Royal Bank Of Scotland Share Discussion Threads

[tradejunkie2] 11/12/2017 16:44

Sorry need to go for a poo back in a moment.

[raffles the gentleman thug] 11/12/2017 16:37

Yup Ramco but you missing the point that ten years ago the Pound Sterling in your pocket would have bought a whole lot more than it does today - and today it'll buy a whole lot more than it will do in ten years time

[ramco] 11/12/2017 16:26

Investment in crypto currencies or otherwise is nevertheless subject to the same rules of investing mainly Risk Analysis & Timing which includes both an entry and exit strategy with all in between.

PS this is deja vu 10+ years ago we both gave you pause for caution and were vilified for it. Those that do not learn from history are bound to repeat it...;)

[cfc1] 11/12/2017 15:29

Leeds...its on the CNBC non stop...or seems that way. Digital currency in a digital world of bits and bytes makes a lot of sense to me.
Its the next evolution of things ! RBS I've stuck with for years and made NOTHING!

[leedskier] 11/12/2017 13:13

The major US Investment Banks share the RBS view, namely it is dodgy. But it is keeping on keeping on for now and not just bitcoin all these electronic currencies are moving up. Click on the link in the ADVFN header above to see.

[cfc1] 11/12/2017 12:05

think I'll sell my RBS SIPP and pile it all into bitcoin!!!!!!!!!

[raffles the gentleman thug] 10/12/2017 21:03

More branches may close: RBS head of banking Jane Howard threatens she will wield the axe again if online 'revolution' continuesThe mastermind behind the axing of 259 Royal Bank of Scotland and NatWest branches says she cannot rule out more closures if there are further revolutions in the way people do their banking.In a wide-ranging interview, Jane Howard, head of personal banking, told The Mail on Sunday that the bank would have the 'right network shape' once it had completed its current closure programme and pruned its number of branches down to 780.But she would have no hesitation in axing more if personal banking was hit by a new revolution to rival those triggered by mobile phones and online banking.'It's right [the branch network] and it could be right in two years' time,' she says. 'But you can't say nothing is going to change.'Under her watch – she has held her current position at the bank since the summer of 2014 – the bank's branch network has nearly halved in size. Over that same time frame, the usage of one of its typical branches has fallen by 40 per cent while transactions carried out using mobile phone apps have increased by more than 70 per cent. She also insists the bank is only closing branches in response to changing banking behaviour. This is despite some branch workers at the 72 per cent state-owned bank telling The Mail on Sunday that they had been instructed to do everything possible to dissuade customers from using the counters, thereby helping to drive down usage figures and justify closures. One worker says that at his branch on the South Coast, cashier positions were deliberately closed so that branch users would be forced to use cash machines to do their banking. He also said the bank held regular 'digital days' and 'digital weeks' when branch staff were instructed to persuade as many customers as possible to opt for online banking or to set up mobile phone banking apps.He adds: 'The bank is hell-bent on getting customers to use online banking or the phone app.' Another says that even in areas where a significant number of NatWest branches have already closed, counter staff at the remaining branch had been reduced – despite a flood of new customers from the axed outlets. Howard, who has spent 37 years at NatWest – starting her career as a branch employee in Rochdale, Greater Manchester – does not deny the existence of such dark arts. Indeed, she defends them.She says: 'It would be wrong not to show customers how to use digital banking and how they can benefit from it. It is about choice. 'Yes, some customers do not want to do it. Fine, for them we still offer a face-to-face service at a branch. But as Black Friday recently showed, people are increasingly shopping online. 'More people are living lives based around their mobiles and the internet. It is the same with banking. We need to respond to this changing world.'Of the 259 branches being axed, some 30 are last banks in town. Over the years, The Mail on Sunday has campaigned vigorously against such closures on the grounds of their devastating impact on local communities. Often, the knock-on effect can be catastrophic as locals go elsewhere to get cash and do their shopping, leading to the closure of local businesses.Baroness Altmann, a former Government Minister, is 'deeply troubled' by the closures. 'Financial exclusion will rise if people are unable to access a bank branch,' she says. 'But Howard says the removal of a physical banking presence on the high street is not always as damaging to villages and towns as some forecast. She says the 11,600-strong post office network now provides a wide range of banking services to personal customers.'She also says her bank is investing in services to complement the reduced branch network. These include 39 mobile banks that between them stop at some 600 communities, and also a network of 100 'community' bankers. Their role, she says, is to assist people with their banking. 'They help people to do their banking online. They educate them about common scams, visit toddlers' groups and later life complexes.'While further closures cannot be ruled out, she insists that branches will remain integral to Royal Bank of Scotland's business. She believes a digital-only banking proposition is not right. 'Some customers love mobile banking, others love online banking, but sometimes they want to do things face-to-face, such as when they are opening an account or making a big payment.'Despite the statistics that Howard is keen to reel out to defend the closures – 99.7 per cent of customers live within 15 minutes of a branch, mobile branch or a post office – the bank is going to face a backlash.The closures have already attracted criticism in the House of Commons with some MPs such as Ian Blackford (Scottish National Party) stating they will fight them. His constituency of Ross, Skye and Lochaber is losing three RBS branches. He says: 'I will be standing up for my constituents, demanding these branches remain open.'

