RBS.L - The Royal Bank of Scotland Group plc

LSE - LSE Delayed price. Currency in GBp
206.80
+2.30 (+1.12%)
As of 10:07AM BST. Market open.
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Previous close204.50
Open206.80
Bid206.90 x 0
Ask207.10 x 0
Day's range204.90 - 210.30
52-week range176.55 - 274.20
Volume2,479,785
Avg. volume16,975,028
Market cap25.005B
Beta (3Y monthly)1.00
PE ratio (TTM)9.07
EPS (TTM)22.80
Earnings date21 Feb 2019 - 25 Feb 2019
Forward dividend & yield0.04 (1.96%)
Ex-dividend date2019-08-15
1y target est301.06
  • Forget a Cash ISA: I’d buy these 2 FTSE 100 stocks today instead
    Fool.co.uk

    Forget a Cash ISA: I’d buy these 2 FTSE 100 stocks today instead

    These two FTSE 100 (INDEXFTSE:UKX) shares seem to offer higher return prospects than a Cash ISA.

  • Reuters - UK Focus

    UPDATE 2-Brexit optimism breathes life into UK-focussed stocks

    UK stocks ended Friday on a high note as optimism that a no-deal Brexit could be avoided spurred a rally in stocks with domestic exposure, overpowering losses in blue-chip exporter stocks that were hit by a stronger sterling. The FTSE 100 rose 0.3%, with homebuilder Barratt jumping nearly 6% to top the gainers. The country's big banks Lloyds, Royal Bank of Scotland and Barclays added more than 5%.

  • Reuters - UK Focus

    Irish buy-to-let arrears rise for second successive quarter

    The proportion of Irish residential investment property loans in arrears over 90 days rose for the second successive quarter to the highest level in more than a year, central bank data showed on Thursday. The amount of so-called buy-to-let loans in arrears rose to 15.2% in the second quarter from 14.6% in the first three months of the year when the quarterly rate rose for the first time since it peaked at 22.1% in 2014.

  • Could the RBS share price double your money?
    Fool.co.uk

    Could the RBS share price double your money?

    Shares in Royal Bank of Scotland Group plc (LON: RBS) look cheap, but are they really?

  • Lloyds latest to be surprised by PPI deadline with £1.8bn claims surge
    Yahoo Finance UK

    Lloyds latest to be surprised by PPI deadline with £1.8bn claims surge

    Lloyds is cancelling its share buyback after 'a significant spike' in PPI claims around the August deadline.

  • Reuters - UK Focus

    UPDATE 4-Lloyds and Barclays hit by $4 bln insurance mis-selling claims

    Lloyds and Barclays on Monday said a surge in late claims could see them pay out around $2 billion more each to settle Britain's costliest consumer banking scandal, the mis-selling of payment protection insurance (PPI). Lloyds on Monday said it will set aside up to an extra 1.8 billion pounds ($2.2 billion) to settle PPI claims, while Barclays later said it would set aside between 1.2 billion pounds and 1.6 billion pounds.

  • Reuters - UK Focus

    Britain at risk of losing leading edge in maritime services

    Britain's position as a top hub for maritime services is being eroded by competition, a loss of shipping finance business and the removal of tycoon-friendly tax breaks, a report said, deepening uncertainty for its financial sector as Brexit nears. The UK has been a pivotal global shipping centre for centuries, especially the City of London, and has dominated marine insurance, ship broking, shipping finance and other maritime services. "We estimate that if the UK had maintained its market share over the last two years, this would have resulted in an additional $700 million p.a.

  • Why the RBS share price fell 9.1% in August
    Fool.co.uk

    Why the RBS share price fell 9.1% in August

    Fat dividends from Royal Bank of Scotland Group plc (LON: RBS) should reward patient shareholders, says Roland Head.

