https://www.scmp.com/rss/206265/feed Royal Bank of Scotland grew into one of the world’s biggest banking groups through aggressive acquisitions, but overstretched itself when it tried to buy Dutch banking giant ABN Amro in 2007. The British government pumped 45 billion pounds (US$73 billion) into RBS to keep it afloat in 2008, leaving it 82 per cent state-owned. As of November 2012, the taxpayer faced a loss of 19 billion pounds on the investment. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Alex Lo Alex Lo By securing a full term as Canada’s prime minister, Mark Carney’s election victory says a lot about the interesting times that we – both Canadians and non-Canadians – live in. Like the other English-speaking Commonwealth countries, he faces a United States that is no longer their protector but predator, and a China that is both a threat and a trade partner. Still, Carney has much to thank Donald Trump for. Without the bombastic US president who vowed to make their country America’s 51st state,... https://www.scmp.com/opinion/article/3308568/canada-cannot-decouple-china-or-de-risk-us?utm_source=rss_feed https://www.scmp.com/opinion/article/3308568/canada-cannot-decouple-china-or-de-risk-us?utm_source=rss_feed Wed, 30 Apr 2025 13:00:21 +0000 Five banks, including Barclays and Royal Bank of Scotland, have been fined a total of more than €1 billion (US$1.1 billion) by the European Union for rigging the multitrillion-dollar foreign exchange market. The European Commission said the banks, which also include Citigroup, JP Morgan and MUFG (Mitsubishi UFJ Financial Group), formed two cartels to manipulate the spot foreign exchange market for 11 currencies, including the US dollar, the euro and the pound. The financial industry has been hit... https://www.scmp.com/news/world/europe/article/3010560/five-banks-fined-more-us1-billion-eu-rigging-multitrillion-dollar?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3010560/five-banks-fined-more-us1-billion-eu-rigging-multitrillion-dollar?utm_source=rss_feed Thu, 16 May 2019 14:00:48 +0000 Police in Scotland say suspicious packages were found on Wednesday at a university and a bank building, a day after three London transit hubs received letter bombs. Police Scotland said officers are examining packages discovered at the Royal Bank of Scotland headquarters in Edinburgh and at the University of Glasgow. The university said several buildings on its campus, including a mailroom, had been evacuated “as a precautionary measure” and would remain closed all day. London terror alert as... https://www.scmp.com/news/world/europe/article/2188928/uk-police-probe-suspicious-packages-royal-bank-scotlands-edinburgh?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/2188928/uk-police-probe-suspicious-packages-royal-bank-scotlands-edinburgh?utm_source=rss_feed Wed, 06 Mar 2019 14:00:15 +0000 Britain’s leading consumer group has called on banks to justify nearly 13,000 bank branch closures that have left millions of people struggling to access vital financial services across the UK. Figures compiled by the consumer charity Which? show the UK has lost nearly two-thirds of its bank and building society branches over the past 30 years, from 20,583 in 1988 to 7,586. The loss of those sites has left 19 per cent of the population nearly 3km (two miles) away from their nearest branch,... https://www.scmp.com/news/world/europe/article/2173509/british-banks-urged-justify-staggering-level-branch-closures?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/2173509/british-banks-urged-justify-staggering-level-branch-closures?utm_source=rss_feed Fri, 16 Nov 2018 01:31:27 +0000 Royal Bank of Scotland (RBS) plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled British lender from emerging markets to focus on its domestic business. The lender, 81-per cent owned by the British government, has been reviewing its global footprint as it seeks to rebuild its reputation after one of the biggest bailouts in British history during the global financial crisis. Last month, media... https://www.scmp.com/business/banking-finance/article/1698756/royal-bank-scotland-pull-out-middle-east-and-africa?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1698756/royal-bank-scotland-pull-out-middle-east-and-africa?utm_source=rss_feed Sun, 01 Feb 2015 13:45:21 +0000 The US$4.3 billion in civil settlements struck on Wednesday between six global banks and US and British authorities over foreign exchange market manipulation sets the stage for negotiations over related probes that could bear much more severe consequences. Citigroup, UBS, HSBC, Royal Bank of Scotland, JP Morgan Chase and Bank of America agreed to make the payment to settle civil claims that they failed to stop traders from trying to rig the foreign exchange market. But the deal did not resolve... https://www.scmp.com/business/article/1638660/us-and-uk-forex-probes-could-bring-more-pain-banks?utm_source=rss_feed https://www.scmp.com/business/article/1638660/us-and-uk-forex-probes-could-bring-more-pain-banks?utm_source=rss_feed Thu, 13 Nov 2014 03:15:00 +0000 US, British and Swiss regulators fined HSBC and four other global banks more than US$3 billion for attempting to manipulate foreign exchange markets - the latest penalties for an industry previously criticised for rigging interest rates and for their role in triggering the global financial crisis. The US Commodity Futures Trading Commission, the UK Financial Conduct Authority and the Swiss Financial Market Supervisory Authority said Citibank, JPMorgan Chase, Royal Bank of Scotland, HSBC and UBS... https://www.scmp.com/business/banking-finance/article/1638444/hsbc-among-five-banks-fined-us34-billion-rigging-foreign?