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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Royal Bank of Scotland Group    RBS   GB00B7T77214

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Royal Bank of Scotland : RBS sells $270 million worth of Lombard loans to Investec and Shawbrook

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01/03/2018 | 04:52pm CET
FILE PHOTO: Royal Bank of Scotland signs are seen at a branch of the bank, in London

Britain's Royal Bank of Scotland (RBS) has sold offshore loans held by its Lombard Finance subsidiary to specialist lenders Investec and Shawbrook Bank, an Investec spokesman said on Wednesday.

State-backed RBS put around 200 million pounds worth of Channel Island assets up for sale in October in order to comply with new ring-fencing rules coming into force in 2019.

The rules require UK banks to separate retail operations from other riskier businesses such as investment banking to protect depositors money.

Together, Investec and Shawbrook will take over the loans, which were provided to businesses to buy assets such as machinery, ships or aircraft.

"This is part of our long-term strategy to increase the specialist finance services we can provide to our clients," the Investec spokesman said.

Sky News, which first reported the deal, said it was worth around 150 million pounds.

RBS declined to comment.

(Editing by Jason Neely and Elaine Hardcastle)

By Emma Rumney

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Financials ( GBP)
Sales 2017 12 889 M
EBIT 2017 4 418 M
Net income 2017 -530 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 15,75
Capi. / Sales 2017 2,76x
Capi. / Sales 2018 2,75x
Capitalization 35 571 M
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Royal Bank of Scotland Gro Technical Analysis Chart | RBS | GB00B7T77214 | 4-Traders
Technical analysis trends ROYAL BANK OF SCOTLAND GRO
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 22
Average target price 2,88  GBP
Spread / Average Target -3,2%
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NameTitle
Ross Maxwell McEwan Chief Executive Officer & Executive Director
Howard John Davies Chairman
Mark Bailie Chief Operating Officer
Ewen James Stevenson Chief Financial Officer & Executive Director
Sandy Crombie Senior Independent Non-Executive Director
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