Royal Bank Of Scotland Share Discussion Threads

[leedskier] 24/4/2013 07:53

Transaction charges are the only way out for standalone retail banks. Northern European banks impose them and no-one blinks.

[marwalker] 24/4/2013 07:47

Not only is the Co Op is backing out of Lloyds but Peston is saying that they will get out of banking alltogethor ................. he thinks that they don't see a profitable future for the business.

[leedskier] 24/4/2013 07:46

24 April 2013 | 07:33am

StockMarketWire.com -

•Public sector net borrowing was £15.1bn in March 2013, £1.6bn lower net borrowing than in March 2012

•After removing the effects of special transactions, public sector net borrowing was virtually the same as in 2011/12, at £120.6bn

•Public sector net debt at the end of March 2013 was 75.4% of GDP

Commenting on the Public Sector Finances for March 2013, published by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

"The headline figure shows an improvement compared with a year ago, but was only marginally better than the estimates published by the OBR at the time of the Budget. For the entire financial year, the deficit remained virtually unchanged. Government spending in the financial year rose by 1.8% in nominal terms, only a modest real fall when factoring in inflation.

"Britain's structural deficit remains unacceptably high, and the increase in the country's net debt reinforces the case for adhering to a realistic deficit cutting plan. The Chancellor should persevere with real cuts in spending, while prioritising measures that will enhance the productive potential of the economy. If the Chancellor demonstrates continued commitment to a realistic fiscal plan, the markets will allow him greater flexibility. He can then choose whether to use the flexibility that his own plans provide."

[leedskier] 24/4/2013 07:25

From the LLOY RNS above ......


The Co-operative Group's Board has decided that they can no longer proceed with a purchase of the Verde business given their view of "the impact of the current economic environment, the worsened outlook for economic growth and the increasing regulatory requirements on the financial services sector in general."

[leedskier] 24/4/2013 07:24

BARC

Return on average shareholders'
equity 7.6% 12.4% 6.5% (4.5%)
Return on average tangible
shareholders' equity 9.0% 14.6% 7.6% (5.3%)
Return on average risk weighted
assets 1.2% 1.8% 1.1% (0.4%)
Cost: income ratio 68% 61% 71% 96%
Loan loss rate (bps) 56 63 56 63

Basic earnings/(loss) per
share 8.1p 13.2p 6.7p (4.9p)
Dividend per share 1.0p 1.0p 1.0p 1.0p

Capital and Balance Sheet 31.03.13 31.12.12
================================ ======== ======== ======== ======== ========
Core Tier 1 ratio 11.0% 10.8%
Risk weighted assets GBP398bn GBP387bn
Adjusted gross leverage 20x 19x
Group liquidity pool GBP141bn GBP150bn
Net asset value per share 405p 414p
Net tangible asset value
per share 344p 349p
Loan: deposit ratio 105% 110%

[leedskier] 24/4/2013 07:18

24 April 2013

LLOYDS BANKING GROUP UPDATE ON EC MANDATED BUSINESS DISPOSAL (PROJECT VERDE)

Lloyds Banking Group plc (the Group) is today providing an update on its EC mandated disposal, known as Project Verde.

The Group has been informed that, despite the commitment of both parties to the transaction, The Co-operative Group's Board has decided that they can no longer proceed with a purchase of the Verde business given their view of "the impact of the current economic environment, the worsened outlook for economic growth and the increasing regulatory requirements on the financial services sector in general."

The Group now intends to divest Verde through an Initial Public Offering (IPO), having maintained this option throughout the process in order to ensure best value for our shareholders and certainty for our customers and colleagues. It is expected that the IPO will be subject to regulatory and EC approval, and an update on the timing of an IPO will be given in due course.

The Group continues to make good progress in the creation of Verde as a stand-alone bank. A strong management team is in place and we have made good progress in creating segregated IT systems on the proven Lloyds Banking Group platform and in building the necessary corporate functions to support front-office colleagues, branches and operational sites.

Detailed plans are in place for a rebranding of the business as TSB which will be visible on the High Street during the summer of this year, at which point the TSB Bank (Verde) will operate as a separate business within Lloyds Banking Group.

There are no direct impacts to customers as a result of today's announcements. Customers don't need to do anything and can carry on banking in the same way as they do now, accessing their accounts as usual via the branch, telephone and online banking. The Group is committed to ensuring that the transfer to the TSB Bank is as smooth as possible for customers and will seek to minimise any disruption during this process.

António Horta-Osório, Chief Executive of Lloyds Banking Group said:

"We are disappointed that The Co-operative Group is unable to complete this transaction. However, we are well advanced in our plans to bring the Verde business to the UK High Street during the summer through the TSB Bank, and will now proceed with the option to IPO the business, subject to the necessary approvals. The TSB Bank will be an attractive retail and commercial bank that will have around 630 branches across the UK, a strong management team and will be a real challenger on the high street."

- END -

[dope007] 24/4/2013 07:16

Apple profit warn, Barclays miss, Data is woefull, and still they ramp the markets up on money printing. A big fall is coming imho

[leedskier] 24/4/2013 07:10

Given the issues and restructuring that is not a surprise, but it is disappointing.

[dope007] 24/4/2013 07:05

Big miss from Barclays

[leedskier] 24/4/2013 07:02

BUMI is suspended pending completion of its accounts, I think.

[leedskier] 24/4/2013 07:01

TODAY - WEDNESDAY, 24 APR 2013

Symbol Company Event
GEMD.L Gem Diamonds Ltd Gem Diamonds Ltd Interim Management Statement for the period 1 January 2013 to 23 April 2013
SMDS.L DS Smith PLC DS Smith PLC Pre-Close Trading Statement
BARC.L Barclays PLC Barclays PLC Q1 2013 Interim Management Statement
SL.L Standard Life PLC Standard Life PLC Q1 2013 Interim Management Statement
FENR.L Fenner PLC Interim 2013 Fenner PLC Earnings Release
RDW.L Redrow PLC Redrow Plc Interim Management Statement
PIC.L Pace PLC Pace PLC Q1 Interim Management Statement
GSK.L GlaxoSmithKline PLC Q1 2013 GlaxoSmithKline PLC Earnings Release
UBM.L Ubm PLC Ubm PLC Interim Management Statement for 3 month to 31 March 2013
BUMIP.L Bumi PLC Preliminary 2012 Bumi Plc Earnings Release
BWNG.L N Brown Group PLC Preliminary 2012 N Brown Group PLC Earnings Release

[leedskier] 24/4/2013 06:59

I think your mouse is out of control ;