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| Name | Symbol | Market | Type |
|---|---|---|---|
| Royal Bank of Scotland Group PLC | NYSE:RBS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.09 | 0 | 01:00:00 |
From May 2019 to May 2024
By Max Colchester
Royal Bank of Scotland Group PLC on Wednesday warned it would take provisions totaling about GBP2.5 billion ($3.59 billion) in its full-year results to cover a range of issues including a looming settlement with U.S. authorities over the sale of mortgage-backed securities.
In an update to the market RBS said it would set aside an extra GBP1.5 billion to cover litigation surrounding the sale of toxic mortgage securities. A further GBP500 million will be provisioned to cover the wrongful sale of insurance product Payment Protection Insurance. The bank is also writing down the goodwill value of its private bank by GBP498 million.
RBS said it expects to have a full-year Core Tier 1 capital ratio of 15%. It said it expected the hit on capital "to be partially offset by a reduction in RBS's core-capital requirements."
The bank also said it would recognized a GBP3.5 billion liability related to it pension plan.
Write to Max Colchester at max.colchester@wsj.com
(END) Dow Jones Newswires
January 27, 2016 02:45 ET (07:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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