All Entries Tagged With: "RBS"
Northern Rock Joins RBS NatWest on Repossession Pledge
Royal Bank of Scotland (RBS) NatWest pledged on Monday that it would increase the grace period for homeowners in trouble keeping up repayments on the mortgage loans to six months before they begin repossession proceedings.
Now, fully nationalized bank Northern Rock and Bradford & Bingley have also agreed to adopt the same policy, and will [...]
Merrill Lynch Expects RBS To Earn Taxpayers £6 Billion
Royal Bank of Scotland (RBS) bailout by the Government could make the UK taxpayer £6 billion or more according to investment bank Merrill Lynch.
Merrill Lynch put a target price of 93p on the RBS shares value, this comes after Citigroup last week put the target price at 100p a
NatWest owned by RBS gets ready for overdraft refunds
Royal Bank of Scotland (RBS) subsidiary NatWest is preparing to refund customers overdraft fees if it loses the test case, according to an internal bank document that’s shows how banks are preparing in the event the case is lost.
The NatWest document points out that the cost could run into millions as the group accepts
Royal Bank of Scotland (RBS): Government Review
Royal Bank of Scotland (RBS) was told yesterday by the UK government that its business strategy, boardroom appointments and lending policy were being reviewed. This comes after the British taxpayer took 58 percent stake in the Edinburgh-based bank last week.
The UKFI which is the body that has been set up to look after the government’s [...]
Royal Bank of Scotland (RBS) Expects Further Rate Cuts
Economist at the Royal Bank of Scotland (RBS), Andrew McLauglhin, said that the Bank of England and the Monetary Policy Committee (MPC) are expected to cut rates again this Thursday.
RBS Chief Economist also hinted that the reduction In VAT will not do anything to encourage spending and expects the BOE to cut interest rates again [...]
Royal Bank of Scotland Will Wait 6 Months Before Repossession Proceedings
Royal Bank of Scotland (RBS) chief executive Stephen Hester has vowed that homeowners who have problems paying their mortgage repayments and fall behind will be given six months breathing space avoiding any repossession proceedings until then.
Reporting in the FT, RBS new Chief Executive Hester said that because they recognize their customer’s
Royal Bank of Scotland (RBS) stock position after Nationalization
Shares in Royal Bank of Scotland (RBS) closed slightly up on Friday after it was unveiled that the UK government was forced to part-nationalize RBS after existing investors rejected the share offering and now the taxpayer owns 57.9 percent of the bank which owns NatWest.
Throughout the day’s trade, Royal Bank of Scotland led the biggest [...]
Royal Bank of Scotland (RBS) has become nationalized
Royal Bank of Scotland (RBS) the Edinburgh based bank has become part-nationalized today as existing share holders rejected the £15 billion in new share offerings, the rejection was widely expected due to the offered share price.
This action will now make RBS the first bank under the £37 billion bailout plan from the government to be [...]
RBS: 0.24 percent of new shares sold to existing shareholders
Royal Bank of Scotland (RBS) has now confirmed that due to the £20 billion bailout by the government the British taxpayer is now the majority share holder with almost 60 percent share holding of the bank that less than a year ago, before the credit crunch hit was the UK’s second biggest.
RBS offered existing
Royal Bank of Scotland and NatWest Reduce Mortgage Rates
Royal Bank of Scotland (RBS) and NatWest have reduced rates on a new line of fixed-rate mortgage products.
NatWest who is owned by Royal Bank of Scotland new range of products are offered to new customers looking to purchase a home with a Loan-to-value (LTV) of 60 percent to 75 percent, or 35 to 40 percent [...]
FTSE 100 tumbles led by RBS, HSBC and HBOS
In London the FTSE 100 index plunged early on Wednesday by 1.3 percent. Royal Bank of Scotland (RBS), HBOS (LON:HBOS) and HSBC (LON:HSBA) led the way with declines between 1.3 percent and 3.5 percent.
The FTSE 100 had its biggest one day gain on Monday of nearly 10 percent and on Tuesday rose 0.4 percent after [...]
Citigroup rate Royal Bank of Scotland share value
Royal Bank of Scotland (RBS) cash call for £15 billion expired yesterday as the banks shares plummeted below the offer price. To bolster RBS’s finances, the government agreed to purchase any of the 22.9 billion new shares if the existing shareholders did not buy them.
Due to RBS share price closing at 53.60p much lower than [...]
Royal Bank of Scotland could become fully nationalized
Sir Fred Goodwin spent nine years controlling the Royal Bank of Scotland (RBS) and become in 2000 the highest paid British banking chief, he also was the man behind the world’s largest bank merger as a result RBS become Europe’s number one lender in June 2008, with 1.73 trillion pounds of assets.
However this month, Royal [...]
Royal Bank of Scotland: Price pledge on overdrafts for small businesses
Royal Bank of Scotland (RBS) has said that up to 100,000 of its small business customers may find themselves in financial difficulty as the economy worsens.
RBS who have over 1 million small business customers are bringing together a 500 strong team of bankers who will be on hand to offer intensive advice and support for [...]
Government warn RBS, Lloyds TSB and HBOS of Nuclear option
Today British banks like, Royal Bank of Scotland (RBS), HBOS and Lloyds TSB (LON:LLOY) will be warned by the UK Government that they may take the ‘nuclear option’ which will mean they will be forced into full nationalization if they do not resume lending to businesses.
The Chairman of the Commons Treasury select committee, John McFall [...]