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Stock Market & Financial Investment News

News Breaks
February 12, 2014
11:49 EDTRBSMoody's reviewing Royal Bank of Scotland's ratings for downgrade
Moody's Investors Service has placed on review for downgrade Royal Bank of Scotland plc's A3 supported long-term debt and deposit ratings, the ratings for the bank's subordinated debt, junior subordinated debt and capital instruments. The long-term ratings of the holding the company, Royal Bank of Scotland Group plc, were also placed on review for downgrade. The firm's Prime-2 short-term ratings were affirmed. Moody's rating action follows the publication of a recent trading update, in which RBS's management indicated that the group's year-end 2013 results would be materially impacted by additional provisions for pending litigations and conduct-related costs. As a result, the bank will report a weaker than previously anticipated regulatory capital position at end-December 2013, weakening its standalone credit profile. During the review, Moody's will assess whether the bank's credit fundamentals remain compatible with the current ratings given (1) the challenges and risks RBS faces in relation to the execution of its recovery plan; and (2) any actions that RBS's management could pursue in the short-term that could effectively mitigate these risks and further boost the bank's regulatory capital position. Moody's has placed on review for downgrade all long-term ratings of National Westminster Bank plc and Royal Bank of Scotland NV.
News For RBS From The Last 14 Days
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July 28, 2014
10:02 EDTRBSOn The Fly: Analyst Upgrade Summary
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05:25 EDTRBSRoyal Bank of Scotland upgraded to Neutral from Underweight at JPMorgan
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July 27, 2014
15:44 EDTRBSRBS advised to sell stake in Ulster Bank, Reuters says
Royal Bank of Scotland has been advised by Morgan Stanley to sell a majority stake in its Irish unit, Ulster Bank, says Reuters, citing a report in Ireland's Sunday Business Post. Reference Link
July 25, 2014
09:02 EDTRBSRoyal Bank of Scotland says 1H shows progress but 'bumps' in road ahead
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09:01 EDTRBSRoyal Bank of Scotland sees 1H profit before tax GBP2.65B
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07:57 EDTRBSRBS says private equity investment in Ulster possible, Reuters reports
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06:40 EDTRBSLoan write down standards changed for non-U.S. banks, NY Times says
A new accounting rule will enable banks outside of the U.S. to write down the value of loans earlier but could cause loans to become less attractive for those banks, according to The New York Times. The rule was issued by the International Accounting Standards Board, whose guidelines are followed in more than 100 countries but not in America, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).Reference Link
July 23, 2014
09:00 EDTRBSU.K. committee chair says RBS 'willfully obtuse' with evidence, Reuters says
The chairman of the U.K.'s Treasury Select Committee accused Royal Bank of Scotland of being "willfully obtuse" when giving evidence to lawmakers probing its Global Restructuring Group unit, which deals with corporate clients who find themselves in financial distress, said Reuters. Reference Link
06:56 EDTRBSRBS could sell Ulster Bank to private equity firm, Irish Examiner reports
Royal Bank of Scotland (RBS) is considering selling its Ulster Bank unit to a private equity firm, the Irish Examiner. A purchase price for the unit could be anywhere between EUR500M-EUR2.5B, depending on what assets are included in the sale, the publication says. KKR (KKR) and Apollo (APO) are rumored buyers for the unit. Reference Link
July 18, 2014
11:21 EDTRBSBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
06:31 EDTRBSRBS winds-down distressed-debt unit as Weiss leaves, Bloomberg says
Royal Bank of Scotland is capping a distressed-debt division as it scales back its investment firm to revive profitability, according to Bloomberg citing three people familiar with the matter. The sources said that global head of a special situations group, Jon Weiss, departed this month. Reference Link
06:20 EDTRBSRBS considers selling Coutts' overseas operations, FT reports
Royal Bank of Scotland is eyeing the sale of Coutts' overseas operations, the Financial Times reports. The bank is currently conducting a review of its wealth management division. Reference Link

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