RBS profits plunge 59% as it sets aside $788 million to defend itself from the coronavirus pandemic
The bank also said it would set aside £802 million as impairment charges, with around £628 million related to what it called the "uncertain economic outlook," referring to the anticipated fallout from the coronavirus pandemic. and instead integrate its technology into Mettle — the digital bank for small and medium enterprises — while it is developed.
RBS said it would not undertake interim dividend payments or share buybacks until the end of 2020 and called attention to its concerns over uncertainty about the economy and how this position had "deteriorated sharply." The bank had slashed more than 130 jobs in its investment banking division during the coronavirus crisis, the
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank Q1 earnings: German lender posts 67% fall in profits - Business InsiderDeutsche Bank has had a challenging few years months including a restructuring and big losses. DB said it would be cutting 18,000 jobs last year.
Read more »
Tesla reports Q1 earnings after the bellThe Covid-19 outbreak in China forced Tesla to stop manufacturing electric vehicles in Shanghai for more than a week in February, and in the U.S. at the end of March.
Read more »
Spotify Sees Surge Of Streaming On TV, Game Consoles In Strong Q1Spotify shares jumped more than 12% Wednesday morning on stong quarterly numbers that showed a shift in listening patterns shifted solid subscriber growth last quarter amidst a global pandemic. The…
Read more »
Hasbro Undershoots Q1 Expectations, Citing COVID-19 And EOne Deal ImpactHasbro shares dipped in pre-market trading after the toy and entertainment company reported first-quarter results slightly below Wall Street expectations. Earnings swung to a loss of 51 cents a sha…
Read more »
Tesla rises as company ekes out a Q1 profitThe Covid-19 outbreak in China forced Tesla to stop manufacturing electric vehicles in Shanghai for more than a week in February, and in the U.S. at the end of March.
Read more »
Facebook Reaches 2.6B Users But Misses Q1 Profit Target On Pandemic Ad SlowdownFacebook topped Wall Street estimates for revenue in the first quarter with an 18% gain but missed targets for earnings per share. Total revenue came in at $17.7 billion, while earnings of $1.71 pe…
Read more »