RBS chief Hester ‘considered quitting’ February 8, 2012 Royal Bank of Scotland chief executive Stephen Hester has revealed that he considered quitting during the furore over his bonus. Hester told the BBC that he was “not a robot” and said there had been some “deeply depressing” moments. However, the chief executive said it would have been “indulgent” of him to resign. Hester turned [...]
CPP future still at risk as banks withdraw backing February 26, 2012 TROUBLED credit card insurer CPP faces the loss of its banking facilities unless it can reassure lenders that its business is secure. Barclays, Santander and Royal Bank of Scotland (RBS) are considering whether to withdraw financial backing from the York-based firm when the existing arrangement ends next year. The firm currently has borrowings of around [...]
CPP future still at risk as banks withdraw backing February 26, 2012 TROUBLED credit card insurer CPP faces the loss of its banking facilities unless it can reassure lenders that its business is secure. Barclays, Santander and Royal Bank of Scotland (RBS) are considering whether to withdraw financial backing from the York-based firm when the existing arrangement ends next year. The firm currently has borrowings of around [...]
Banks line up for more cheap cash as ECB offers new loans February 26, 2012 BANKS are set to line up for more easy money on Wednesday when the European Central Bank offers an unlimited volume of cheap loans for the second time in as many months. Lloyds Banking Group and Royal Bank of Scotland have both said they are attracted by the so-called three-year Long-Term Refinancing Operation (LTRO) because [...]
Banks in rate swap dispute with SMEs March 11, 2012 BRITAIN’S top banks face claims of mis-selling from hundreds of small businesses that bought complex interest rate derivatives before the start of the financial crisis. Barclays and HSBC, as well as taxpayer-backed Lloyds and Royal Bank of Scotland, all face allegations that they pushed small- and medium-sized enterprises (SMEs) to take out interest rate swap [...]
Banks buoyed by Abu Dhabi move for RBS stake March 27, 2012 Banks fuelled FTSE 100 gains this morning after the sector was lifted by reports that Abu Dhabi was considering making a bid for RBS assets. Talks between Abu Dhabi and the British government over a stake in state-owned Royal Bank of Scotland are at the level of the Abu Dhabi ruling family, a source close [...]
Helical Bar to keep spending February 14, 2012 HELICAL BAR, the listed property developer, said it has made acquisitions totalling £90m since 30 September 2011 against a backdrop of “severely constrained” lending. Helica said acquisitions and new lettings had helped boost its rental income, net of irrecoverable property costs, from £20m to £25.8ma year. It also disposed of non-income producing properties, totalling £40m [...]
Banks miss SME lending targets February 13, 2012 Britain’s top banks fell short of their government targets to lend to small businesses last year, Bank of England data showed on Monday, dealing a blow to the Conservative-led coalition’s hopes to get credit flowing through the economy to boost growth. However, banks exceeded their target for lending to all businesses, making a total of [...]
RBS to shed 80 jobs on Australian trading desk February 28, 2012 Royal Bank of Scotland is closing its Australian fixed income, commodity and currency (FICC) trading desk and moving some of the 80 affected employees and trading to desks in Singapore and London as the bank shrinks to cut its losses. RBS, 82 percent owned by the British government following a bailout in 2008, has already [...]
RBS considers Jurys Inn debt-for-equity swap February 20, 2012 THE ROYAL Bank of Scotland is considering taking a stake in Jurys Inn as part of a debt-for-equity swap in which lenders to the hotelier will write down as much as £250m of borrowings. The taxpayer-owned bank, together with other lenders Allied Irish Banks (AIB) and Irish Banking Resolution Corporation (IBRC), are considering three plans [...]