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

THE ROYAL BANK OF SCOTLAND GROUP PLC

(RBS)
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Barclays and RBS latest to hold 'empty room' AGMs

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04/03/2020 | 11:09am EDT
FILE PHOTO: The logo of Barclays is seen on the top of one of its branch in Madrid

British banks Barclays and RBS confirmed that shareholders will not be able to attend their annual general meetings in person due to coronavirus social distancing rules.

Barclays also switched its meeting from Glasgow to London, due to take place on May 7.

State-backed RBS said its AGM would go ahead as planned on April 29 in Edinburgh.

The banks have followed other big British financial firms such as Standard Life Aberdeen in banning in-person attendance at AGMs, complying with rules to prevent the spread of the coronavirus.

"Barclays very much regrets the need to impose this restriction on attendance as it regards the AGM as an important date in the company's corporate calendar," it said on Friday, adding that shareholders will be able to vote electronically.

Investors are due to vote on proposals to bind Barclays to tougher commitments on ending fossil fuel financing.

They will also vote on the bank's own version of the measures, which it announced in response to a motion by shareholders, which commit it to an 'ambition' to have net zero carbon emissions by 2050.

RBS said five employee shareholders would meet at its conference centre in Edinburgh to meet legal requirements and its own company rules, but that this would not include its CEO Alison Rose or Chairman Howard Davies.

Shareholders will be able to vote online or in advance by post, the bank said, and following the results of the AGM the bank will hold a virtual event the same day allowing shareholders to ask Rose and Davies questions.

"With the safety and wellbeing of our colleagues, customers and communities being our main priority during this coronavirus pandemic, we have taken the decision to hold our AGM in a different way to usual," an RBS spokeswoman said.

By Lawrence White and Iain Withers

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.58% 1421.37 Delayed Quote.6.12%
BARCLAYS PLC 8.85% 120.7 Delayed Quote.-38.33%
STANDARD LIFE ABERDEEN PLC 6.67% 265.8 Delayed Quote.-24.17%
THE ROYAL BANK OF SCOTLAND GROUP PLC 9.86% 123.6 Delayed Quote.-53.16%
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Financials (GBP)
Sales 2020 10 957 M
EBIT 2020 4 168 M
Net income 2020 -551 M
Debt 2020 -
Yield 2020 5,40%
P/E ratio 2020 -113x
P/E ratio 2021 9,29x
Capi. / Sales2020 1,24x
Capi. / Sales2021 1,21x
Capitalization 13 593 M
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Technical analysis trends THE ROYAL BANK OF SCOTLAND
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 169,96 GBp
Last Close Price 112,55 GBp
Spread / Highest target 258%
Spread / Average Target 51,0%
Spread / Lowest Target -26,1%
EPS Revisions
Managers
NameTitle
Alison Marie Rose-Slade Chief Executive Officer & Director
Howard John Davies Chairman
Katie Murray Chief Financial Officer & Executive Director
Sheila Valerie Noakes Independent Non-Executive Director
Robert Andrew Joseph Gillespie Independent Non-Executive Director
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