Bankers at Royal Bank of Scotland (RBS) admitted they were selling “total f*cking garbage” to investors and made light of destroying the housing market in the lead-up to the financial crisis, damning documents released by US authorities show.
Royal Bank of Scotland, which is the parent company of Ulster Bank, is to separate its retail operations from its higher-risk businesses in a major overhaul to meet new ring-fencing rules in the UK, which also means the RBS brand will only be used in Scotland.
Royal Bank of Scotland (RBS) and Lloyds Banking Group are the two major UK lenders most exposed to the commercial real estate market, which poses a risk for banks after asset managers froze withdrawals from property funds, according to analysts.
Royal Bank of Scotland —owner of Ulster Bank — reported a sharp rise in losses in the first quarter yesterday and cautioned on the timing of a return to dividend payouts as lower income, restructuring costs, and sluggish asset sales underscored the challenges still facing the lender.
Royal Bank of Scotland — the parent of Ulster Bank — will sound out potential buyers for Williams & Glyn after receiving a number of approaches while continuing preparations for an initial public offering of the consumer bank.