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NYA:RBS, Feb 21, 08:18 UTC

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Friday, February 14


News

Royal Bank of Scotland to rebrand bank as NatWest Group later this year

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Royal Bank of Scotland to rebrand bank as NatWest Group later this year By Bloomberg | London | Last Updated at February 15 2020 02:01 IST. A worker cleans the glass exterior next to the logo of RBS (Royal Bank of Scotland) bank at a building in Gurugram on the outskirts of New Delhi, India. Royal Bank of Scotland Group ’s new boss, Alison Rose, is abandoning the bank’s three-century-old name and slashing its markets business as the state-controlled lender steps away from its tumultuous past. RBS will be renamed NatWest Group later this year, adopting the brand of the English branch network it’s used since a merger that reshaped British banking two decades ago.

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News

Bank and health stocks push markets lower

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A mix of healthcare and bank stocks pulled the FTSE 100 lower as it finished the week with a whimper, dipping below last Friday’s close. The hospital builder is in the middle of a share ownership crisis, while shareholders in the bank failed to be impressed by a big jump in pre-tax profits, or distracted by its rebrand. Bosses said the move was because 80% of customers bank with the NatWest brand, rather than through RBS branches, adding that it will have no impact on customers or staff. While RBS shares were hit by the bank’s news, shares in Mike Ashley’s Frasers Group – formerly Sports Direct – were totally unmoved by the announcement that it would join peers to lobby the Government on business rates. The biggest fallers on the FTSE 100 were Royal Bank of Scotland, down 15.6p to 213.10p, NMC Healthcare, down 43.2p to 775.00p, AstraZeneca, down 326p to 7,300p, BAE Systems, down 18.6p to 643.20p, and Lloyds, down 1.42p to 56.61p.

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Royal Bank of Scotland needs to overhaul its behaviour – not just its name

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A rose by another name would smell as sweet,” argued Shakespeare. But is it true of company names? It’ll still be the same bank, even if the brass plate changes on its lavish Gogarburn headquarters. It won’t erase the memories of distress of those millions of customers caught up in the bank’s 2012 IT meltdown. Some will dismiss the move as a resurgence of the nonsense, peddled by overpaid consultants, about the transformative power of a renaming or rebranding. The failures stick in the mind more than the successes, with the Royal Mail’s rechristening as Consignia in 2001 (soon dropped) the nadir. Yet names do matter in business.

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Royal Bank of Scotland tumbles in London as target cut overshadows a rebrand

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In an otherwise lackluster session of trading in London, shares of the bank RBS+0.51%UK:RBS-8.44% slumped more than 6% amid a barrage of news that included a rebranding effort and a green-friendly investment move. “Not even the combination of a name change to NatWest Group, a meaty increase in the dividend and a laudable attempt to do its bit for the move toward a carbon-zero world can conceal how Royal Bank of Scotland’s profit outlook for is a cautious one as the bank joins rival Barclays in pushing back when it hopes to meet its long-term profit goals,” said Russ Mould, AJ Bell investment director, in a note to clients. “RBS had already abandoned the 15% return on tangible equity target laid down by then-CEO Stephen Hester back in 2009 and had been aiming for 12% under Ross McEwan. But new boss Alison Rose has revised this figure to a range of 9% to 11% by 2021, thanks in part to regulatory pressures and costs associated with the downsizing of its investment bank,” added Mould. The FTSE 100 index UK:UKX-0.04% was barely higher at 7,461.94, after a 1% slump on Thursday as the pound and bond yields shot higher after the surprising resignation of Sajid Javid as Chancellor of the Exchequer.

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Royal Bank of Scotland to be renamed after 293 years

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Bosses said the move was because 80% of customers bank with the NatWest brand, rather than through RBS branches, adding that it will have no impact on customers or staff. He added the registered office will remain in Edinburgh, with no plans for “unscrewing any brass plaques at this point”. Although a second independence referendum in Scotland could change this, he said. The results were boosted by the merger of Alawwal Bank and the Saudi British Bank, in which RBS had a stake, but was knocked by an extra £900 million in PPI payments. She also unveiled plans to overhaul RBS’s NatWest Markets investment banking business to reduce any risky assets on its balance sheet, with plans to cut it from £35 billion to £20 billion.

