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...
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