RBS' 2016 Net Loss Deepens: Litigation, Conduct, Restructuring Costs Continue to Burden Profits
Royal Bank of Scotland posted a loss of GBP 7 billion for 2016, a significant increase from 2015’s loss of GBP 2 billion. The higher loss was mainly fueled by higher litigation and conduct provisions that the bank set aside during year, which increased to GBP 5.9 billion from GBP 3.6 billion in 2015. Following the full-year results, we maintain our GBX 275 fair value estimate and no-moat rating.ÂTotal conduct costs included GBP 3.1 billion for the U.S. residential mortgage-backed securities cas...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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