RBS CEO Expects to Pay Fine to Settle Libor Probes Soon
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Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, said it expects to pay a fine in the coming months to settle regulators’ probes into allegations the lender tried to manipulate Libor.
Whether or not the penalty exceeds the record 290 million pounds ($467 million) Barclays Plc paid in June, “it will still be a miserable day in RBS’s history,” Chief Executive Officer Stephen Hester told reporters on a call today as the bank posted third-quarter operating profit that beat analyst estimates. “I’d be disappointed if we were talking to you at our full-year results in February without having had more news.”