  • Boris Johnson ‘Would Rather Be Dead’ Than Delay Split: Brexit Update
    Bloomberg

    Boris Johnson ‘Would Rather Be Dead’ Than Delay Split: Brexit Update

    (Bloomberg) -- Follow @Brexit, sign up to our Brexit Bulletin, and tell us your Brexit story. Boris Johnson’s six-week-old premiership was thrown into yet more disarray after his brother quit the government in protest at his Brexit strategy. After three days of humiliation, the beleaguered prime minister launched a fightback in a speech in northern England, appealing directly to the public for an election to resolve Britain’s political crisis. He said he would “rather be dead in a ditch” than ask the European Union to delay Brexit again.Key Developments:Minister Jo Johnson resigns, citing tension between “family loyalty and the “national interest”Johnson making appeal for election Prime Minister will try again to persuade MPs to trigger an early general election on MondayHouse of Lords debating bill to block no-deal Brexit until FridaySplits appear in cabinet over Johnson’s tacticsThe pound rose 0.6%U.K. Said to Want to Unpick Deal (6:05 p.m.)Boris Johnson wants to remove several parts of the deal that was struck between the U.K. and EU in November, according to an official briefed on Wednesday’s negotiations in Brussels.David Frost, Johnson’s envoy, told the European Commission the U.K. wants to:Remove many articles of the contentious Irish border “backstop,” leaving only provisions on citizens’ rights, the common travel area and single electricity market on the island of Ireland. He didn’t say what the U.K. wanted in its place.Take out references in the political declaration on the future relationship to the “level playing field” which would keep the U.K. aligned to many of the EU’s standards. The EU says this is necessary for an ambitious free-trade agreementChange the way the agreement would be governed to take out references to the European Court of Justice. The EU said this would affect future police and judicial cooperation.Johnson Doubles Down on Push for Oct. 15 Election (6 p.m.)Boris Johnson pledged to hold a general election on Oct. 15, or even earlier, if opposition Labour Party leader Jeremy Corbyn wants that. The prime minister was responding to a question about whether he can be trusted not to shift the date of an election in order to take the U.K. out of the EU without a deal.“We want an election on October 15 and indeed earlier if he wants: :Let’s crack on with it,” Johnson said. “If he wants to avoid a no-deal Brexit, or if he wants to avoid a hard Brexit then he should believe in himself to go to Brussels on Oct. 17 to that crucial summit and sort it out.”The premier said the current situation is unsustainable. “I really don’t see how you can have a situation in which the British ability to negotiate is absolutely torpedoed by Parliament in this way, with powers of the British people handed over to Brussels so that we can be kept incarcerated in the EU without that actually being put to the people in the form of a vote,” he said.Johnson Glosses Over Split With Brother (5:35 p.m.)Johnson was asked about his brother Jo’s decision to quit the government earlier in the day, citing a conflict between family loyalties and the national interest (see 11:30 a.m.). He glossed over questions about whether he was acting in the national interest and said “people disagree about the EU.”“Jo doesn’t agree with me about the EU because it’s an issue obviously that divides families, that divides everybody,” said Johnson, before noting that his brother supports his wider agenda for the country.The premier also said he’d spoken to his brother earlier in the day, and praised his service as a minister for science and universities.Johnson: ‘Rather be Dead’ Than Delay Brexit (5:30 p.m.)Johnson said he would “rather be dead in a ditch” than ask for a delay in Brexit beyond Oct. 31.Answering questions after a speech in northern England, Johnson said he guaranteed that he wouldn’t ask for an extension from the EU while he is prime minister. But he dodged the question when he was asked if this meant he would resign rather than sign up to another delay.Johnson Makes Plea For Election (5:18 p.m.)Johnson is making a speech at a police academy in the north of England in which he is expected to make a plea for a general election.He will also reassert his pledge to recruit 20,000 police officers and trumpet his commitment to law and order as he gets a head start in the campaign for votes.But on a stage with dozens of police officers, his surroundings may be a gift to opponents who have accused him of staging a “coup” by suspending Parliament -- and to sketch writers likely to suggest he’s taking his commitment to “taking back control” to a new level.Johnson to Meet Varadkar on Monday (4:45 p.m.)Prime Minister Boris Johnson will travel to Dublin early on Monday to meet his Irish counterpart Leo Varadkar. He’ll return to London in time to be in the House of Commons for the key vote on a general election in the evening, his spokeswoman, Alison Donnelly, told reporters.U.K. Offers Banks $1.6b to Guarantee Brexit Loans (3:45 p.m.)Business Secretary Andrea Leadsom and other senior ministers met with lenders including HSBC, Lloyds and Barclays on Thursday to encourage them to support small and medium-sized companies through Brexit.The