US officials hand down multi-billion forex-rigging fine to UBS, JPMorgan, RBS, Citicorp and Barclays May 20, 2015 US officials have confirmed the multi-billion-dollar bill being paid by five of the world's biggest banks for their involvement in the forex-rigging scandal. JPMorgan Chase, Royal Bank of Scotland, Citicorp and Barclays will plead guilty to US criminal charges, paying a total of $5.6bn to settle the allegations that date back to 2007. UBS is [...]
RBS share price rise cuts losses as George Osborne considers bank sale May 10, 2015 George Osborne is considering selling some RBS shares this year even if the taxpayer makes a loss, as he runs out of patience with the bailed-out bank. The chancellor is understood to be weighing up the options for the future of the state-backed lender over the next two weeks. He has been buoyed by the [...]
RBS in the red as mega-fines for PPI mis-selling and forex-rigging wipe out profit April 30, 2015 RBS could be on-track to pay a dividend if its turnaround continues, its chief executive said yesterday, as the bank’s underlying profitability improved in the first quarter of 2015. But it made another loss, this time of £446m, as it struggles through its restructuring, and set aside another £856m to cover legal costs and [...]
RBS is failing to win over its customers around the UK April 30, 2015 RBS's share price fell this morning after revealing it had earmarked a further £446m for anticipated forex costs. But that's not the only problem facing the bank. It's really struggling to shake off its image and is failing to win customers around pretty much across the board. The bank has set itself the [...]
RBS makes quarterly loss of £446m after more cash earmarked for forex scandal costs April 30, 2015 RBS has slumped to a quarterly loss after it joined Barclays in earmarking more cash to stave off potential payments over the forex scandal. The Figures For the three months to the end of March, RBS posted a loss of £446m, a big swing from the £1.2bn profit it made in the same quarter last [...]
RBS spin-off Williams & Glyn loses chief executive John Maltby ahead of IPO April 28, 2015 Williams & Glyn, the challenger bank being carved out from RBS as a condition of the latter's bailout during the financial crisis, has lost its chief executive before it has even launched. John Maltby will be replaced by Jim Brown, currently chief executive of Ulster Bank. Maltby will take up his former role [...]
Bank holiday cancelled: RBS branches stay open on Monday April 27, 2015 Bank holidays could soon be a relic of a bygone age of short opening hours and inconvenient service, as RBS plans to open dozens of branches this Monday. As internet and mobile banking have taken off, branch use has plummeted, prompting banks to try to make access to their expensive high street sites more convenient. [...]
UK’s big four banks face £19bn more in conduct fines April 27, 2015 Legal and compensation payouts are set to cost the big four UK banks another £19bn over 2015 and 2016, analysts at credit ratings agency Standard and Poor’s said yesterday. Mounting bills come on top of the £42bn the four have already paid out over the past five years. The next nine largest lenders paid a further £6bn [...]
RBS sells $5.6bn North American loan portfolio to Mizuho Bank April 27, 2015 The Royal Bank of Scotland (RBS) will sell a $5.6bn (£3.7bn) portfolio of loan commitments to Mizuho Bank, it said today – its second deal with the Japanese lender in three months. Around two-thirds of RBS' North American corporate loan portfolio has now been disposed of as the shrinking bank looks to exit many of [...]
RBS sees better-than-expected price for its Aldgate office block March 31, 2015 Bids for one of the Royal Bank of Scotland’s office buildings in Aldgate have entered a second round, with the taxpayer-owned lender set to gain a better-than-expected payout. The bank appointed advisory firm DTZ at the end of last year to sell Aldgate Union on Whitechapel High Street, with a guide price of around £85m. [...]