Banks

RBS Exits Government’s Asset Protection Scheme

17 Oct 2012 @ 15:00
UK’s public money-backed Royal Bank of Scotland (LSE:RBS) is to exit the British Government’s version of an insurance program specifically for financial institutions, three years after the bank agreed to be protected against future credit losses during the wake of the financial crisis. RBS, the only British bank that sought this protection after Lloyds Banking […]
 

Santander Backs out to Acquire RBS Branches

15 Oct 2012 @ 14:12
Hours after trading closed in London on Friday last week, The Royal Bank of Scotland (LSE:RBS) announced Santander UK plc decided to pull out of its agreement to acquired RBS branches in England and Wales and NatWest branches in Scotland, putting serious pressure on the British bank to find an alternative solution to comply with […]
 

Direct Line Is Off and Running

11 Oct 2012 @ 14:56
RBS’ (LSE:RBS) divestment of it insurance arm, Direct Line Group (LSE:DLG) has officially begun with limited trading in this year’s IPO Derby.  Opening at 175.00, the share price was off and running to 186.80 mark shortly after 1:00 pm.  The 450 million shares were being gobbled up like a horse that hadn’t eaten in a […]
 

Barclays To Acquire ING Direct UK

09 Oct 2012 @ 13:08
Britain’s second largest bank by asset, Barclays (LSE:BARC), is poised to expand its reach after agreeing to acquire a competitor’s savings and mortgage business in the UK to be added to the bank’s retail operation and said the deal will immediately be “accretive” to the bank’s return on equity. In a statement today, Barclays disclosed […]
 

By George, I Think Hester's Got It!

02 Oct 2012 @ 14:05
Just one day after Michael Wheatley warned the UK banking sector that they have yet to see below the waterline of the iceberg that is looming before them in the form of the FCA, Royal Bank of Scotland (LSE:RBS) CEO Stephen Hester has taken the high ground, indicating that he intends to steer the titanic […]
 

Watch Out! Wheatley's On the Way!

01 Oct 2012 @ 15:11
The decades-old Carpenter’s hit “We’ve Only Just Begun” has become Martin Wheatley’s favorite song.  He likes to hum it in a minor key so that any bankers who hear him will sense that something major and ominous is coming.  They would be right.  For some, it’s going to be game over, once Wheatley gets the […]
 

LIBOR To Remain the Benchmark

28 Sep 2012 @ 15:17
London Inter-Bank Offer Rate, or LIBOR, is to remain the benchmark to be used in transacting business amongst financial institutions, incumbent Managing Director of the Financial Service Authority, Martin Wheatley, recommended.  This followed an independent review of the tainted benchmark commissioned in response to the recent rate-rigging scandal that has instigated a series of investigations...
 

PPI Was Not Mis-Sold; It Was Scammed

27 Sep 2012 @ 14:48
Lloyds (LSE:LLOY), RBS (LSE:RBS) and Barclays (LSE:BARC), always leaders in the banking industry are leading it in an unenviable and potentially disastrous category:  PPI miss-selling complaints. The complaints The FSA reported this morning that overall complaints had risen a whopping 129% in the first six months of 2012.  With more than 2,230,000 complaints in the […]
 

BOE Names Banks Joining New Lending Scheme

25 Sep 2012 @ 15:05
The Bank of England has named the banks and financial institutions that took part in a new lending scheme  UK’s central bank formulated to boost the cash-starved British economy.  Whilst they were named, it is up to these institutions how to allocate the funds. Five of the six biggest lenders in the British market, namely: […]
 

Is "Good" Good Enough for RBS?

25 Sep 2012 @ 14:33
RBS (LSE:RBS) Group CEO Stephen Hester presented a progress report on the restructuring process of the bank at a conference in London.  He concluded that RBS “is nearing the point of becoming a recovered bank, and well on the way to becoming a good bank.” His PowerPoint presentation demonstrated milestones reached, and objectives yet to reach […]
 
 
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