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1638444/hsbc-among-five-banks-fined-us34-billion-rigging-foreign?utm_source=rss_feed Wed, 12 Nov 2014 21:45:15 +0000 Scottish First Minister Alex Salmond has demanded a probe into the disclosure of Royal Bank of Scotland's potential move to England, accusing the British government of deliberate "scaremongering" before next week's independence referendum. "A Treasury source told the BBC that it had discussed the plans with the Royal Bank of Scotland," Salmond said at a press conference in Edinburgh yesterday. "The Treasury official or ministers are not allowed to brief market-sensitive information." That was a... https://www.scmp.com/business/banking-finance/article/1590408/rbs-relocate-england-if-scotland-votes-independence?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1590408/rbs-relocate-england-if-scotland-votes-independence?utm_source=rss_feed Thu, 11 Sep 2014 22:19:39 +0000 Royal Bank of Scotland has agreed to buy back HK$513 million of Lehman Brothers-related equity-linked notes at their par value from 540 investors who bought the products from the bank in 2007 and 2008. RBS is the latest bank to reach a settlement with the Securities and Futures Commission and the Hong Kong Monetary Authority after investigations into whether bank staff mis-sold risky products to customers. The bank agreed, without admitting any liability, to repurchase at 100 per cent of par... https://www.scmp.com/business/banking-finance/article/1285701/rbs-agrees-buy-back-structured-notes-sold-lehman-100pc?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1285701/rbs-agrees-buy-back-structured-notes-sold-lehman-100pc?utm_source=rss_feed Thu, 18 Jul 2013 16:00:00 +0000 British prosecutors say they have extensive evidence against former trader Tom Hayes, the first suspect to come to court following a global investigation into the suspected rigging of interbank lending rates. “To describe (the evidence) as voluminous would be rather an understatement,” Mukul Chawla, leading counsel for Britain’s Serious Fraud Office (SFO), told a preliminary court hearing. Judge Anthony Leonard told lawyers representing the SFO to serve their prosecution papers by Sept. 30 at... https://www.scmp.com/business/banking-finance/article/1275844/uk-prosecutor-promises-hefty-evidence-first-libor-fixing?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1275844/uk-prosecutor-promises-hefty-evidence-first-libor-fixing?utm_source=rss_feed Fri, 05 Jul 2013 02:47:59 +0000 Britain’s finance ministry has appointed investment bank Rothschild to advise on the potential break-up of part-nationalised Royal Bank of Scotland . Finance Minister George Osborne said in June that Britain would examine whether to split the bank up, after acknowledging a sale of the government’s 81 per cent stake in the bank remained a long way off. The Treasury said on Wednesday Rothschild would provide financial advice on the case for transferring RBS’s remaining toxic loans into a so-called... https://www.scmp.com/business/banking-finance/article/1275140/uk-asks-rothschild-advise-possible-rbs-break?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1275140/uk-asks-rothschild-advise-possible-rbs-break?utm_source=rss_feed Thu, 04 Jul 2013 02:14:26 +0000 Royal Bank of Scotland will struggle to recruit a suitable replacement for ousted chief executive Stephen Hester, someone who must steer it through privatisation and accept that political interference comes with the job. Hester’s departure, engineered by chairman Philip Hampton with the backing of Britain’s finance ministry, presents RBS with the near-impossible task of finding an ideal candidate - an experienced banker untainted by the industry’s scandals who has the skill to deal with its... https://www.scmp.com/business/banking-finance/article/1260608/rbs-faces-struggle-find-boss-amid-political-meddling?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1260608/rbs-faces-struggle-find-boss-amid-political-meddling?utm_source=rss_feed Fri, 14 Jun 2013 03:05:57 +0000 Britain's four biggest banks will have eliminated about 189,000 jobs by the end of this year from their peak staffing levels, bringing employment to a nine-year low amid a dearth of revenue. More cuts may follow. Royal Bank of Scotland, HSBC, Lloyds Banking Group and Barclays will employ about 606,000 people worldwide by the end of 2013. That is 24 per cent below the peak of 795,000 in 2008 and the least since 2004, when they employed 594,000 globally. The firms are under pressure from investors... https://www.scmp.com/business/banking-finance/article/1248388/british-banks-cut-189000-jobs-take-staff-numbers-nine-year?