state-backed British Business Bank has 1.3 billion pounds ($1.6 billion) available to help banks lend money to businesses that need it, the Business Department said in an emailed statement. “Lenders must empower their SME customers to seize the huge variety of opportunities that lie ahead as we leave the EU on October 3,” Leadsom said.Leadsom was joined in the meeting by Michael Gove, the cabinet minister in charge of no-deal Brexit preparations, Economic Secretary to the Treasury John Glen and Small Business Minister Kelly Tolhurst. Other lenders included Bibby Financial Services, Virgin Money, Metro Bank, RBS, Santander and TSB.Johnson Calls Corbyn ‘Chlorinated Chicken’ Again (1:15 p.m.)Boris Johnson met U.S. Vice President Mike Pence in Downing Street, and used the opportunity -- while talking about a future free-trade deal -- to make the same joke as Wednesday when he called opposition Labour leader Jeremy Corbyn a chicken because he didn’t vote for an early general election .“We will make sure we do everything we can to increase free trade,’’ Johnson told Pence. “The National Health Service is not on the table as far as our negotiations go -- we’re not too keen on that chlorinated chicken either. We have a gigantic chlorinated chicken already here on the opposition bench.”Pence said the U.S. is “ready, willing and able” to offer the U.K. a trade deal.No-Deal Bill to Get Rapid Royal Assent (1:15 p.m.)Leader of the House of Commons Jacob Rees-Mogg said that the bill passed by MPs last night blocking a no-deal Brexit will get royal assent -- come into law -- “speedily” once it is debated for the final time in the Commons on Monday. The bill is currently in the House of Lords, and is due to return to the Commons, potentially with amendments, by Friday evening.Gove Sees Johnson Resignation as Unlikely (1:05 p.m.)Michael Gove, the Cabinet minister in charge of no-deal planning, is still speaking to the House of Commons committee on Brexit. Asked whether Boris Johnson would resign rather than ask for another delay, he said: “I don’t think the prime minister has any intention of resigning.”Under legislation working its way through Parliament, Johnson would be compelled to seek a delay to Brexit if by Oct. 19 he’s failed to secure a new Brexit deal or persuade MPs to back a departure without a deal. The premier said in reaction: “I refuse to do this.” Instead, he wants a general election before then -- but MPs refused to vote for one.That means if Johnson fails to secure an election, on Oct. 19 he’d be faced with the conundrum of either writing the letter or disobeying the law.Berger: Not Clear Where She’ll Stand for Lib Dems (1 p.m.)Luciana Berger, who joined the Liberal Democrats as an MP Thursday, said it was not yet clear if she will stand in the district of Liverpool Wavertree at the next election because of the party’s localized decision-making structure. It’s “not a decision for me,’’ she told Sky News. “I’d like to remain making a contribution to public life.’’Berger quit the Labour Party in February citing anti-Semitic bullying. She has remained as an independent candidate until today. The Liverpool Wavertree district has a strong Labour history and the Liberal Democrats have already selected a candidate for the area.MPs Will Vote Again on Early Election (12:50 p.m.)Leader of the House of Commons Jacob Rees-Mogg laid out a list of motions that will be debated in the House of Commons on Monday, culminating in a “motion relating to an early parliamentary general election.”It will be a second attempt by the government to force an early general election -- the next one currently isn’t due until 2022. Late on Wednesday, Johnson tried and failed to secure the 434 votes he needs -- two thirds of the House of Commons -- to call a ballot.Opposition parties declined to approve of an election because they want a bill to pass into law that would stave off a no-deal Brexit on Oct. 31. By Monday, that bill is likely to have passed into law, and the government’s calculation is that opposition parties may then swing behind his demand for a fresh election.Rees-Mogg also said that all bills needed for the U.K. to leave the European Union are in place.Gove Says New Brexit Deal Can Be Secured (12:35 p.m.)Cabinet Office Minister Michael Gove, who’s in charge of no-deal Brexit preparations, said the changes to the Brexit agreement being sought by Johnson are “eminently achievable.’’He said that while he would support former Prime Minister Theresa May’s deal if it came back to the house of Commons for another vote, the changes Johnson is seeking would mark a “material improvement” in the deal. They are to strip out the Irish backstop, and alter the political declaration to make clear Britain would be outside the customs union and single market. He also said the U.K. wants a free-trade agreement with the bloc.Gove was giving evidence to the House of Commons Exiting the European Union Committee. He earlier said that the Operation Yellowhammer document spelling out the potential impact of a no-deal exit that was leaked to the Sunday Times last month represented a “reasonable worst-case scenario,” and not a base-case prediction. He said there was no evidence to suggest former Chancellor of the Exchequer Philip Hammond could have been behind the leak.Business Secretary to Meet With Banks (11:40 a.m.)Business Secretary Andrea Leadsom will meet later Thursday with executives from the country’s main banks to discuss their support for small and medium-sized companies through Brexit, Prime Minister Boris Johnson’s spokesman, James Slack, told reporters in London.Johnson Wants Election Before Oct. 17 EU Council (11:35 a.m.)Prime Minister Boris Johnson will say in a speech this afternoon that he wants an election before the EU council meeting on Oct. 17, his spokesman James Slack said.