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Ash4781

Rbs Numbers

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Just on the radio RBS released either interims or finals. They didnt sound like good numbers! More losses. Relentless.

Please someone add a link.

Edited by Ash4781

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Just on the radio RBS released either interims or finals. They didnt sound like good numbers! More losses. Relentless.

Please someone add a link.

Bloody public sector bleeding us dry.

Still house prices are shooting up, we are all saved....

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http://www.bbc.co.uk/news/uk-england-26364715

Royal Bank of Scotland (RBS) has reported its sixth annual loss since it was rescued by the UK government in 2008.

The bank's pre-tax loss for 2013 was £8.2bn.

However, excluding bad bank and legacy costs, RBS made an operating profit of £2.5bn.

It won't be paying any tax for years at this rate.

So this figure is about what the UK spends in a month it doesn't raise in taxes?

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Bloody public sector bleeding us dry.

Still house prices are shooting up, we are all saved....

Well, RBS and Northern Rock were. Both would have (and should have) sunk without trace had they been forced to realise the losses which remain, camouflaged by artificially high house prices, on their balance sheets.

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thanks

3.2bn on consultants. I wonder what is buried in there?

No real secrets i imagine. Just the usual suspects. The place is rammed full of them.

They charge about 2k per day for a basic analyst. Its not difficult to see how this could add up to billions over a year

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Linky

Royal Bank of Scotland has lost all the money invested in it by the taxpayer six years ago when the lender came close to collapse.

The bank has confirmed its total losses since its bailout have now drawn level with the £46bn pumped into it in 2008 in return for an 81pc stake.

RBS made a loss last year of £8.2bn, its sixth consecutive annual loss, taking its cumulative losses to £46bn.

It wasn't all that long ago that I was reading an article saying that the taxpayer was almost in profit from the bailout. Maybe other banks have had better luck than RBS and upped the total but I would not bet on it.

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Well, RBS and Northern Rock were. Both would have (and should have) sunk without trace had they been forced to realise the losses which remain, camouflaged by artificially high house prices, on their balance sheets.

I often wonder about this. Obviously northern rock were very skewed toward mortgages but dies anyone know what percent of a typical bank's (if there is such a thing) balance sheet is made up of mortgages. I suspect that for hsbs or Barclays, say, they're diversified enough that a big fall in property, in isolation, wouldn't kill them.

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3.2bn on consultants. I wonder what is buried in there?

Nice work if you can get it I suppose.

Banker to consultant - OK, we'd like to consult with you regarding the state of the business, and the implications for us going forward.

Consultant to banker - No problem. The business is toast. Fire sale required. I'd recommend you keep paying big bonuses and pensions to the 'talent' - they're going to need cheering up with the mass firings going on around them. No major implications for you going forward though as the taxpayers will pick up the bill.

Banker to consultant - Phew! Thanks.

Consultant to banker - No problem. That'll be fifty thousand pounds.

Banker to consultant - Cool. Is a Government IOU OK?

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All these huge losses, year on year, yet, I dont recall seeing them actually asking for cash.

How on Earth do they keep the cash flowing?....they are either incredibly stretched or we are subbing them by the minute.

And if whoever is subbing them is charging them interest, they will NEVER get to real profitability.

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Heard them discussing this on radio 5 early this morning.

Commentators blaming Brown/Darling.....said they should of let RBS go down and compensate savers, and it would of saved us a packet. (too true!)

Also talk of more redundancies and maybe closing down their investment business overseas. (US? I think they said, I was just waking up).

Anyone know the extent of business they have overseas?

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Nice work if you can get it I suppose.

Banker to consultant - OK, we'd like to consult with you regarding the state of the business, and the implications for us going forward.

Consultant to banker - No problem. The business is toast. Fire sale required. I'd recommend you keep paying big bonuses and pensions to the 'talent' - they're going to need cheering up with the mass firings going on around them. No major implications for you going forward though as the taxpayers will pick up the bill.

Banker to consultant - Phew! Thanks.

Consultant to banker - No problem. That'll be fifty thousand pounds.

Banker to consultant - Cool. Is a Government IOU OK?

I guess the consultants could be former employees? Perfectly legal and goes on across all sectors.

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All these huge losses, year on year, yet, I dont recall seeing them actually asking for cash.

How on Earth do they keep the cash flowing?....they are either incredibly stretched or we are subbing them by the minute.

And if whoever is subbing them is charging them interest, they will NEVER get to real profitability.

You would need to drill down into the ons public finance numbers including 'temporary' financial interventions but ultimately comes from the boe data I think?

Edited by Ash4781

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Heard them discussing this on radio 5 early this morning.

Commentators blaming Brown/Darling.....said they should of let RBS go down and compensate savers, and it would of saved us a packet. (too true!)

Also talk of more redundancies and maybe closing down their investment business overseas. (US? I think they said, I was just waking up).

Anyone know the extent of business they have overseas?

Up to £35K per person, the limit of the FSA guarantee then in force, above that there should have been no compensation.

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http://www.bbc.co.uk/news/uk-england-26364715

Losses: £8.2 billion.

Bonus pool : £576 million, (£237 million to investment bankers).

Money spent on 'keeping a straight face' consultants: £3.2 billion.

Good to see that the tradition of banksters filling their boots at the expense of the 'shareholders' continues whether the shares are in private or public hands.

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It wasn't all that long ago that I was reading an article saying that the taxpayer was almost in profit from the bailout. Maybe other banks have had better luck than RBS and upped the total but I would not bet on it.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10664372/RBS-has-lost-all-the-46bn-pumped-in-by-the-taxpayer.html

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

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Up to £35K per person, the limit of the FSA guarantee then in force, above that there should have been no compensation.

I wonder how many of Labour MP's had savings in RBS at the time of nationalisation? Would there be many with pots larger than £35k?

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Heard them discussing this on radio 5 early this morning.

Commentators blaming Brown/Darling.....said they should of let RBS go down and compensate savers, and it would of saved us a packet. (too true!)

Also talk of more redundancies and maybe closing down their investment business overseas. (US? I think they said, I was just waking up).

Anyone know the extent of business they have overseas?

Good, it will be interesting to see him wriggling, might destroy some of his credibility on staying in the union? His smugness regarding the bailouts has been annoying over the years.

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