Royal Bank Of Scotland Share Discussion Threads

[m1k3y1] 31/5/2018 23:15

It appears that he was the sole shareholder as of March 2016 and Daniel Isman was appointed as a Director on 5th July 2017.

[m1k3y1] 31/5/2018 23:06

David Grossbard
hxxps://joelsonlaw.com/david-grossbard/

[m1k3y1] 31/5/2018 22:54

Thanks Bar.
Difficult to see how Evalusafety could justify the 20M it is seeking in fees , when it has no trading records to demonstrate that it was capable of delivering 20m pounds worth of professional work to the RBoS AG.

i.e. Signature has both the professional track record, capability, peer recognition and success record to justify the fees it charges.

Evalusafety has nothing........so why would the RBoS AG commit itself to a 20 m agreement with a firm that has no established trading record ????

[barmiddleton] 31/5/2018 22:32

I've also looked up Evalusafety at Companies House and, guess what? They have also granted four Charges in favour of Opis Asset Holdings Limited, the same as the Action Group. So, assuming that the Action Group will never be able to repay the loan to Opis the repayment must be expected to accrue from the proceeds of the £20M demanded from the settlement proceeds, or whatever sum they eventually agree on, if any that is.

The Directors listed for Evalusafety are a David M Grossbard, solicitor and a Daniel Isman, Director. The company was incorporated on 26 March 2013. The latest Accounts disclosed, to 31 March 2017 show its only assets were £4 comprising 4 ordinary shares all held by David Grossbard. So this company at that date was not even worth the cost of a fish supper!

[m1k3y1] 31/5/2018 20:30

Thanks CI.
Take a look at the charges that were registered on 29th march 2018.
The chargor is shown as evalusafety Limited

[chinese investor] 31/5/2018 19:12

RBOS Shareholder Action Group filed their Annual (to August 2017) Accounts today.
Member's Funds went from £565,000 to £264,000.

[leedskier] 31/5/2018 19:12

Markets slump as US slaps metal tariffs on EU, Canada and Mexico

[leedskier] 31/5/2018 18:55

credit rating upped

[smurfy2001] 31/5/2018 15:59

Back in with my ISA trade chaps ;)

Leaving some cash on the side to drip feed.

Order Status Executed
Order Reference
Date 31/05/18
Time 15:57
Stock Name ROYAL BANK OF SCOTLAND GROUP PLC ORD GBP1
Action Buy
Order Type Market
Symbol RBS
Limit Price
Price £2.723

[polar fox] 31/5/2018 15:53

MSE have posted this on their website this afternoon:

TSB customers have been accidentally sent letters to other customers revealing their names and addresses, MoneySavingExpert.com can reveal, in the bank's latest blunder since its massive IT meltdown.

We've seen at least 20 reports over the past couple of days from TSB customers who've received a letter saying the bank was dealing with their complaint and apologising for the delay in response.

All say they've received letters addressed to at least one other customer - in some cases alongside a correctly addressed letter. One customer's reported receiving six letters in the same envelope.

unquote

RBS does, of course, regularly come bottom of MSE's six monthly poll of banks. I think there are 13 banks voted on.

[raffles the gentleman thug] 31/5/2018 14:43

Pleasure equilibrium - I felt I had to try to put my thoughts on paper having been a little emotive after the AGM statement and sector sell off. But in cold light of day I'm actually buying quite a bit now with confidence. Although it might be a waiting game from here to price these on or below book value is just ridiculous, and frankly really exposes the Lloyds relative valuation particular as both have similar RWAs and earn similar returns on capital adjusted for the RBS surplus capital. I personally think once shareholders in the latter look at the relative numbers they would struggle to justify their position in LLoyds relative to RBS. Anyway RBS will do about 25p a share of clean earnings into 2019 on a benign economic scenario and have no need to retain a penny of that.

[equalibrium] 31/5/2018 14:34

Good post raffles the gentleman thug (30 May '18 - 19:46 - 151055 of 151060)

I am hoping a dividend announcement is on its way as I have been caught out by the £3 billion sell off and Italy / spain situation and need to see £3.00 a share asap

[smurfy2001] 31/5/2018 10:01

Shame he didn't leave without a dividend announcement that would have been cherry on top.

[polar fox] 31/5/2018 07:27

This is what the Times says:

The outgoing chief financial officer of Royal Bank of Scotland has been interviewed by HSBC, which is searching for a new finance director.

Mark Tucker, chairman of HSBC, has spoken to several candidates in the past few weeks.