“The prime minister believes we should have the election before the EU council and asks MPs to reflect on the sustainability of their position,’’ Slack told reporters. “Having chosen to introduce a bill that destroys our negotiating position,’’ he said, politicians “ must take responsibility for their actions.”Johnson’s Brother Quits Over Strategy (11:30 a.m.)Boris Johnson’s own brother, Jo Johnson, said he’s quitting the government and his seat in Parliament because of differences with the prime minister.“In recent weeks I’ve been torn between family loyalty and the national interest,” Jo Johnson said on Twitter. “It’s an unresolvable tension & time for others to take on my roles as MP & Minister. overandout.”The departure is a severe blow to the prime minister at a time when he’s alienated the moderate wing of his party by expelling 21 MPs on Tuesday because they voted against the government in order to stave off the risk of a no-deal Brexit on Oct. 31.Jo Johnson is a longstanding pro-European -- and had quit as a minister under former Prime Minister Theresa May because he believed the country needed a second referendum on Brexit. It raised eyebrows when he agreed to serve in his brother’s government -- because the premier was the figurehead of the Leave campaign in the 2016 referendum.Former Labour MP Berger Joins Liberal Democrats (11 a.m.)While Johnson has been expelling MPs from his party, Parliament’s fourth party, the Liberal Democrats keep growing. Luciana Berger, who quit Labour earlier in the year, said on Thursday she’s joined the Liberal Democrats.It’s the party’s second addition of the week, after Philip Lee’s defection from the Conservatives on Tuesday deprived Johnson of his majority. They now have 16 MPs.Javid Hopes Rebels Can Return (9:30 a.m.)Chancellor of the Exchequer Sajid Javid said he wants the 21 rebels expelled from the Conservative Party on Tuesday to be reinstated, though he also added Johnson had “no choice” but to fire them.Javid’s comments follow reports of an argument in cabinet this week in which a group of senior ministers, led by no-deal Brexit minister Michael Gove, demanded that Johnson should give the rebels a way back into the party. The prime minister refused.“I would like to see those colleagues come back at some point,” Javid told LBC radio. “They are not just my colleagues; these are my friends, they are good Conservatives.”Javid said it was right for Johnson to make Tuesday’s vote -- allowing Parliament to seize the legislative timetable in order to block a no-deal Brexit -- a matter of confidence in the government. Those who voted against it knew the “consequences,” he said.Swinson Wants Extension Before Election (9 a.m.)Liberal Democrat Leader Jo Swinson said she wants a general election only after an extension to Brexit has been agreed with Brussels.She said she believes Johnson wants an election before his exit deadline of Oct. 31 so he can take the U.K. out of the EU without a deal and blame Brussels for the failure to get an agreement.“He’s frightened of being found out,” she told Sky News. “He’s got an opportunity to go and get that great deal he said he could get and get it past Parliament, but he’s frightened to do that.”Caroline Nokes, one of the MPs expelled from the Tory Party on Tuesday, also said Johnson shouldn’t rush a national vote. “It’s really cynical to try to force through an election,” she said. “The tool we need in Parliament is time.”Labour ‘Consulting’ on Election Timing (Earlier)Labour Treasury Spokesman John McDonnell said the party is consulting with its own MPs and other parties over the best timing for a general election.While some want a national vote once a law against a no-deal Brexit is enacted, others want to wait until after a further delay to Jan. 31 has been secured before going to the country. None of the opposition parties have any confidence that Johnson will keep to his word, he said in media interviews on Thursday morning.“We have to be the adults in the room,” McDonnell said, after comparing Johnson to a toddler having a tantrum. Labour wants to keep “as much control as we possibly over the date of that election,” he told Sky News.Earlier:Johnson Boxed In Over Brexit as Bill Is Pushed Through LordsPound Rally Stalls After Lawmakers Reject Johnson’s Brexit PlansBrussels Edition: No Deal for Boris\--With assistance from Justin Sink, Ian Wishart and Thomas Penny.To contact the reporters on this story: Alex Morales in London at amorales2@bloomberg.net;Kitty Donaldson in London at kdonaldson1@bloomberg.net;Jessica Shankleman in Wakefield at jshankleman@bloomberg.netTo contact the editors responsible for this story: Tim Ross at tross54@bloomberg.net, Stuart Biggs, Mark WilliamsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    UPDATE 1-Britain's Clydesdale Bank shares plunge 20% on PPI provisions bombshell

