Royal Bank of Scotland Posts First-Quarter Profit; We Still Expect Full-Year Loss
No-moat Royal Bank of Scotland posted a GBP 259 million net income versus a loss of GBP 968 million a year ago, which is its first profit since the third quarter of 2015, thanks to higher revenue, lower impairment charges, higher trading income, and somewhat stable costs. Overall, total revenue was up 5%, thanks to a 4% increase in net interest income generation and a sharp jump in trading income, versus last year's results. Fee growth, however, lacked momentum and decreased 7%. While operationa...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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