RBS tipped to cut 900 IT roles by union

Investors Launch £4bn Compensation Claim Against The Royal Bank Of Scotland

Royal Bank of Scotland is 71 per cent-owned by the government

Royal Bank of Scotland (RBS) is planning to cut 880 IT jobs at its London offices by 2020 the Unite Union has claimed.

02/07/2017 - Royal Bank of Scotland Group plc was upgraded to "hold" by analysts at Deutsche Bank. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.10 billion. Royal Bank Scotland PLC (The) now has a consensus rating of Hold and a consensus price target of $7.25.

7/19/2017 - Royal Bank of Scotland Group plc had its "neutral" rating reaffirmed by analysts at BNP Paribas. The stock's market cap is $40.38 billion. The company has a consensus rating of "Hold" and a consensus target price of GBX 246.84 ($3.20).

"Royal Bank of Scotland is continuing with its savage jobs culling program", said Rob MacGregor, Unite national officer. Cubist Systematic Strategies LLC acquired a new position in Royal Bank Scotland PLC (The) during the second quarter valued at about $102,000. Royal Bank Scotland PLC has a 52-week low of $4.18 and a 52-week high of $7.06. Quantum Capital Management bought a new stake in Royal Bank Scotland PLC (The) during the first quarter worth approximately $107,000. The stock has a 50 day moving average price of $6.67 and a 200-day moving average price of $6.35. J P Morgan Chase & Co raised Royal Bank of Scotland Group plc from an "underweight" rating to a "neutral" rating and upped their price target for the company from GBX 210 ($2.73) to GBX 230 ($2.99) in a research report on Wednesday, April 19th.

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Chancellor Philip Hammond told MPs in April that the government was not actively marketing its stake in the bank, adding: "We must live in the real world and make decisions on the future of our holding in RBS in the best interest of taxpayers".

Royal Bank of Scotland Group plc (LON:RBS) opened at 265.80 on Wednesday. Parametric Portfolio Associates LLC now owns 1,638,837 shares of the financial services provider's stock worth $10,702,000 after buying an additional 121,548 shares during the last quarter. Hedge funds and other institutional investors own 0.43% of the company's stock. The company, which owns NatWest and Ulster Bank, was fined £56m in 2014 by financial regulators for the outage.

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