    Shares in Britain's Clydesdale Bank tumbled by a fifth on Thursday, after it made a fresh 300 million to 450 million pound ($368 million-$552 million) provision to settle mis-selling claims linked to Britain's most expensive consumer banking scandal. The lender, which also owns Yorkshire Bank and Virgin Money brands, said late on Wednesday it had received an "unprecedented volume" of complaints from customers seeking compensation for mis-sold payment protection insurance (PPI) before an Aug. 29 deadline. The PPI saga has already cost lenders more than 36 billion pounds in compensation payouts, but a surge in last minute claims is already ratcheting up costs further.

  • Reuters - UK Focus

    LIVE MARKETS-Italy govt line-up cheers investors

    * European stocks up 0.9% on comforting political news * Hong Kong kills extradition bill, HK-exposed stocks top gainers * UK may avert no-deal Brexit, German shares up 0.9% * Italian stocks hit session high as PM unveils govt lineup * Wall Street opens up as robust Chinese data eases growth concerns Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net ITALY GOVT LINE-UP CHEERS INVESTORS (1529 GMT) The political crisis in Italy has been a short one this time - less than one month - and Prime Minister Giuseppe Conte will swear in his government already tomorrow, having unveiled a cabinet list that's being met with favour.

  • How low can the RBS share price go?
    Fool.co.uk

    How low can the RBS share price go?

    Royal Bank of Scotland Group plc (LON: RBS) shares have slumped to prices not seen since 2016. Surely they can't go down much further?

  • Reuters - UK Focus

    LIVE MARKETS-Fasten your seatbelt... for a further slowdown

    * European stocks up 0.7% on comforting political news * Hong Kong kills extradition bill, HK-exposed stocks top gainers * UK may avert no-deal Brexit, German shares up 0.8% * Italian stocks hit session high as PM unveils govt lineup * Wall Street opens up as robust Chinese data eases growth concerns Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net FASTEN YOUR SEATBELT... FOR A FURTHER SLOWDOWN (1433 GMT) A flurry of disappointing manufacturing PMI data recently has cemented a gloomy outlook for the global economy, with the warning from IHS Markit/CIPS today about the UK economy being in serious danger of its first recession since the financial crisis underscoring worries about Brexit.

  • RBS Bill for PPI Tops £6 Billion After New Provision
    Bloomberg

    RBS Bill for PPI Tops £6 Billion After New Provision

    (Bloomberg) -- Two major U.K. lenders warned that a last-minute rush by compensation-seeking customers will make the most expensive scandal in British banking even costlier.Royal Bank of Scotland Group Plc said Wednesday it plans to set aside as much as 900 million pounds ($1.1 billion) more for claims related to payment protection insurance, or PPI, that customers didn’t want or need. The lender was followed hours later by CYBG Plc, the owner of the Virgin Money brand, which warned that it expects a “material” spike in costs.CYBG said that it had received “unprecedented volumes of information requests and saw a significant spike in the final days prior to the complaint deadline,” which was Aug. 29. British lenders have spent the past eight years compensating customers who were mis-sold PPI. The policies, some of which dated back decades, were intended to cover missed debt repayments and were often sold using aggressive tactics. In the worst cases, banks misled customers by telling them that PPI was mandatory for loans.The update from RBS takes the state-backed lender’s total bill for PPI compensation to about 6.2 billion pounds. RBS said the volume of claims received during August was significantly higher than expected and the preliminary range for the latest provision is between 600 million pounds and 900 million pounds, though it could be less or more than that total. CYBG, which said it’s still working on determining the final cost of the August surge, had previously set aside almost 2.7 billion pounds for redress. Just 156 million pounds of that sum hadn’t been paid out as of the end of March.The news comes at a challenging time for RBS as it searches for a replacement for outgoing Chief Executive Officer Ross McEwan. The bank is also contending with the economic jitters from Brexit, blaming an “uncertain and competitive environment” last quarter for net interest income that missed analysts’ estimates.In July, Lloyds Banking Group Plc, the country’s biggest mortgage lender, took a similar charge as customers rushed to meet the PPI deadline. Banks paid 35.7 billion pounds to PPI customers between January 2011 and May this year, according to the Financial Conduct Authority.CYBG shares slid as much as 4 percent before recouping much of that loss in early afternoon trading. RBS shares rose 1 percent, broadly in line with other U.K. banks.To contact the reporters on this story: Viren Vaghela in London at vvaghela1@bloomberg.net;Harry Wilson in London at hwilson57@bloomberg.netTo contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Keith Campbell, Marion DakersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Turning more constructive on Italy

