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On Monday, 19 January 2009, a date previously known as Blue Monday, British banking shares collapsed in a rout of selling after Royal Bank of Scotland (RBS) announced the biggest corporate losses in British history. The shares fell over 67% in a single day. Shares in all other British banks suffered heavy losses.
Royal Bank of Scotland on Friday said deteriorating economic conditions before Brexit were likely to derail next year's profitability and cost targets after it reported strong first-half results ...
82 percent of Royal Bank of Scotland's shares were acquired by the UK government as part of the 2008 United Kingdom bank rescue package. The UK Government bought Royal Bank of Scotland stock for £42 billion, representing 50 pence per share. In 2011, the shares were worth 19 pence, representing a taxpayer book loss of £26 billion.
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The same month, Royal Bank of Scotland launched a £12 billion rights issue to supplement its equity capital. In September 2008, the US government launched bail-out rescues of the US mortgage lenders Fannie Mae ( Federal National Mortgage Association ) and Freddie Mac ( Federal Home Loan Mortgage Corporation ).
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LONDON -- Many investors focus on earnings per share when judging a company's performance. However, earnings can be manipulated and adjusted in all sorts of ways, meaning they don't tell you a lot ...
In 1988, Royal Bank of Scotland Group acquired Citizens. [11] Under RBS ownership, Citizens acquired several smaller banks in New England to become the second largest bank in the region. In 1996, in conjunction with the acquisition of First NH Bank , the Bank of Ireland gained a 23.5% stake in Citizens, which RBS then acquired two years later ...