Banking success stories; RBS

[mos]

RBS has lost all the £46bn pumped in by the taxpayer - Telegraph

I always wondered how the Losses to taxpayers reported in the media account for the disposal of most successful businesses once owned by RBS, such as Worldpay and Direct Line.

[tarbera]

From the top

Where did you hear that from?

250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office

Keep your phone on tonight

[doodab]

I always wondered how the Losses to taxpayers reported in the media account for the disposal of most successful businesses once owned by RBS, such as Worldpay and Direct Line.

They needed to sell those to raise money to cover the losses and meet more stringent capital requirements.

[MyUserName]

250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office

Keep your phone on tonight

Yes, but who told you?

[MyUserName]

250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office

Keep your phone on tonight

Did this happen?

[lukemg]

As usual, headline conceals a completely different picture. Yes, the bank was and is in the brown stuff.
Underlying profits are quite healthy at around 2.5bn but right-downs for bad debts + PPI account for the big negative figure.
I am surprised they didn't ringfence the bad stuff to give the good stuff half a chance but they decided not to.
So, how can I make money from this ?
Easy - buy up the direct line shares when they were forced to sell it cheap, 2k profit so far.
Buy RBS ? no, already overweight financials plus think the right time was a while ago.
FWIW I predict the gvmt/us will get all the money back that was invested (although not the opportunity cost if we had put it elsewhere). Its just a matter of when.
GLA

[AtW]

As usual, headline conceals a completely different picture. Yes, the bank was and is in the brown stuff. Underlying profits are quite healthy at around 2.5bn but right-downs for bad debts + PPI account for the big negative figure.

Yeah, but in 10 years they might have to be declaring massive losses for the "profits" they are making now... that's what happened with PPI, derivatives and other tulip they used to make a quick buck.

[SunnyInHades]

Yep and I am thinking of moving away from RBS as well.

Everyone and his wife South of the border with an account managed by RBS (RBS, NatWest, Ulster, Drummonds, Coutts) will probably be doing that if Scottish independence gets the nod.

[d000hg]

250 getting chopped tomorrow, agents have been informed to call some tonight to not come back into the office

Keep your phone on tonight

Or leave it off so you can get an extra day's billing.

[Bunk]

Well, the naive answer is yes, £50k paid to all retail customers with RBS accounts probably would be less than £46 billion.

You have to factor in that RBS had £2.4bn of assets and a similar amount of liabilities.

Trillion shirley?