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1248388/british-banks-cut-189000-jobs-take-staff-numbers-nine-year?utm_source=rss_feed Tue, 28 May 2013 16:00:00 +0000 Royal Bank of Scotland's Japan brokerage unit head is preparing to resign as the company faces penalties for attempts to manipulate benchmark interest rates, according to two people with knowledge of the situation. RBS Securities Japan chief executive officer Ryusuke Otani would leave the company as soon as this week, one of the people said, asking not to be named as the information is private. The Financial Services Agency would announce penalties, including a business improvement order as... https://www.scmp.com/business/banking-finance/article/1212617/rbs-japan-head-roll-over-libor-rigging?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1212617/rbs-japan-head-roll-over-libor-rigging?utm_source=rss_feed Thu, 11 Apr 2013 16:00:00 +0000 A multistate probe of alleged manipulation of interest rates threatens to leave banks liable for billions of dollars in estimated state and local losses from the scandal, even as they settle with national regulators. New York Attorney General Eric Schneiderman is helping lead a probe into claims that banks rigged global benchmarks for borrowing, adding to investigations by other authorities, including the US Justice Department. Royal Bank of Scotland agreed on Wednesday to pay about US$612... https://www.scmp.com/business/banking-finance/article/1145548/cost-rigging?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1145548/cost-rigging?utm_source=rss_feed Thu, 07 Feb 2013 16:00:00 +0000 Royal Bank of Scotland is to pay US$612 million in fines to regulators in the United States and Britain for rigging interbank lending rates, the kind of market manipulation the Hong Kong Monetary Authority sought to stave off yesterday by unveiling new measures in setting rates in the city. More than a dozen traders at RBS offices in London, Singapore and Tokyo manipulated the London interbank offered rate, which is used to price trillions of dollars worth of loans, from at least 2006 until... https://www.scmp.com/business/banking-finance/article/1144342/uks-rbs-braced-libor-rate-rigging-punishment?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1144342/uks-rbs-braced-libor-rate-rigging-punishment?utm_source=rss_feed Wed, 06 Feb 2013 01:45:21 +0000 The more we learn about the manipulation of the London interbank offered rate (Libor), the more expensive the scandal becomes for the financial institutions involved. If banks want to control the damage, they would do well to come clean sooner rather than later about the full extent and effect of their misbehaviour. Recent revelations about misdeeds at Barclays, Royal Bank of Scotland, and UBS - only three of more than a dozen banks under investigation - are enough to keep lawyers and courts... https://www.scmp.com/business/banking-finance/article/1141462/banks-consider-global-libor-deal-costs-scandal-rise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1141462/banks-consider-global-libor-deal-costs-scandal-rise?utm_source=rss_feed Fri, 01 Feb 2013 16:00:00 +0000 Royal Bank of Scotland, Britain's biggest publicly owned lender, may reduce the bonus pool at its investment bank by more than a third as it prepares to pay fines to US and British regulators for Libor manipulation, a person with knowledge of the plan said. RBS was poised to set aside about £250 million (HK$3.05 billion) for bonuses at the division, compared with £390 million for 2011, said the person, who asked not to be identified because a final decision is yet to be taken. The bank planned... https://www.scmp.com/business/banking-finance/article/1138939/royal-bank-scotland-plans-bonus-cut-help-cover-libor?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1138939/royal-bank-scotland-plans-bonus-cut-help-cover-libor?utm_source=rss_feed Tue, 29 Jan 2013 16:00:00 +0000 Royal Bank of Scotland may pay up to £500 million (HK$6.24 billion) in fines next week to settle allegations that traders tried to rig interest rates, two people with knowledge of the matter said. Investment banking chief John Hourican and Peter Nielsen, the head of markets, might also be asked to leave because they had responsibility for the parts of the company where the alleged wrongdoing occurred, even though they might not have had direct knowledge of the behaviour, said the two... https://www.scmp.com/business/banking-finance/article/1128992/rbs-faces-ps500m-fine-over-libor-charges?