City watchdog taken to court over failure to act in Royal Bank of Scotland GRG scandal December 5, 2018 A Scottish businessman is taking City watchdog the Financial Conduct Authority (FCA) to court over its role in the investigation into the Royal Bank of Scotland’s restructuring unit. According to court documents, frequent RBS critic Neil Mitchell has filed an application for a judicial review of the FCA’s decision not to sanction anyone from RBS’s [...]
RBS and Nordea dropped from the list of the world’s most important banks November 16, 2018 The Royal Bank of Scotland (RBS) and Nordic bank Nordea have been removed from a list of the world's most important banks by the Financial Stability Board (FSB). The FSB's list is a compilation of all banks required to hold extra capital equivalent to at least one per cent of its risk-weight assets, due to their size and impact [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]
RBS share price drops as it disappoints investors on key profitability metric October 26, 2018 Profits are up 10 per cent year-on-year at Royal Bank of Scotland (RBS), it said in its third quarter results today, though shares dipped as it missed a key target and set money aside to handle PPI claims. The figures The bank reported pre-tax profits of £961m for the quarter, up 10 per cent from [...]
Brexit: 23 answers to investors’ questions October 16, 2018 | City Talk The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]
Royal Bank of Scotland introduces 1.5 per cent savings rate days after Goldman Sachs October 11, 2018 Royal Bank of Scotland (RBS) today announced a new savings rate of 1.5 per cent just weeks after Goldman Sachs entered the British market. The instant access savings account will pay the annual rate, which will put it near the top of the best-buy tables for some customers, up to the first £10,000, whereas Goldman's [...]
Royal Bank of Scotland name ‘under review’ as bank rebuilds its reputation after financial crisis October 8, 2018 The Royal Bank of Scotland (RBS) is reportedly considering changing its name to distance itself from the financial crisis 10 years ago. The RBS name is under review as part of a rebrand, chairman Sir Howard Davies said yesterday, as the bank claims to have fixed historical problems as it turns its attention to its [...]
RBS: No-deal Brexit could send UK economy reeling October 4, 2018 Royal Bank of Scotland (RBS) boss Ross McEwan has warned that a no-deal Brexit could push the UK into another recession. Economic growth could fall flat or even turn negative if the UK leaves the EU without a deal, he told the BBC. Read more: 'End Brexit psychodrama' – Chamber of Commerce chief pleads with [...]
RBS in talks with the Bank of England over share buyback plans September 20, 2018 The Royal Bank of Scotland has started discussions with the Bank of England over a special share buyback in a bid to speed up the privatisation process. Speaking at a conference in New York RBS deputy chief financial officer Katie Murray confirmed that the bank is in talks with the Prudential Regulation Authority (PRA) over the details of [...]
Royal Bank of Scotland testing new Natwest digital business banking platform September 18, 2018 Royal Bank of Scotland (RBS) has started testing a new business banking platform alongside a separate digital retail bank. The platform, which is being run under the Natwest brand, is in very early-stage tests with a small number of small businesses. The business bank tests are running alongside a separate retail banking offering in development, [...]