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Branch staff at some of the UK’s biggest banks say they are being put at risk by rules that require them to keep their phones in lockers at work, leaving them unable to use the NHS Covid-19 contact tracing app. Lloyds and TSB are among the lenders advising employees in branch to deactivate the contact [...]
The chairman of Royal Bank of Scotland (RBS) has called on the Bank of England to lift curbs on dividends by the autumn to make lenders more attractive to investors. The BoE had told lenders in March to scrap buybacks and dividends until the end of 2020 to bolster their finances in the face of [...]
Royal Bank of Scotland (RBS) has given business customers another six months to switch their accounts to other banks under the terms of its financial crisis state aid package. RBS said fewer customers have used the Incentivised Switching Scheme to swap banks during the pandemic. As a result the deadline for switching applications will be [...]
The Royal Bank of Scotland (RBS) saw its profit nearly halve in the first quarter of 2020 due to the ongoing uncertainty caused by the coronavirus outbreak. Despite the fall, the bank insisted it was in a “strong positon” to deal with a significant economic downturn. Shares in the bank rose 1.6 per cent in [...]
As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors. What’s happening to dividends? The coronavirus crisis and oil price war are having a profound impact on economic growth and the cash position of companies. Many businesses in the most affected sectors [...]
Some of the largest banks in Britain have warned the coronavirus pandemic will hit their already under-pressure earnings, with a decline in economic activity eating into fee income. Lloyds will delay part of a £3bn technology investment programme in response to the coronavirus pandemic to maintain its capital levels, its chief executive said today, as [...]
Banking giant RBS is gearing up to hold a dramatically scaled-back physical annual general meeting (AGM) due to the coronavirus pandemic, with just core attendees present in person. RBS, like all listed companies with a financial year ending in December, has a legal obligation to hold a physical AGM by 30 June, with the meeting [...]
New Royal Bank of Scotland chief executive Alison Rose is to be based solely in London, even though the state-owned lender is headquartered in Edinburgh. Rose’s employment contrast lists RBS’s office on Bishopsgate as her sole place of work, the Sunday Times reported. Her predecessor, Ross McEwan, had a contract for London and Edinburgh. Rose, [...]
Royal Bank of Scotland (RBS) is reportedly considering axing thousands of jobs at Natwest as part of a series of cost-cutting measures. Under Alison Rose, who in November became the first woman to run RBS, executives are working on the so-called Project Tusk to slash costs at the state-owned lender. One of the measures being [...]
The chief executive of Bo, RBS’ digital banking platform, is one of a number of executives who will leave the company in the coming months as part of a reshuffle under new boss Alison Rose. Mark Bailie, who was considered a potential challenger to Rose before her appointment in the autumn, will step down just [...]
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