Share on StockTwits
 

Royal Bank of Scotland’s latest 3 billion pound hit for past misdeeds will leave the state-backed bank low on capital, potentially pushing new boss Ross McEwan to speed up a sale of its Citizens banking business in the United States. RBS, 82 percent owned by the UK government, revealed the new provisions in a profit warning rushed out on Monday, which is likely to leave the bank with a 7- 8 billion pound loss for 2013. The bank was already planning a partial flotation of Citizens this year and to sell the entire business by the end of 2016. Analysts value it between $9 billion and $15 billion.

“Latest RBS Hit May Speed Up Sale Of U.S. Arm Citizens” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.