All Entries Tagged With: "RBS"
No collar clause in existing, RBS, Northern Rock and C&G mortgage deals
Royal Bank of Scotland (RBS) Bradford & Bingley, HBOS who own Halifax, Northern Rock, Nationwide Building Society all followed the lead from competitors Lloyds TSB and Abbey in passing the full 1.5 percent Bank England Base interest rate cut onto its customers.
Most homeowners who have either a mortgage loan that is attached to their banks [...]
HSBC profits up in Asia, amid talks of 600 job losses
Europe’s biggest bank HSBC Holdings Plc have announced a rise in asset sales in Asia resulting in an increase in third-quarter profits offsetting the ailing economy in America where bad loans increased.
HSBC said that in the third quarter markdowns on asset-backed securities were $4.8 billion, The London-based bank said that they set aside $4.3 billion [...]
£300,000 Royal Bank of Scotland (RBS) Champagne Party
Less than a month since Royal Bank of Scotland (RBS) was given a £20 billion bailout from the British taxpayers they have blown £300,000 on a lavish secret champagne party for executives according to reports in the Daily Mail.
Bankers of the UK Bank enjoyed the party to mark their ‘success’ after a disastrous year in [...]
Former Chief Executive of RBS hits out at HBOS
Former Royal Bank of Scotland (RBS) Chief Executive Sir George Mathewson and former Chief Executive of Bank of Scotland Sir Peter Burt have both attacked the HBOS board of Directors insisting that CEO Andy Hornby and Chairman Andy Hornby should hand in the resignations, the HBOS board have rejected the bold move.
Sir George who stepped [...]
RBS SVR cut to 5.19 percent: Halifax SVR cut to 5 percent
British banks Royal Bank of Scotland (RBS) including subsidiary NatWest joined Halifax who are owned by HBOS and agreed today to pass on the whole 1.5 percent cut onto their Standard Variable Rate (SVR) following the Bank of England’s surprise decision yesterday to cut the base rate by 1.5 percent to 3 percent. RBS new [...]
HSBC, RBS, Halifax, Barclays all FINALLY agree on cut
After tense talks and immense pressure from the Government Royal Bank of Scotland (RBS), HSBC, Barclays, Nationwide, Halifax, Standard Chartered and HBOS all have now agreed to cut their Standard Variable Rates, although not all banks will pass on the full 1.5 percent cut that would shadow the Bank of England’s shock cut yesterday.
This news [...]
HSBC, RBS and Barclays: Ordered to urgent meeting
The Treasury summoned bank bosses from Royal Bank of Scotland (RBS), HSBC and Barclays to an unscheduled urgent meeting after the Bank of England slashed the base interest rate by 1.5 percent taking the base rate to its lowest level in 53 years.
The Prime Minister Gordon Brown said this morning “We are determined to [...]
RBS to post worse ever loss sparking job fears
Royal Bank of Scotland (RBS) anticipate global job losses according to the UK banks new chief executive, adding that they are set to record the banks first annual loss in its history. Stephen Hester who is the new CEO will be taking over from Sir Goodwin within the next few weeks, sparked fears regarding job [...]
RBS tumble further with 8 percent drop in earnings
As the Royal Bank of Scotland (RBS) outlines its plans for the government backed £20 billion rescue they announce a fall of 8 percent in underlying earnings since the beginning of the 2008.
The UK bank said full figures would take a massive knock by write downs and rising bad debt which has reached £206 [...]
Barclays, RBS and HSBC plunge as FTSE stands strong
Barclays shares plunged 7.2 percent to 166p on this mornings trade as Merrill Lynch estimated that the deal of raising capital privately could cost investors £3.2 billion. The announcement that Barclays are raising funds from investors in Qatar and Abu Dhabi of £7 billion sent the shares tumbling 19 percent since the deal was unveiled [...]
RBS and HBOS in billion pound write-downs
The UK banks Royal Bank of Scotland and HBOS are expected to announce huge write-downs and warn this week that that full-year profits will probably be much lower than is expected, this comes as they are about to receive £30 billion or more of taxpayers’ money.
RBS are expected to announce its interim management statement tomorrow [...]
RBS offers fixed two-year mortgage at 5.74 percent
Royal Bank of Scotland (RBS) who also own NatWest are offering a fantastic new two-year fixed rate deal for new and existing customers who have 75 percent loan-to-value on their home.
The new 2-year deal is offered by RBS or NatWest will also have a reduced lenders fee down from £999 to just £499. For new [...]
Royal Bank of Scotland’s (RBS) lending policy under political pressure
Vince Cable the Deputy leader of the UK Liberal Democrats wrote to the Business Secretary Lord Mandelson and the Chairman of the Royal Bank of Scotland to demand that the loan given by the bank to a company owned by Oleg Deripaska should be repaid on time.
Vince Cable said in his letter to the [...]
Stock Loses: RBS, Abbey, HSBC and Prudential
The FTSE-100 index lost 5 percent or 204.47 point to land on 3,883.36, the FTSE All-Share index also lost 5 percent at the end of last week’s trade. As investors are poised to see what happens in the stock markets this week, here is a quick overview of Royal Bank of Scotland (RBS), HSBC and [...]
RBS, HBOS, Lloyds TSB told to help small Businesses
The new Business Secretary Lord Mandelson along with Alistair Darling, the Chancellor, will meet with British Bank chiefs today in a bid to help small businesses through a recession. The banks thought to be attending the meeting are Royal Bank of Scotland, HBOS who own Halifax and bank of Scotland and Lloyds TSB the meeting [...]