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18/04/2008
RBS 'To Appeal To Shareholders For Help'
Britain's second largest bank is expected to appeal to its shareholders for extra cash in an attempt to improve its financial position, it has been reported today.
According to reports, The Royal Bank of Scotland (RBS) - owner of NatWest, Ulster Bank and Direct Line insurance - is due to ask shareholders for up to £12bn cash in a bid to repair its balance sheet.
The move comes amid news of 2,300 City of London job cuts as a result of the credit crunch with Citigroup, which is expected to reveal 1,000 redundancies today.
In a statement issued by the RBS, they would only confirm that a trading update would be announced next week, ahead of its annual meeting on Wednesday.
A spokesman for the company said: "RBS notes recent speculation about a possible rights issue.
"RBS confirms that its Interim Management Report covering trading performance and capital will be made next week."
A rights issue – a means of raising a large sum of cash – could see existing shareholders at the group being offered new shares at a possible discounted price, which could raise billions of pounds for RBS.
(JM)
According to reports, The Royal Bank of Scotland (RBS) - owner of NatWest, Ulster Bank and Direct Line insurance - is due to ask shareholders for up to £12bn cash in a bid to repair its balance sheet.
The move comes amid news of 2,300 City of London job cuts as a result of the credit crunch with Citigroup, which is expected to reveal 1,000 redundancies today.
In a statement issued by the RBS, they would only confirm that a trading update would be announced next week, ahead of its annual meeting on Wednesday.
A spokesman for the company said: "RBS notes recent speculation about a possible rights issue.
"RBS confirms that its Interim Management Report covering trading performance and capital will be made next week."
A rights issue – a means of raising a large sum of cash – could see existing shareholders at the group being offered new shares at a possible discounted price, which could raise billions of pounds for RBS.
(JM)
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28 November 2008
Government To Buy RBS
The Government is to take up 57.9% ownership of the Royal Bank of Scotland. The government will pay about £15bn for the majority stake in RBS after shareholders failed to buy a large proportion of the new shares the bank had offered. It will also buy £5bn of preference shares in the bank.
Government To Buy RBS
The Government is to take up 57.9% ownership of the Royal Bank of Scotland. The government will pay about £15bn for the majority stake in RBS after shareholders failed to buy a large proportion of the new shares the bank had offered. It will also buy £5bn of preference shares in the bank.
28 July 2006
RBS to provide 'free' ATMs for poor
Royal Bank of Scotland is to provide an initial 300 free-to-use cash machines in some of the Britain's poorest areas. The bank is currently seeking the advice and support from MPs, credit unions and community leaders, to ensure that the most appropriate locations in the UK benefit.
RBS to provide 'free' ATMs for poor
Royal Bank of Scotland is to provide an initial 300 free-to-use cash machines in some of the Britain's poorest areas. The bank is currently seeking the advice and support from MPs, credit unions and community leaders, to ensure that the most appropriate locations in the UK benefit.
03 December 2013
Further Technical Glitches For RBS
The Royal Bank of Scotland (RBS) has said it will compensate those left "out of pocket" after a glitch meant many of its customers were left unable to pay for purchases. Customers of RBS, NatWest and Ulster Bank discovered services, such as online and card payments, were unavailable between 6.30pm and 9.30pm on Monday.
Further Technical Glitches For RBS
The Royal Bank of Scotland (RBS) has said it will compensate those left "out of pocket" after a glitch meant many of its customers were left unable to pay for purchases. Customers of RBS, NatWest and Ulster Bank discovered services, such as online and card payments, were unavailable between 6.30pm and 9.30pm on Monday.
06 March 2013
Bank Governor Demands RBS Split
Bank of England governor Sir Mervyn King has called for the Royal Bank of Scotland to be split up. speaking to the Banking Standards Commission he said: "The whole idea of a bank being 82%-owned by the taxpayer, run at arms' length from the government, is a nonsense. It cannot make any sense.
Bank Governor Demands RBS Split
Bank of England governor Sir Mervyn King has called for the Royal Bank of Scotland to be split up. speaking to the Banking Standards Commission he said: "The whole idea of a bank being 82%-owned by the taxpayer, run at arms' length from the government, is a nonsense. It cannot make any sense.
26 June 2012
RBS Bank Problems Keep Man In Cell
A man who had been granted bail spent the weekend in prison because of the RBS computer systems breakdown. The defendant, who has not been identified, was allowed bail at Canterbury crown court in Kent on Friday but was kept in a remand cell until Monday because it was not clear whether his bail surety had been paid.
RBS Bank Problems Keep Man In Cell
A man who had been granted bail spent the weekend in prison because of the RBS computer systems breakdown. The defendant, who has not been identified, was allowed bail at Canterbury crown court in Kent on Friday but was kept in a remand cell until Monday because it was not clear whether his bail surety had been paid.
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