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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Royal Bank of Scotland Group    RBS   GB00B7T77214

ROYAL BANK OF SCOTLAND GROUP

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Royal Bank of Scotland Group plc : RBS suspends FX trader, bringing total to three

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02/19/2014 | 07:53am EDT
A sign is seen outside a Royal Bank of Scotland building in central London

LONDON (Reuters) - Royal Bank of Scotland has suspended a senior currency trader in London, bringing to three the number of traders suspended by the bank since a global investigation into allegations of rigging reference exchange rates was launched last year.

Ian Drysdale was put on leave earlier this week and has now been suspended, a source familiar with the matter said.

This follows the suspension of Julian Munson and Paul Nash in October last year.

RBS declined to comment, and Drysdale could not be reached for comment.

On Tuesday RBS said it was reviewing rules on currency dealers trading with their own money.

The global probe into online communications between traders and allegations of manipulating benchmark currency rates known as "fixings" has seen more than 20 traders at many of the world's biggest banks put on leave, suspended or fired.

The Bank of England, Britain's Financial Conduct Authority (FCA) and the U.S. Federal Reserve and Department of Justice are among those looking into the allegations of wrongdoing in the $5.3 trillion-a-day global FX market, the world's biggest market.

The FCA's chief executive Martin Wheatley has said the allegations are "every bit as bad" as those made in the interest rate-rigging scandal centring on the London Interbank Offered Rate, or Libor, which has already resulted in banks paying $6 billion (3 billion pounds) in fines and settlements.

Benchmark currency fixings are a cornerstone of global financial markets, used to price trillions of dollars worth of investments and deals and relied upon by companies, investors and central banks.

(Reporting by Jamie McGeever; Editing by Greg Mahlich)

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Financials (GBP)
Sales 2019 12 714 M
EBIT 2019 5 731 M
Net income 2019 2 828 M
Debt 2019 -
Yield 2019 6,95%
P/E ratio 2019 9,75x
P/E ratio 2020 8,15x
Capi. / Sales2019 2,17x
Capi. / Sales2020 2,14x
Capitalization 27 634 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 275,71  GBp
Last Close Price 229,00  GBp
Spread / Highest target 107%
Spread / Average Target 20,4%
Spread / Lowest Target -30,2%
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Ross Maxwell McEwan Chief Executive Officer & Executive Director
Howard John Davies Chairman
Mark Bailie Chief Operating Officer
Katie Murray Chief Financial Officer & Executive Director
Brendan R. Nelson Independent Non-Executive Director
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