High Liquidity Requirement and Litigation Provisions Hurt 2Q Profits for RBS; DoJ Settlement Reached
The release of uncertainty around the U.S. Department of Justice settlement case related to missold residential mortgage-backed securities and a planned interim dividend of GBX 2 per share outweighed the Royal Bank of Scotland's uninspiring operational performance in the second quarter of 2018. The civil settlement reached in principle with the DoJ requires RBS to pay GBP 3.7 billion, which falls into our expected range of GBP 3 billion-GBP 4 billion. Additionally, RBS is looking to increase the...Royal Bank of Scotland Group is a banking and financial services company. Co.'s activities are organized in franchise basis; Personal and Business Banking (PBB) comprising UK PBB and Ulster Bank RoI segment, which serve individuals and small businesses in the U.K. and the Republic of Ireland; Commercial & Private Banking comprising, Commercial Banking and Private Banking segment, which serve commercial, corporate and private banking in the U.K. and Western Europe; RBS International, which serves retail, commercial and financial institution in Jersey, Luxembourg and London; and NatWest Markets, which provides risk management and financing solutions through its trading and sales operations.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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