    HK-exposed names top gainers * HK cancels proposed extradition bill * UK may avert no-deal Brexit, German shares rally (+1%) * Italian banks gains after 5-Star/PD on track to form new govt Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net TURNING MORE CONSTRUCTIVE ON ITALY (1115 GMT) Italy is one of the key ingredients of today's return of risk appetite with the Milan bourse standing out among European benchmarks.

  • What to Watch: Quiz profit warning, Amazon's tax bill rises, and Halfords warns on summer sales
    Yahoo Finance UK

    What to Watch: Quiz profit warning, Amazon's tax bill rises, and Halfords warns on summer sales

    A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.

  • PPI claims deadline costs RBS £900m
    Yahoo Finance UK

    PPI claims deadline costs RBS £900m

    Banks have been forced to pay out close to £50bn in compensation to consumers who were miss-sold.

  • Reuters - UK Focus

    UPDATE 3-RBS may face new PPI hit of up to 900 million pounds

    Britain's Royal Bank of Scotland may have to shell out a further 900 million pounds ($1.1 billion) to settle a final compensation bill for mis-selling payment protection insurance after a last-minute surge in customer claims. The news gives credence to recent comments by industry experts that Britain's most costly consumer banking scandal could yet have a sting in the tail even after an August 29 deadline for claiming compensation. Separately on Wednesday, rival Clydesdale Bank (CYBG), which also owns the Yorkshire Bank and Virgin Money brands, said it had also received "unprecedented volumes" of requests for information from customers in the run-up to the complaints deadline.

  • RBS may face new PPI hit of up to 900 million pounds
    Reuters

    RBS may face new PPI hit of up to 900 million pounds

    Britain's Royal Bank of Scotland may have to shell out a further 900 million pounds ($1.1 billion) to settle a final compensation bill for mis-selling payment protection insurance after a last-minute surge in customer claims. The news gives credence to recent comments by industry experts that Britain's most costly consumer banking scandal could yet have a sting in the tail even after an August 29 deadline for claiming compensation. Separately on Wednesday, rival Clydesdale Bank (CYBG), which also owns the Yorkshire Bank and Virgin Money brands, said it had also received "unprecedented volumes" of requests for information from customers in the run-up to the complaints deadline.

  • Reuters - UK Focus

    UPDATE 1-UK's Javid says finance sector is top priority as Brexit nears - source

    British finance minister Sajid Javid told representatives of the country's financial services industry on Monday that the sector was a top priority for him as the country prepares to leave the European Union, a person familiar with the discussions said. Sajid said he was committed to close dialogue with the largest firms in the sector at the meeting, his first major encounter with the industry since he took over as finance minister in July, the person said. Brexit topped the agenda as the likelihood of Britain leaving the EU on October 31 without a deal with Brussels increases, a second source said.

  • Britain's banks face 25% earnings hit from no-deal Brexit - Citigroup
    Reuters

    Britain's banks face 25% earnings hit from no-deal Brexit - Citigroup

    Britain's banks face a hit of up 25% to their earnings if Britain crashes out of the European Union without a deal, analysts at Citigroup said in a research note. The economic slowdown that would result from a no-deal Brexit, as well as the likelihood of lower interest rates and borrowers defaulting on loans, would hit earnings per share by between 15 to 25%, the analysts at Citi wrote in the note published on Thursday.

  • Reuters - UK Focus

    Britain's banks face 25% earnings hit from no-deal Brexit -Citigroup

    Britain's banks face a hit of up 25% to their earnings if Britain crashes out of the European Union without a deal, analysts at Citigroup said in a research note. The economic slowdown that would result from a no-deal Brexit, as well as the likelihood of lower interest rates and borrowers defaulting on loans, would hit earnings per share by between 15 to 25%, the analysts at Citi wrote in the note published on Thursday.

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