The plan to replace Iain Mackay as head of the finance department at Britain’s biggest bank comes three months after the departure of Stuart Gulliver as chief executive.

Ewen Stevenson, RBS’s chief financial officer, is understood to be among the favourites to replace Mr Mackay. Yesterday he announced his decision to quit the state-backed bank after four years. Mr Stevenson’s tenure has been marked by several milestones for RBS, which reported its first annual profit this year since its £45.5 billion state bailout in 2008.

RBS employs…

[smurfy2001] 31/5/2018 00:29

Well there is a reason for that:-

“Obviously when you look at what’s been happening in the markets in the last few days, with Spain and Italy and a significant sell-off in bank stocks, I would be surprised if now is an optimum time to sell stocks,” Stevenson said.

[gcom2] 30/5/2018 20:11

Even more ludicrous is that share price is now same as before the doj fine came in 7bn under!!!

[raffles the gentleman thug] 30/5/2018 19:46

At the risk of boring everyone with my umpteenth RBS post today, I'd just like to say that what I find ludicrous about the AGM Statement is the blatant contraction between Ross McEwan telling us quite clearly that this business doesn't have incremental capital needs because the balance sheet will only expand in line with the pedestrian pace of the UK's 1.5% economic growth; and Howard Davies then telling us that dividends will start small but grow incrementally.


Taking Ross McEwan at his word means that Risk Weighted Assets can realistically only expand by £3bn off their 31 March 2018 level of £202.7bn, which if one were to hold the CET1 at its already elevated pro forma 15.1% would mean an incremental capital need from retained earnings of just £450m.


And just to put that in context the underlying adjusted operating earnings of this business were £4.8bn in 2017. Now assuming that remains unchanged, and with £2bn of tax deductible pension contributions and about £1bn of non tax deductible DoJ provisions, this means net attributable profits this year should be at least £1.5bn, which would enable a £1bn dividend payment or about 8.3p per share - a yield of 3.0%.


BUT the Alawwal/Sabb merger should allow for a £4.9bn reduction in RWAs down to about £200.8bn, meaning that their capital need is actually declining NOT increasing and the implication of that is that they could pay out the full £1.5bn of net attributable earnings or about 12.5p a share (4.5% yield) and still have a CET1 needlessly expanding from a pro forma 15.1% up to at least 15.5% by year end - in stark contrast to Lloyds at 14.0%.


Now I am guessing from his statement that what Howard Davies doesn't want to do is immediately address the over capitalisation of RBS, whilst UKGI is about to embark on a five-year programme to divest of its stake. Bidding for the Government's shares and/or embarking on a share buyback whilst UKGI is placing stock raises all manner of conflict of interests and furthermore risks immediately embarrassing the Government should the shares rise sharply. However he will be frankly embarrassing the entire RBS board of directors to allow core CET1 to further expand whilst Lloyds is holding its own at 14% and paying handsome dividends and on top of that redeeming 2% of its issued share capital a year.

So I think he's got no choice really but to allow pretty much a full payout of earnings this year - i.e., the initial "small" dividend yield will be closer to 4.5% on the current share price. But thereafter, his problems mount in managing his incremental dividend growth, since on the assumption of a continued benign economic environment he'll have little choice but to either consider a full payout of £3bn in dividends (near 10% yield) or see his core CET1 soar past 16% thereby exposing the bank to a certain level of ridicule.

Certainly any institutional investor being sounded out by UKGI's advisors is going to be asking the same questions on dividend policy loud and clear, and if the Government wish to be seen to be selling shares above tangible book value then this management team is going to have to come up with answers fast.

[polar fox] 30/5/2018 17:17

As Scamper says, the FTSE spiked at the closing auction. I've looked at the bank charts and both Lloyds and RBS hardly participated in that move.

[polar fox] 30/5/2018 16:51

Exactly, Leeds. When they say "jump", McKewan says "how high?".

[gcom2] 30/5/2018 16:51

It appears the 10% stake same was fake news.

[cfc1] 30/5/2018 16:50

divi has to pass some legal statutory requirements so cant see any reason why McEwan wont reinstate a divi this year - like he has promised for past THREE!

[leedskier] 30/5/2018 16:45

from your link


Speaking on the sidelines of RBS’s annual general meeting in Edinburgh, Mr Stevenson said the UK Government “don’t talk to us about what their sell-down intentions are”.

“Last time they gave (chief executive) Ross (McEwan) a call out of courtesy a few minutes before they were due to start selling.”

[scamper] 30/5/2018 16:34

ftse spikes