Last $11.37 USD
Change Today -0.22 / -1.90%
Volume 369.1K
As of 4:15 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

royal bank of scot-spon adr (RBS) Key Developments

The Royal Bank of Scotland Group plc Announces Executive Changes

Prudential plc confirms that Howard Davies, non-executive director of the company, will join the board of the Royal Bank of Scotland Group plc at the end of June 2015 and will assume the role of Chairman of The Royal Bank of Scotland Group plc with effect from September 01, 2015.

Howard Davies to Join the Board of The Royal Bank of Scotland Group plc at the End of June 2015 and Chairman with effect from 1 September 2015

Prudential plc confirmed that Howard Davies, non-executive director of the company, will join the board of The Royal Bank of Scotland Group plc at the end of June 2015 and will assume the role of Chairman of The Royal Bank of Scotland Group plc with effect from 1 September 2015.

The Royal Bank of Scotland Group plc Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

The Royal Bank of Scotland Group plc reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company has posted net interest income of £2,382 million against £2,283 million a year ago. Operating loss before tax was £683 million against operating loss of £9,087 million a year ago. Loss from continuing operations was £1,723 million against loss from continuing operations of £8,684 million a year ago. Loss for the period was £5,605 million against £8,591 million a year ago. Loss attributable to ordinary and B shareholders was £5,791 million against £8,720 million a year ago. Basic LPS from continuing operations was 6.9 pence against basic LPS from continuing operations of 78.0 pence a year ago. For the year, the company has posted net interest income of £9,258 million against £9,017 million a year ago. Operating profit before tax was £2,643 million against operating loss of £8,849 million a year ago. Profit from continuing operations was £734 million against loss from continuing operations of £9,035 million a year ago. Loss for the period was £2,711 million against £8,477 million a year ago. Loss attributable to ordinary and B shareholders was £3,470 million against £8,995 million a year ago. Basic EPS from continuing operations was 0.5 pence against basic LPS from continuing operations of 85.0 pence a year ago. Net cash flows used in operating activities was £20,387 million against £30,631 million a year ago. Net interest income grew to £11.27 billion from prior year's £10.99 billion.

The Royal Bank of Scotland Group plc Announces Management Changes

The Royal Bank of Scotland Group plc (RBS) announced that Philip Hampton would leave the company during 2015 and Howard Davies will succeed him as Chairman. Philip Hampton will step down as Director and Chairman of RBS with effect from 31 August 2015. Howard Davies will join the board at the end of June and assume the role of Chairman from 1 September 2015. Howard has an extraordinary breadth of experience across the UK financial services sector, having held the roles of Chairman of the Financial Services Authority, Deputy Governor of the Bank of England, Director General of the Confederation of British Industry and CEO of the Audit Commission. Howard is currently Chairman of Phoenix Group, a non-executive Director of Prudential plc, and a non-executive Director of Morgan Stanley. He will step down from Phoenix and Morgan Stanley. He will complete his work as Chairman of the UK Airports Commission before assuming the role of RBS Chairman and will retain his position at Prudential and as Professor of Practice at Sciences Po, Paris.

RBS Plans to Exit Its Markets Businesses In Central and Eastern Europe, The Middle East and Africa

The Royal Bank of Scotland Group plc (LSE:RBS) will end investment banking in the Middle East and Africa and "significantly" reduce its presence in Asia and the US after a seventh-straight annual loss, the state-rescued lender said. Ross McEwan, Chief Executive Officer of RBS, said, "We plan to fully exit our Markets businesses in Central and Eastern Europe, the Middle East and Africa, and substantially reduce our presence in Asia Pacific and the US."

 

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