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LON100:RBS, Oct 25, 05:21 UTC

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Friday, October 09


News

Loreburn Housing Association and RBS agree additional £20m funding for new social housing - Scottish Construction Now

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Loreburn’s programme of socially rented properties includes Extra Care housing for Moffat and Langholm. Lorraine Usher, chief executive of Loreburn Housing Association, said: “We are pleased to be sharing positive news in this difficult and challenging climate. David Horne, director of housing finance, commercial and private banking at RBS, added: “Building on our recent £3bn commitment to the social housing sector across the UK over the next 3 years, we are proud to support Loreburn Housing Association meet its key strategic goals of developing much needed affordable housing to the Dumfries & Galloway region, with this transaction meaning we now have over £40 million of total commitments in place to the Association. “Loreburn is a highly innovative organisation that has developed a great offering to meet the needs of their residents and the wider communities that they operate in, and this new funding will go a long way to meeting their medium to long term objectives.

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Wednesday, October 07


News

Job losses in Scotland slowed in September

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There were reports that some companies had resumed hiring as firms reopened and expanded their capacity following an easing of Covid-19 lockdown measures. According to panellists, redundancies linked to the coronavirus pandemic and subsequent lockdown measures had led to greater numbers of people looking for work. As has been the case in each month since April, the availability of temporary workers in Scotland rose during September. Sebastian Burnside, chief economist at Royal Bank of Scotland, said: “September survey data highlighted a slightly improved picture for the Scottish labour market. “Permanent placements declined at a much softer rate, whilst temporary billings returned to growth and expanded at the quickest pace for a year.

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Options Appoints Former RBS and MasterCard Executive Terry Hughes as New SVP of Marketing

RBS

Options, the leading provider of cloud-enabled managed services to the global capital markets, has today announced that former RBS and MasterCard executive, Terry Hughes, has been appointed as the firm’s new SVP of Marketing. With over 20 years’ experience, working across multiple business development, customer engagement and management consultancy roles, Terry is an internationally experienced business marketing leader, holding management roles within the Defence, Pharmaceutical and Financial Services Industries. Prior to Options, Terry was CMO for SeeMeHired, where she was responsible for the creation, planning and development of the firm’s candidate acquisition strategy, as well as holding a variety of consultancy, corporate governance, mentorship and business operations roles. "At Options, it has always been our mission to attract the highest calibre talent, and as an international marketing leader and mentor, Terry brings a wealth of experience and expertise to the Options executive team. We are delighted to welcome her on board." Speaking about her recent appointment, Terry added: "Options has experienced transformational growth in recent years, and I’m delighted to be joining at a key time in this continued expansion. I've watched Options from the sidelines, and I’m excited to bring my experience and expertise to this dynamic and forward-thinking company."

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NatWest in new Libor transition push as COVID-19 slows customer switch over

RBS

NatWest in new Libor transition push as COVID-19 slows customer switch over. LONDON (Reuters) - Britain's NatWest Group <NWG.L> has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to alternatives. The lender is writing to 3,500 companies to explain how delays in switching could increase the volatility of their borrowing costs and how to choose the most suitable new benchmark before Libor disappears at the end of 2021. Global regulators are sticking to the current end-2021 deadline for scrapping Libor, which is embedded in up to $340 trillion worth of financial contracts worldwide. But some borrowers remain slow to adopt rates such as Sonia, the sterling overnight index average, as they only show the interest due on a loan just before a payment is due. Some companies are still structuring Libor loans that include clauses to switch to another rate at the end of 2021, while others are choosing base rate products, said Jamie Thrower, Libor transition lead for NatWest customers with more than 6.5 million pounds in revenues.

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Tuesday, September 29


News

Edinburgh firm aims to eliminate food waste with help from Royal Bank of Scotland

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On the first ever International Day of Awareness of Food Loss and Waste, Royal Bank of Scotland has shared news from one of its Entrepreneur Accelerator cohorts, IntelliDigest, which is pioneering the elimination of food waste through the promotion of a circular economy. Royal Bank of Scotland’s 18-month Entrepreneurial Accelerator programme provides business support such as one-to-ones and networking opportunities. The firm was also financially supported through Royal Bank of Scotland’s Back Her Business fund-matching scheme, which provided an additional £10,000 towards funds raised by the company. Royal Bank of Scotland accelerator manager Matthew Teague added: “Dr Kanu developed an innovative, sustainable business which drew our attention, but ultimately, her mindset, drive, and enthusiasm were key to her enrolment.

