Govt. put RBS at disadvantage by blocking its bonus plan: Standard Life

The UK Government's recent decision of blocking the bonus plan of Royal Bank of Scotland (RBS) would put the lender at a competitive disadvantage, a top Standard Life executive said.

David Cumming, the global head of equities at Standard Life, disapproved the government's move, saying it would weaken RBS' performance, reduce its value and consequently hurt taxpayers.

Govt. blocks RBS from paying huge bonuses

The British Government has blocked the Royal Bank of Scotland (RBS) from paying huge bonuses to its employees until the ongoing process of restructuring is complete.

RSA’s Revival May Come from Sell-Offs

Stephen Hester, new chief executive of Royal Bank of Scotland announced the sale of three businesses in the Baltic and one business in Poland to PZU the Polish group for an amount of £300million. Hester indicated that more sales could be expected in future as RSA decides to maintain its focus on the key markets.

RBS welcomes Clifford Chance report

Royal Bank of Scotland (RBS) has welcomed law firm Clifford Chance's report that states that the Edinburgh-based lender didn't deliberately defraud its business customers.

RBS on track for partial privatization next year: Sir Philip

Royal Bank of Scotland (RBS) is on track for a partial privatization sometime in 2014, the part-nationalized lender's chairman Sir Philip Hampton said.

The government has acquired 81 per cent stake in RBS after bailing it out at a cost of £45.5 billion at the peak of economic crisis in 2008.

Sir Philip stressed that returning of the government-owned lenders to private hands was crucial, and it should be done as soon as is practically possible.

Banks bounce back as blue-chips tread water

The result season has gained momentum and now all eyes turn to Lloyds and RBS. Next week these two part-nationalised banks will take their turn in the spotlight as they will announce their annual results.

Barclays has already announced its annual financial result and there has been hike in its net profit. It has said that the annual net profit of the firm has gone up by 32%.

Project Merlin to help learn from the past

Project Merlin, has been finally joined in by the four largest banks in UK. These are the HSBC, Barclays, RBS and Lloyds and the information was given by George Osborne to the House of the Commons.

If the project is able to rebuild the bank's relationship with the society, then its objective will be solved and that it is certainly going to be a good news. But there are stipulations in it that may make it unattractive.

RBS will be biggest loser from U.K.'s pay accord, analysts say

Royal Bank of Scotland Group Plc, the largest bank owned by the Government of U. K., is slated to be the lender that will be hit the most by yesterday’s deal with the Treasury for restricting the bonuses and encourage lending, according to analysts. At the end, it might be the British taxpayers who will have to bear the whole cost.

RBS has reduced the bonus amount for investment bankers by 27% to less than 950 million pounds ($1.5 billion), according to the lender bank that amounts to below 50% of the 2.2 billion pounds Barclays Plc had kept aside for bonuses by third quarter end.

Deal to privatise Britain’s search and rescue operations

As Royal Bank of Scotland (RBS) withdrew from Soteria consortium for privatising Britain's search and rescue operations, the Ministry of Defence Police are now investigating how the commercially sensitive information got into the hands of the bidder.

The £6billion helicopter contract information fell into the hands of the Royal Bank of Scotland-backed consortium bidding. The bidding was supposed to replace Britain's ageing fleet of Sea King helicopters for privatisation of Britain's search and rescue operations.

RBS, Lloyds managers defend structure of the banks

The managers of government stake in big banks like RBS and Lloyds have defended the structure of the banks and has shown its disregard for breaking them into separate entities of retail and investment arm.

Chairman of UK Financial Investments, Sir David Cooksey has argued and said that if these two banks are broken down then that would greatly destroy their value.

The institute is the one that handles government's shares to the lenders. He has clearly shown his rejection to the argument that calls for these units to be broken down into retail and investment.


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