Royal Bank of Scotland
July 21, 2010 - 3:05am | Law aspects | News
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Yesterday Barbara Jones, U.S. District Judge in Manhattan has finally closed the case against Goldman Sachs Group Inc. initiated by the U.S. Securities and Exchange Commission, started in April. According to the court decision the giant is to be paid $550 million to settle civil fraud charges for misleding buyers of mortgage-related investments. The penalty amount includes a $535 million fine and $15 million in restitution of fees it collected.
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July 16, 2010 - 9:09am | Banks and internet banks | News
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Royal Bank
of Scotland prosecutes Goldman Sachs for hundreds of millions of dollars to add
to $100 million it received as part of a settlement over the marketing of a
subprime mortgage product.
As it’s
known, resolving a high-profile government case related to the mortgage
meltdown, Goldman Sachs has admitted to pay a record $550 million to settle
civil fraud charges that it misled buyers of complex investments. |
-1 points
July 12, 2010 - 8:36am | Banks and internet banks | News
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One of the biggest bank of Europe Spanish Santander has announced purchasing of the retail banking division SEB (Sweden) which allowed the company to consolidate its full service operation in Germany, says Reuters. According to the official statement Santander buys 173 branches, 2,000 employees and around 1 million private customers in Germany.
The price of the purchase is 555 million euros ($699 million).
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July 5, 2010 - 5:31am | Banks and internet banks | News
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According to the reports by the German newspaper Welt am Sonntag the chief executive of Royal Bank of Scotland said that the ban aims to put the conditions in place for the British government to start selling its 83 percent stake in the bank next year. While the sale "won't be conducted in one go," it still should be started, believes Chief Executive Stephen Hester.
"But I would be disappointed if there would not be the first steps toward privatization next year," he added. |
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November 25, 2009 - 10:14am | Banks and internet banks | News
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 The U.K.'s Supreme Court on Wednesday unexpectedly ruled in favor of the banking sector in a long-running battle over the legality of overdraft fees.
The ruling means banks won't be forced to automatically refund billions of pounds of fees to customers. However, the court didn't rule on whether the charges themselves were fair, meaning customers can continue with individual claims against the banks.
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September 21, 2009 - 7:03am | Banks and internet banks | News
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Royal Bank of Scotland is considering selling as much as 4 billion pounds ($6.5 billion) of shares to existing investors in a move that would reduce the overall stake handed to the government under its asset-protection scheme, according to published reports.
The bank is questioning investors on whether they would be interested in purchasing 3 billion to 4 billion pounds of B-shares following the strong rally in bank stocks over the past several months, The Wall Street Journal reported.
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August 26, 2009 - 7:24am | Banks and internet banks | News
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According to sources familiar with the matter, Royal Bank of Scotland`s talks to sell some of its Asian assets to Standard Chartered remain "in full swing."
Asia-focused Standard Chartered has said it is in talks about small acquisitions in China and India, likely to cost up to $200 million. The talks involve the retail and small business operations that state-controlled RBS hopes to sell as part of a turnaround plan, the sources said. |
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August 17, 2009 - 6:20am | Banks and internet banks | News
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The Scottish bank said on Sunday that Britain's financial regulator has launched a supervisory review of Royal Bank of Scotland's takeover of ABN Amro. The review would look into the "whys and wherefores" of RBS' battle with Barclays and what due diligence was performed, the Daily Telegraph said.
The Financial Services Authority notified the group in April 2009 that it would carry out the review, the bank said in a note in its half-year results.
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August 13, 2009 - 7:43am | Banks and internet banks | News
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According to the sources, Royal Bank of Scotland has spent more than £10 million hiring two bankers, in a move that may further inflame the row over City bonuses. RBS, which is 70 % taxpayer-owned, has poached a star banker from Merrill Lynch Antonio Polverino on a £7 million one-year package. Its new finance director, Bruce Van Saun, is joining from Bank of New York Mellon next month on a multimillion-pound salary. |
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June 23, 2009 - 6:49am | Banks and internet banks | News
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Shareholders in Royal Bank of Scotland fumed over a potential pay deal for the new chief executive. Stephen Hester will receive a total of 9.6 million pounds ($19.7 million) if he rescues the ailing bank. At the same time, retailer Marks & Spencer PLC said its chief executive and marketing officer had offered to forgo a third of their long-term bonus awards after pressure from shareholder groups.
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June 2, 2009 - 6:55am | Banks and internet banks | News
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As it became known today, Barclays’ shares plunged by 13% after Abu Dhabi's International Petroleum investment Co. announced about its intention to sell 1.3 billion shares in the bank, worth around 4.1 billion pounds ($6.7 billion) at the previous day's closing price.
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May 22, 2009 - 7:17am | Banks and internet banks | News
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In order to restructure its organization, Royal Bank of Scotland Group PLC announced Friday that it has appointed Standard Life PLC Chief Executive Sandy Crombie to its board as non-executive director, effective June 1, when Mr. Crombie will become the senior independent director of the RBS board.
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February 27, 2009 - 5:40am | Banks and internet banks | News
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British taxpayers’ ownership of the Royal Bank of Scotland could increase to as much as 95% as a result of the new deal between the bank and the government. The U.K. government agreed to insure 325 billion pounds ($462 billion) of the bank’s assets after RBS posted a 2008 net loss of 24.1 billion pounds which is said to be the biggest loss in British history.
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February 23, 2009 - 7:41am | Banks and internet banks | News
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U.K. stocks rose, rebounding from a three-month low. Recent reports about Royal Bank of Scotland Group Plc speculation to cut costs and the fact that the U.S. government may lift its back in Citigroup Inc. inspired a rally in financial sector.
Royal Bank of Scotland jumped 20% to 23.1 pence. The lender is planning to cut costs, partly by scaling back investment banking, by more than 1 billion pounds (or $1.44 billion). |
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February 9, 2009 - 5:58am | Banks and internet banks | News
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Britain was indignant at the plans of the Royal Bank of Scotland to pay a billion pounds in bonuses to its staff while the country suffers an increasing unemployment and deepening downturn, reports the Reuters. Alistair Darling, British finance minister, promised that the bankers responsible for money losses would not receive big cash compensations.
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