The British government on Wednesday announced plans to relaunch its sale of Royal Bank Scotland, which the taxpayer rescued at the height of the financial crisis.
The announcement, contained in Britain's annual budget, said "the government intends to recommence the privatisation of RBS" by March 2019 by selling about two-thirds of its 71-percent stake for roughly £15 billion ($19.9 billion,Read more
Royal Bank of Scotland said Friday that annual net losses more than trebled to £6.95 billion ($8.7 billion, 8.2 billion euros) in 2016 on litigation and restructuring costs.
RBS, bailed-out by the British government following the 2008 financial crisis, posted its ninth consecutive annual loss last year.
Its loss after tax for 2016 ballooned from a net loss of £1.98Read more
Britain’s plan to free Royal Bank of Scotland (RBS) from an obligation to sell more than 300 branches risks a clash with the European Commission (EC) weeks before the government is due to start formal talks to leave the trading bloc.
European regulators originally told RBS to sell the branches by 2013 to prevent the state-backed bank, Britain’s largest small-businessRead more