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NatWest Protects Customers with Malwarebytes Premium

RBS

SANTA CLARA, Calif., Sept. 28, 2020 /PRNewswire/ -- MalwarebytesTM, a leading provider of advanced endpoint protection and remediation solutions, today announced that it was selected by NatWest Group to deliver premium cybersecurity security solutions to the bank's consumer and business banking customers worldwide. NatWest Group customers will now be able get a free license to install Malwarebytes Premium to protect their digital experiences from within their Online Banking portal. "Providing digital protection, productivity, and peace of mind to customers is increasingly critical for companies and consumers as the threat landscape continues to rapidly evolve," said Marcin Kleczynski, CEO of Malwarebytes. "Malwarebytes has been a champion of security since our inception and we're thrilled to be able to partner with innovative, socially responsible organizations like NatWest Group who are going above and beyond to ensure the safety of their customers."

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Tuesday, September 22


News

NatWest CEO says already preparing for "hypothetical" negative rates

RBS

LONDON, Sept 22 (Reuters) - NatWest Group Chief Executive Alison Rose said she was already thinking about how to prepare the state-baked lender for negative rates, although she still believed the monetary policy remained "hypothetical" for now. Earlier on Tuesday, Bank of England Governor Andrew Bailey stressed that last week's monetary policy statement was not a hint that the BoE would implement a negative Bank Rate but that the BoE needed to know how to implement it. The Bank of Japan and the European Central Bank have cut rates below zero to deter banks from parking cash at the central banks and instead lend it out to boost growth. With new UK lockdown measures set to be unveiled by Prime Minister Boris Johnson later on Tuesday, Rose said NatWest had been "very thoughtful and considered" about the level and nature of risk on its personal, mortgage and commercial books and the forecasting of impairments on each going forward.

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Thursday, September 10


News

Scotland sees hundreds 'gather' to shape more ethical financial future

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A global summit convened virtually from Scotland will next month bring together hundreds of professionals in an effort to build a more ethical finance system. The key focus of Ethical Finance 2020 will be on delivering a green recovery post-pandemic and “seizing the opportunities” of COP26 in Scotland. The summit is being staged over four days from 5 to 8 October by the Edinburgh-based Global Ethical Finance Initiative (GEFI) in conjunction with the Scottish Government and the United Nations Development Programme. Speakers set to participate include filmmaker and campaigner Richard Curtis, Royal Bank of Scotland parent NatWest Group chief executive Alison Rose and outgoing Standard Life Aberdeen chief executive Keith Skeoch.

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News

NatWest taps 5 billion pounds in Bank of England COVID funds

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NatWest taps 5 billion pounds in Bank of England COVID funds. LONDON (Reuters) - State-backed bank NatWest Group tapped 5 billion pounds from a Bank of England fund set up to support lending to struggling small businesses in the pandemic, BoE data on Thursday showed. NatWest has been the biggest user of the so-called 'TFSME' scheme so far, which has extended 14.3 billion pounds of cheap funding to lenders near the rock bottom BoE interest rate of 0.1%. Relative minnow the Coventry Building Society has drawn 1.5 billion pounds from the scheme, while Britain's biggest domestic bank Lloyds has drawn only 1 billion pounds so far.

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Ulster Bank plans to cut 266 jobs to reduce costs · TheJournal.ie

RBS

ULSTER BANK HAS has confirmed that it plans to cut 266 jobs on the island in a bid to rein in costs. It is understood that some 216 jobs are to be shed in the Republic and 53 in the North. Some 57 new roles will also be created, 29 in the south and 28 in the North. Commenting, a spokesperson for the bank said, “We have announced the next phase of our programme to reduce our costs which includes operational changes and a reduction of 266 roles, which we aim to achieve on a voluntary redundancy basis, where possible. In July, FSU general secretary John O’Connell told TheJournal.ie that“most of the banks” including Ulster Bank, “agreed with us that it was ‘all hands to the pump’, and that this wasn’t the time for redundancies”.

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