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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)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 02/19 11:30:00 am
205.9 GBp   -0.48%
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Royal Bank of Scotland : Increased 4Q Pretax Profit, Scales Back Returns Target

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02/14/2020 | 02:45am EST

By Sabela Ojea

 

Royal Bank of Scotland Group PLC on Friday reported an increased profit for the fourth quarter of 2019 but trimmed its medium-term returns target.

The majority-state-owned bank made a quarterly pretax profit of GBP1.55 billion compared with GBP572 million for the same period a year earlier.

Net profit came to GBP1.41 billion in the quarter from GBP286 million, it added, while net profit for the year reached GBP3.13 billion from GBP1.62 billion in 2018.

Pretax profit for the year rose to GBP4.23 billion from GBP3.36 billion pounds in the year-earlier period. Analysts had forecast a pretax profit of GBP4.07 billion, taken from FactSet and based on 15 analysts' estimates.

The London-listed lender booked a 900 million pound ($1.16 billion) provision in the third quarter of the year to cover payment protection insurance costs following the late surge in claims ahead of the August deadline.

Total income for the quarter rose to GBP4.23 billion compared with GBP3.06 billion in the fourth quarter of 2018. Income for the year came to GBP14.25 billion from GBP13.40 billion, largely surpassing market forecasts of GBP12.14 billion, taken from FactSet and based on 16 analysts' estimates.

RBS said it expects its return on tangible to equity to be in the range of 9-11% in the medium to long term, having said in August it was unlikely to hit its targeted 12% RoTE in 2020.

The board has declared a final dividend of 3.0 pence, down from 3.5 pence a share, and a special dividend of 5.0 pence, down from a special dividend of 7.5 pence a share last year.

RBS's common equity Tier 1 capital ratio--a measure of a bank's financial strength--stood at 16.2% at Dec. 31.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

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Financials (GBP)
Sales 2020 11 950 M
EBIT 2020 5 085 M
Net income 2020 2 381 M
Debt 2020 -
Yield 2020 5,74%
P/E ratio 2020 12,6x
P/E ratio 2021 8,61x
Capi. / Sales2020 2,09x
Capi. / Sales2021 2,04x
Capitalization 24 987 M
Chart THE ROYAL BANK OF SCOTLAND GROUP PLC
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Technical analysis trends THE ROYAL BANK OF SCOTLAND
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 247,71  GBp
Last Close Price 206,90  GBp
Spread / Highest target 94,8%
Spread / Average Target 19,7%
Spread / Lowest Target -12,2%
EPS Revisions
Managers
NameTitle
Alison Marie Rose-Slade Chief Executive Officer
Howard John Davies Chairman
Mark Bailie Chief Operating Officer
Katie Murray Chief Financial Officer & Executive Director
Brendan R. Nelson Independent Non-Executive Director
Sector and Competitors