Royal Bank Of Scotland Share Discussion Threads

[leedskier] 30/7/2015 08:15

The FTSE100 is up 0.5%.

[smurfy2001] 30/7/2015 08:15

Think he means l closed my CFD too soon. I took profit this morning and posted my screenshot.

[cfc1] 30/7/2015 08:14

leeds what do you mean re " too soon"?

[benchmark] 30/7/2015 08:11

Not a chance of that happening

[cfc1] 30/7/2015 08:10

I think private investors will pile in here. This stock trails the ftse by a huge margin!

[smurfy2001] 30/7/2015 08:08

Leeds, got a long term position (non CFD), just having fun :)

cfc1, yeah that's what l meant, l only did 5K CFD.

[cfc1] 30/7/2015 08:07

it was 20k shares! well remember my background. I like 'action' and adrenalin and risk!

[leedskier] 30/7/2015 08:07

smurfy too soon I think.

[smurfy2001] 30/7/2015 08:06

Nice one cfc1, not brave enough for 20K position.

[cfc1] 30/7/2015 08:03

well I think I placed my chips well at the close yesterday....nice profit already of £2500 approx!

[smurfy2001] 30/7/2015 08:00

Closed CFD for over £600 profit in one day.

[smurfy2001] 30/7/2015 07:59

Ft.com

RBS sell-off plans boosted by second-quarter profit

[smurfy2001] 30/7/2015 07:56

Newspapers catching up. First off the telegraph.

Royal Bank of Scotland Group unexpectedly posted a second-quarter profit as the British Government prepares to reduce its stake in the lender, even as it set aside more money for litigation and restructuring.
Net income was £293m, up from £230m a year earlier, Edinburgh-based RBS said in a statement on Thursday. Analysts had expected a loss of £259m in the period, according to the average estimate of 10 in a company survey.

Ross McEwan, chief executive, is selling assets and cutting thousands of jobs to return the bank to annual profit ahead of the UK government’s plans to sell £25bn of its RBS shares within five years. The bank took a £1.1bn restructuring charge in the second quarter and £459m for conduct and litigation.

The results follow a £446m loss for the first quarter when the bank set aside money for currency-manipulation probes. Chancellor George Osborne has said he plans to start reducing the UK’s 78pc stake in RBS within months, even though it may cause a loss for taxpayers, who provided RBS with £45.5bn of capital during the financial crisis.

Profit excluding restructuring costs and conduct and litigation charges was £1.8bn, down from £1.9bn a year earlier. That beat the £1.3bn estimate of four analysts in a Bloomberg survey.
The bank’s common equity Tier 1 ratio, a measure of financial strength, was at 12.3pc at the end of the first half, up from 11.5pc at the end of March.

The stock has slumped about 10pc this year, the worst performing major UK lender. Lloyds Banking Group has gained 13pc as the Government reduced its stake to less than 15pc.

[leedskier] 30/7/2015 07:52

The analysts had expected a loss of circa £300m.So as it made a profit it should be a good day.

[cfc1] 30/7/2015 07:49

whats premarket reaction look like. But this is improvement

[smurfy2001] 30/7/2015 07:29

Made a profit at least. Restructuring costs are eye watering though.

[tfergi] 30/7/2015 07:25

Look good, on track, good tier 1 improvement, just got to get these fines out of the way and re-instate the divi.
Getting there nicely IMHO

[gcom2] 30/7/2015 07:20

raising my target from 55p to 58p

[jazza] 30/7/2015 07:15

Oodles of pointless excess capital - yet useless/thieving politicians/regulators haven't finished ruining the UK banks.


"RBS plans to return excess capital to shareholders through dividends or buybacks, subject to regulatory approval. This is dependent on the achievement of certain strategic objectives, including sustained profitability, improved stress test results and resolving our major conduct and litigation issues. As a result we do not expect to be in a position to return capital before Q1 2017 at the earliest."

[skinny] 30/7/2015 07:07

Highlights

The Royal Bank of Scotland Group (RBS) continues to deliver on its plan to build a stronger, simpler and fairer bank for both customers and shareholders.