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LONDON BRIEFING: Royal Bank Of Scotland To Become...

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(Alliance News) - Royal Bank of Scotland Group is to become NatWest Group, the UK state-backed ... (Alliance News) - Royal Bank of Scotland Group is to become NatWest Group, the UK state-backed lender said Friday, as it reported profit and net interest income for 2019 that beat expectations. In 2017, when RBS reported its second profit in a decade, the figure was GBP1.62 million. Net interest income for 2019 was down 7.0% year on year at GBP8.05 billion from GBP8.66 billion, but outperformed against GBP8.02 billion consensus. Pretax profit fell to USD1.55 billion in 2019 from USD1.99 billion a year earlier, despite revenue rising to USD24.38 billion from USD22.09 billion. Astra's profit was hurt by increased research & development costs and selling, general and administrative expenses.

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Tuesday, February 11


News

Latest Company News for Royal Bank Of Scotland Group

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The UK's benchmark FTSE 100 index reversed early morning declines during the day to as investors pushed share prices higher following the Queen's speech, which repeated Boris Johnson's 'get Brexit... FTSE 100 rallies into 'get Brexit done' Queen's speech, reversing earlier decline. The Royal Bank of Scotland Group (RBS) and its subsidiaries Natwest Markets Plc (NWM) and Natwest Markets N.V. (NWM N.V.) announced that Chris Marks and Richard Place have stepped down as chief... The Royal Bank of Scotland Group has reported an operating loss before tax of £8m in the third quarter of 2019, including a £900m provision in respect of Payment Protection Insurance (PPI). Barclays Capital today downgrades its investment rating on Royal Bank of Scotland Group (The) PLC (LON:RBS) to equal weight (from overweight) and cut its price target to 225p (from 250p).

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Thursday, February 06


News

Why has Facebook blocked economist’s post about benefits of Union to Scotland? – John McLellan

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Why has Facebook blocked economist’s post about benefits of Union to Scotland? Facebook blocks a perfectly reasonable post by an economist about the economic effects of the Union; Edinburgh may become expensive as London; and yet another tram-related consultation looms, writes John McLellan. For all the bile that’s available on Facebook, it’s bizarre and a little bit worrying that such a powerful social media platform can block a perfectly reasonable and rational post by Edinburgh economist Kevin Hague, apparently because of complaints from separatists. Mr Hague’s “crime” appears simply to be his effectiveness at showing how much economic benefit Scotland gains from being part of the Union, using nothing more offensive than neat graphics and some well-turned phrases. New analysis from the Royal Bank of Scotland shows the short answer is Edinburgh, with the capital estimated to have nearly 40 per cent of Scotland’s potential economic growth over the next decade, fired by a growing number of highly qualified working-age people, while retiring people move elsewhere to downsize affordably.

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Monday, February 03


News

How secure is the Royal Bank Of Scotland (LON:RBS) dividend payment?

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There is some evidence that buying progressive dividend payers with solid balance sheets is a strategy well-rewarded by the market. A reputation as a dependable dividend payer takes years to forge and, once created, is a valuable way for a company to signal its long-term profitability to the market and prospective shareholders. This is why, when it comes to dividend-paying companies such as large cap Banks operator Royal Bank Of Scotland (LON:RBS), which yields 2.52%, it is useful to check how well these payments are covered by earnings. Take a look and see if any of the qualifying stocks might be worthy of further research. As for Royal Bank Of Scotland (LON:RBS), you can find a wealth of financial data on the group's StockReport, including information on the group's past and forecast dividend payments. If you’d like to discover more about dividend investing, you can read our free ebook: How to Make Money in Dividend Stocks.

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Friday, January 31


News

Full list of 56 Lloyds, Halifax and Royal Bank of Scotland closures - Wales Online

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By clicking “Accept” below, you agree to us doing so. You can read more in our cookie notice. Or, if you do not agree, you can click Manage below to access other choices. If you choose not to, you will still see adverts on our site, because they help us to fund it, but those adverts will not be tailored to you. 56 more High Street bank branches are set to close in the coming months as Lloyds Banking Group revealed closure plans. A Lloyds Banking Group spokesman said: "We are committed to having the largest branch network in the UK and, in addition to our branches, all our customers can also use the Post Office to access their banking locally, alongside our mobile branches which visit many rural communities.

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