[polar fox] 10/12/2017 06:52

Another interesting piece from Bloomberg:


Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the U.K.’s breakthrough in Brexit negotiations would not alter their plans to establish an alternative trading hub inside the European Union.

While hailing the agreement to move talks on to a future possible trade deal as “good news” for businesses, McEwan cautioned that banks would still have to plan for the worst.

“Businesses like ours have to move forward as though we are not going to get any form of deal that would good for banking,” McEwan said in an interview with Bloomberg Television on Friday. “I don’t think we can pause for thought. We have to get in a position of having certain operations so that we can look after customers no matter what happens".
unquote

[raffles the gentleman thug] 09/12/2017 22:56

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he'd hoped ...."There are diminishing chances" the bank will settle with the U.S. Department of Justice in 2017, "but this is something that we do want to resolve," McEwan, 60, said in an interview with Bloomberg Television. "We are in a very strong capital position. I think there is a lot of distraction in the Department of Justice with other issues in the United States. I'm not too sure where we sit in the priority list."https://www.bloomberg.com/news/articles/2017-12-08/rbs-ceo-sees-diminishing-chance-of-doj-settlement-this-year

[smurfy2001] 09/12/2017 16:44

For me this represents a nice trade in the meantime should go up on next results.

Hold DYOR.

RBS CEO Ross McEwan on Brexit, DOJ, MiFID II

[polar fox] 09/12/2017 16:07

cfc,

The Senate has been very slow to confirm several people at the Asst. Attorney level (roughly equivalent to a Division Head) and there are still vacant slots. Taking that and everything else into account, I'm of the view that a settlement of the fine is unlikely before February's Results RNS; probably not in Q1 at all. RBS has no influence on the timing and there is little point, IMO, in you keep calling on management to 'get a move on'. But that's up to you, of course.

If that is going to be the timing, then the Antipodeans at the helm will simply have to decide, in February, how much additional provisioning (if any) they wish to do in order to reach their strategic goal of a profit in FY2018. I imagine that they will 'kitchen sink' as much as they dare to that end. That sort of thing 'goes with the territory' in banking.

Broadly speaking, this has been my view since it took so long for Rachel Brand to be confirmed, supported by my subsequent monitoring of the Senate/Trump Administration.

[ianood] 09/12/2017 14:29

"Talking about 'aving a turkish, I see shareprophets is now hidden behind a paywall. A soggy pizza I could understand, but a paywall!"

Leeds, I assume from the above that you have had a run in with these clueless muppets too?

[cfc1] 09/12/2017 11:00

polar fox - great post albeit frustrating. I just worked out that if I had invested my SIPP money in bitcoins 4 years ago I would be stinking rich by now!
You'd think McEwan would lobby No10 for support with the US DoJ !

[leedskier] 09/12/2017 10:40

Talking about 'aving a turkish, I see shareprophets is now hidden behind a paywall. A soggy pizza I could understand, but a paywall!

[leedskier] 09/12/2017 07:52

A most useful post polar fox. I am sure all invested here will be grateful for update even if they are unhappy about the delay.

[polar fox] 09/12/2017 06:43

From Bloomberg:

Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he’d hoped, though it’s well-capitalized to handle a settlement.


“There are diminishing chances” the bank will settle with the U.S. Department of Justice in 2017, “but this is something that we do want to resolve,” McEwan, 60, said in an interview with Bloomberg Television. “We are in a very strong capital position. I think there is a lot of distraction in the Department of Justice with other issues in the United States. I’m not too sure where we sit in the priority list.”

Such a deal would eliminate the biggest remaining obstacle to RBS resuming dividends, which would make it easier for the government to find buyers for the majority stake it still holds 10 years after the financial crisis. McEwan said that when RBS does restore dividends, it will start “small” before potentially considering special payouts.
unquote

[maxk] 08/12/2017 21:21

I'm thinking it's more along the lines of Fawlty Towers than Hotel California.

[ramco] 08/12/2017 20:57

Paying out and not getting a say..not the only fudge today Basel III too..

[leedskier] 08/12/2017 16:56

leedskier 29 Nov '17 - 09:43 - 149187 of 149317   0  0 Edit

Uncle Arthur, the terms on which we leave have yet to be finally determined. Having conceded on the cash to be paid, HMG will now have to concede on other issues as well.

Hotel California rules may yet apply on a host of issues including free movement, ECHR and European legislation.

......


but it appears only for 8 years

[barmiddleton] 08/12/2017 16:45

Nothing to report from my end unfortunately. It's been strangely quiet I have to say!

[m1k3y1] 08/12/2017 12:04

Today is the 8th, wondered if there was an update.

[cfc1] 08/12/2017 12:02

still wondering where this damn DoJ fine is....SP hardly moving lately! started year at a mere 23p equ and ending on a just as pathetic 28p equ.
meanwhile Bitcoin goes up 7trillionzillion quid!!!

Come on McEwan sort that damn DoJ out!!!!!!

[chinese investor] 08/12/2017 11:56

From a few weeks back :-

".....the costs of the application itself are now reserved to the arbitral tribunal. If these are not dealt with by the arbitral tribunal by 8 December 2017, then we have the option of going back before Mr Justice Hildyard to seek a determination of who should pay these costs, as we believe that these costs should not fall to be paid by the Claimants."