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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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UK Watchdog Asks Lenders to Offer Relief to Loan, Credit Card Customers

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04/02/2020 | 04:02am EDT

By Sabela Ojea

 

The Financial Conduct Authority said Thursday that it is proposing a number of measures aimed at offering relief to loan and credit card customers during the coronavirus pandemic.

The British financial regulator said that it will support customers hit by the pandemic through a short-term package for a period of up to three months, asking lenders to offer a temporary payment freeze on loans and credit cards to those who are struggling.

Lenders should offer up to 500 pounds ($619.20) at zero interest to overdraft customers at their personal accounts, the FCA said, adding that firms will also have to make sure customers aren't charged more than they would have been before the recent overdraft changes came into force.

The financial regulator noted that "coronavirus has caused an unprecedented financial shock with far-reaching consequences for consumers," and added that these measures are planned to come into force on April 9 after a brief consultation.

"If confirmed, this package of measures we are proposing today will help provide affected consumers with the temporary financial support they need to help them weather the storm during this challenging time," the British watchdog said, adding that firms can offer more generous assistance to their customers.

 

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

 

Stocks mentioned in the article
ChangeLast1st jan.
BANCO SANTANDER, S.A. 3.19% 2.2325 End-of-day quote.-40.15%
BARCLAYS PLC 4.87% 125.32 Delayed Quote.-30.24%
HSBC HOLDINGS PLC 4.42% 401.8 Delayed Quote.-32.12%
LLOYDS BANKING GROUP PLC 5.73% 33.76 Delayed Quote.-45.98%
THE ROYAL BANK OF SCOTLAND GROUP PLC 4.11% 125.5 Delayed Quote.-47.77%
VIRGIN MONEY UK PLC 8.76% 102.5 Delayed Quote.-45.64%
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Financials
Sales 2020 10 932 M 13 722 M 13 722 M
Net income 2020 -576 M -723 M -723 M
Net Debt 2020 - - -
P/E ratio 2020 -27,1x
Yield 2020 4,10%
Capitalization 15 157 M 19 097 M 19 024 M
EV / Sales 2019
Capi. / Sales 2020 1,39x
Nbr of Employees 63 200
Free-Float 37,8%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 161,60 GBp
Last Close Price 125,50 GBp
Spread / Highest target 221%
Spread / Average Target 28,8%
Spread / Lowest Target -33,7%
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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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