's biggest domestic lender Lloyds, including chief executive Antonio Horta-Osorio, have also agreed to waive their bonuses for 2020, a source familiar with the matter told Reuters. HSBC said its CEO Noel Quinn and CFO Ewen Stevenson would donate 25% of their salary for the next 6 months to charity and forego their cash bonuses, totalling 1.4 million pounds and 800,000 pounds respectively.

  • RBS presses on with NatWest Markets cuts, axing 130 jobs - FT
    Reuters

    RBS presses on with NatWest Markets cuts, axing 130 jobs - FT

    Royal Bank of Scotland <RBS.L> has cut around 130 jobs in its investment banking division NatWest Markets, the Financial Times reported on Wednesday. The state-backed lender has paused much of its cost-cutting and restructuring initiatives to deal with the fallout from the coronavirus pandemic, but has decided to press ahead with cuts to its loss-making NWM unit. "Where restructurings proceed, we will seek to mitigate impacts for employees and customers, which will include delaying exits and continuing to pay employees, in certain cases, until 30 September 2020," a spokeswoman for NWM said.

  • Royal Bank of Scotland Trims London Securitized Credit Team
    Zacks

    Royal Bank of Scotland Trims London Securitized Credit Team

    Royal Bank of Scotland (RBS) continues to restructure operations amid several lingering concerns related to the coronavirus outbreak.

  • Reuters

    Britain says Basel bank rule delay will aid response to coronavirus

    Delaying remaining elements of new global bank capital rules for a year will give lenders in Britain time to focus on dealing with fallout from the coronavirus epidemic, the Bank of England and Britain's finance ministry said on Thursday. "This will provide operational capacity for banks and supervisors to respond to the immediate financial stability priorities from the impact of Covid-19," the BoE's Prudential Regulation Authority (PRA) and finance ministry said in a joint statement. The PRA and finance ministry said they were committed to the full, timely and consistent implementation of the new rules and "we will work together towards a UK implementation timetable that is consistent with the one year delay".

  • Reuters

    New accounting rule for virus-hit banks faces first big test

    An accounting rule introduced after the global financial crisis faces its first big test as banks seek relief in the face of government calls to keep coronavirus-hit borrowers afloat. Known as IFRS9, it is mandatory in over 100 countries, including the European Union and Britain, but not in the United States, where there is a tougher version with full upfront provisioning for expected losses. "Obviously IFRS 9 is an issue for us and all banks in terms of how we recognise any provision," Alison Rose, chief executive of the Royal Bank of Scotland, said on Tuesday.

  • Reuters

    RPT-UK banks press for scrapping stress tests in face of coronavirus - sources

    Britain's banks have asked the Bank of England to scrap this year's stress test of lenders and to soften rules to help them cushion expected losses as the coronavirus pandemic hits their staff and customers, banking sources said on Friday. "It would be stupid to run a stress test during a stress," a senior banker told Reuters. The central bank's Financial Policy Committee, which monitors risks in the financial system, typically agrees scenarios for the annual test of banks' resilience at its first quarter meeting and publishes them on March 24.

  • Reuters

    UK banks press for scrapping stress tests in face of coronavirus - sources

    Britain's banks have asked the Bank of England to scrap this year's stress test of lenders and to soften rules to help them cushion expected losses as the coronavirus pandemic hits their staff and customers, banking sources said on Friday. "It would be stupid to run a stress test during a stress," a senior banker told Reuters. The central bank's Financial Policy Committee, which monitors risks in the financial system, typically agrees scenarios for the annual test of banks' resilience at its first quarter meeting and publishes them on March 24.

  • Reuters

    Britain plans to apply Basel bank capital rules in full

    Britain said on Wednesday it plans to fully implement globally-agreed bank capital rules that were a response to the financial crisis a decade ago. Tougher Basel capital rules were devised by global financial regulators to prevent a repeat of the 2008 crisis when taxpayers had to bail out undercapitalised banks. Much of the package has been implemented but some remaining elements will come into force over the next few years and European banks have been lobbying to water some of them down.

  • UK taxpayers forecast to make £32.1 billion loss on RBS privatisation
    Reuters

    UK taxpayers forecast to make £32.1 billion loss on RBS privatisation

    British taxpayers are forecast to make a 32.1 billion pound loss on the long-delayed privatisation of state-backed lender Royal Bank of Scotland <RBS.L>, according to an updated official forecast on Wednesday. The loss estimate – published by the Office for Budget Responsibility alongside the first budget from Boris Johnson's government – has increased from a previous forecast of 31 billion pounds made in March last year. The government has offloaded RBS stock twice before, but has not sold any shares since June 2018 amid market turmoil exacerbated by Brexit uncertainty and more recently fears over the economic impact of the coronavirus outbreak.

  • Reuters

    Britain's banks review annual shareholder gatherings amid virus outbreak

    Britain's banks are reviewing how they could fulfil legal obligations to hold an annual meeting for their shareholders if the government follows other nations in restricting large gatherings to contain the spread of coronavirus. Royal Bank of Scotland, which is due to hold its annual general meeting (AGM) on April 29 in Edinburgh, said it still planned to hold the gathering, but was looking at how it could use technology to allow shareholders to participate remotely. HSBC said it was pressing ahead with plans for an AGM on April 24 in London but that if the government changed its stance on large public gatherings, shareholders could be restricted from travelling or attending.