A strong operating performance from Personal & Business Banking (PBB) and Commercial & Private Banking (CPB) contributed to an attributable profit of £293 million for Q2 2015 (loss of £153 million for H1 2015):

● Q2 operating profit(1) was £304 million, in line with Q1 2015. Litigation and conduct costs were lower at £459 million compared with £856 million in Q1 2015, while restructuring costs rose to £1,050 million from £453 million in Q1 2015 as the pace of restructuring accelerated.

● Adjusted operating profit(2) was £1,813 million, up 11% from Q1 2015 but down 7% from Q2 2014, principally driven by reduced income in Corporate & Institutional Banking (CIB) following the planned scaling back of the business. Q2 2015 income benefited from a £205 million credit for IFRS volatility(3), compared with a £123 million charge in Q1 2015. H1 2015 adjusted operating profit was £3,447 million, up 2% from H1 2014.

● Discontinued operations included a fair value gain of £517 million, of which £211 million was attributable to RBS, reflecting the rise in market value of Citizens shares and broadly reversing the loss recorded in Q1 2015.

● Tangible net asset value per ordinary and equivalent B share was 380p at 30 June 2015 compared with 384p at 31 March 2015.

RBS is making good progress against its 2015 targets, moving faster in delivering its plan:

● Positive lending momentum across UK Personal & Business Banking (UK PBB) and Commercial Banking.

● Statistically significant improvement in Net Promoter Scores (NPS) year-on-year in four of the seven businesses where it is measured.

● Adjusted return on equity(4) in the Go-forward Bank is estimated at 14% for H1 2015.

● Capital position strengthened further with Common Equity Tier 1 ratio up 80 basis points in Q2 2015 to 12.3%.

● Exit Bank ahead of plan with continuing progress on sales and run-off.

● On track to achieve £800 million cost reduction target(5).

[smurfy2001] 30/7/2015 00:14

£10bn share buy back possible in 2nd half according to investec

From Citywire:

"Investec hails triple boost for RBS
Investec is feeling even more confident about its ‘buy’ rating for Royal Bank of Scotland (RBS) as it believes the stars are beginning to align for the bank.

‘We believe that RBS is being inundated with incrementally good news from many directions,’ said analyst Ian Gordon.

‘[ThursdayR17;s] two disposals [of non-performing loan portfolios] remove loss-making assets, crystallise a £25 million gain in the third quarter, eliminate £1.1 billion of risk-weighted assets and (in our view) further increase the likelihood of a £10 billion share buyback in [the second half of next year],’ he said.

‘[Friday’;s] British Bankers’ Association data shows a sixth consecutive month of rising mortgage approvals, a key growth focus for RBS, and as a UK rate rise edges closer, RBS is the most positively exposed UK domestic bank,’ he added. ‘”Buy221; recommendation and 395p… target price reaffirmed.’

[leedskier] 29/7/2015 21:21

Catch22 all over again.

[ramco] 29/7/2015 19:35

With no press conference, expectations were muted going in, but seemed to hint at delaying a September/December liftoff is on the cards - needing more job improvement...

*FED SAYS LABOR MARKET CONTINUED TO IMPROVE, JOB GAINS `SOLID'
*FED REPEATS RISKS TO ECONOMY, JOB OUTLOOKS `NEARLY BALANCED'
*FED: RATE TO RISE AFTER `SOME FURTHER' JOB MARKET IMPROVEMENT
And so the confusion continues... the jobs market is telling the Fed one thing, while inflation (held down by a lackluster Chinese demand which has in turn exacerbated a global deflationary supply glut) is saying something different, and remember 25bps doesn't matter (just like subprime was "contained").

[ramco] 29/7/2015 19:33

According to Hisenrath...

"The Federal Reserve on Wednesday kept interest rates near zero but cited progress in the U.S. job market, a sign it remains on course to raise interest rates in September or later this year. At the same time, however, it flagged a nagging concern about low inflation, which is creating caution among officials and could convince them to delay the day of the first increase."