Exclusive: RBS is big loser of seven-day switching while Santander wins customers July 22, 2014 RBS is losing the battle for banking customers, City A.M. can reveal, shedding 171,400 customers through the seven-day switching system and gaining just 95,000 current account customers. Overall, RBS and NatWest have lost a net 76,200 through the system since it was launched last September, according to City A.M. calculations based on figures from survey firm [...]
UK banks RBS and Lloyds could be broken up in competition probe July 17, 2014 A major new competition probe could result in the further break-up of leading high street banks, analysts warned yesterday, with RBS and Lloyds most vulnerable to the demands of regulators. The Competition and Markets Authority (CMA) today unveils the results of its study of the small business banking market and the current accounts sector. [...]
McEwan’s turnaround plan wins backing of RBS shareholders June 25, 2014 INVESTORS overwhelmingly backed RBS chief Ross McEwan’s plans at his first annual general meeting at the top yesterday. More than 99 per cent backed the remuneration report, the remuneration policy and the re-election of McEwan to the board. Other banks had seen substantial rebellions this year, making RBS stand out for the high degree of [...]
RBS cuts branch managers in London in latest efficiency drive June 18, 2014 NATWEST has cut more than 200 branch managers across England, Wales and London in a bid to drive costs. The RBS brand previously had five grades of branch manager and has reorganised them into just two grades – those who run big branches and those in charge of smaller sites. It is cutting 361 positions, then [...]
RBS faces new questions on small business June 17, 2014 TROUBLED bank RBS is facing fresh scrutiny over its treatment of small businesses, after contradictory evidence emerged yesterday on whether or not it made a profit from working with struggling firms. The bank had been accused of making money out of distressed businesses, with some firms accusing the bank of forcing them to go bust [...]
RBS looks to sell stake in troubled Ulster Bank wing June 16, 2014 RBS MOVED closer to selling a chunk of Ulster Bank over the weekend, as part of its long-term plan to limit the damage caused by the troubled business unit. Chief executive Ross McEwan has previously said he is looking at a range of options for the lender. One of those could be to seek a [...]
RBS share price “going down, going down, going down” says analyst June 12, 2014 Despite a 16 per cent rise in the share price of state-backed bank RBS over the past six weeks, one analyst is less than confident that the performance will be sustained. Investec's Ian Gordon writes that "the share price (once again) reflects a triumph of hope over reality and should duly correct". Investec has downgraded [...]
Now RBS caps UK mortgages June 3, 2014 RBS yesterday joined Lloyds in cutting back mortgage lending for the most expensive houses, in the latest sign that banks are worried that the market could overheat. The move came as Nationwide reported house prices are at a record high, while ex-City watchdog boss Lord Turner said he is worried about the towering pile of [...]
RBS to cut 400 staff at US arm May 27, 2014 RBS PLANS to cut two-thirds of its mortgage trading staff in its US investment banking arm over the next 18 months as it cuts down its non-UK retail banking operations, the bank has confirmed. Around 400 staff will get the chop, though workers trading in rates, currencies, and credit will be unaffected. The bank also [...]
RBS mobile banking hit by IT flaw May 23, 2014 Some of Britain's biggest banks have been suffering from an IT fault that affected mobile banking customers across the country. Both RBS and Natwest encountered problems with their mobile banking services, with the trouble starting around 8:30am and continuing through till 2pm. Speaking to Sky News, a spokesman for RBS Group said: We are aware [...]