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1128992/rbs-faces-ps500m-fine-over-libor-charges?utm_source=rss_feed Tue, 15 Jan 2013 16:00:00 +0000 UBS charges loom; RBS also braces for big fine US prosecutors plan to file charges this week against multiple bankers linked to UBS rigging of Tokyo interbank lending rates. UBS is set to pay as much as US$1.6 billion to settle charges of interest rate manipulation with various authorities. Meanwhile, Royal Bank of Scotland is braced for a penalty of more than £350 million (HK$4.37 billion) for interest rate rigging, Britain's Sunday Times newspaper reported. Bloomberg, Reuters   Cargo at Chek... https://www.scmp.com/business/china-business/article/1107008/business-digest-december-17-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1107008/business-digest-december-17-2012?utm_source=rss_feed Sun, 16 Dec 2012 16:00:00 +0000 Who would have thought that chicken feet could bring a US port to life? But that is indeed what they have done for the port of Savannah, Georgia. Prior to 2002, Savannah was a quiet sleepy port. Then two things happened. First, the west coast dock strike resulted in a lot of cargo being redirected through Savannah, much of which it held on to afterwards. Second, Hong Kong businesspeople started showing an interest in buying the chicken feet that hitherto had been thrown away at local processing... https://www.scmp.com/business/article/1100244/chicken-feet-give-savannah-big-foot-shipping-door?utm_source=rss_feed https://www.scmp.com/business/article/1100244/chicken-feet-give-savannah-big-foot-shipping-door?utm_source=rss_feed Fri, 07 Dec 2012 16:00:00 +0000 Global banking, a model promoted for more than 30 years by financial conglomerates cobbled together through cross-border mergers, is colliding with the post-crisis reality of stricter national regulation. Daniel Tarullo, the Federal Reserve governor responsible for bank supervision, announced plans last week to impose the same capital and liquidity requirements on the US operations of foreign lenders as on domestic companies. Britain and Switzerland also have proposed banking and capital rules... https://www.scmp.com/business/banking-finance/article/1098254/banking-giants-find-big-no-longer-beautiful?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1098254/banking-giants-find-big-no-longer-beautiful?utm_source=rss_feed Wed, 05 Dec 2012 16:00:00 +0000 Euro-zone joblessness hits record 11.7pc Unemployment in the euro zone hit a record high of 11.7 per cent in October, with more than 170,000 extra jobs lost compared with September and youth unemployment at almost 24 per cent, as the economy slumped into recession, official data showed. In Greece, 57 per cent of under-25s were jobless in August, the latest available figure, and in Spain 55.9 per cent in October. AFP   Japan unveils second round of stimulus Japan's cabinet approved a second round... https://www.scmp.com/business/china-business/article/1094793/business-digest-december-1-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1094793/business-digest-december-1-2012?utm_source=rss_feed Fri, 30 Nov 2012 16:00:00 +0000 Bankers in London, the hub for securities firms in Europe, are bracing for lower bonuses compared with their New York counterparts as earnings from the region plummet and pressure to tighten payouts mounts. Investment bankers and traders at European banks should expect at least a 15 per cent cut in pay this year, while US lenders may leave compensation unchanged, three consultants said. That's because bonus pools at European banks might be cut by as much as half, while those at US firms, which... https://www.scmp.com/business/banking-finance/article/1092312/lean-bonus-londons-bankers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1092312/lean-bonus-londons-bankers?utm_source=rss_feed Tue, 27 Nov 2012 16:00:00 +0000 CIMB Group is keen to use its recent acquisition of some Asian assets from Royal Bank of Scotland (RBS) to help it expand rapidly outside its home market, focusing on Southeast Asia and China. Nazir Razak, chief executive of CIMB, the second-largest bank in Malaysia, told the South China Morning Post in an exclusive interview he wanted to make better use of those RBS assets than Nomura did when it acquired Lehman Brothers' assets in Asia and Europe during the 2008 global financial crisis. Nazir,... https://www.scmp.com/business/banking-finance/article/1091519/malaysian-bank-uses-rbs-assets-grow-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1091519/malaysian-bank-uses-rbs-assets-grow-asia?utm_source=rss_feed Mon, 26 Nov 2012 16:00:00 +0000 Britain could lose the £66 billion (US$105 billion, 82 billion euros) it spent on rescuing Royal Bank of Scotland and Lloyds Banking Group and made key errors over failed lender Northern Rock, lawmakers said on Friday. The Public Accounts Committee -- a panel of British lawmakers -- issued the gloomy verdict in a eagerly-awaited report into the government’s handling of Northern Rock, which has since been taken over by Richard Branson’s Virgin Group. At the height of the credit crunch in 2008,... https://www.scmp.com/business/banking-finance/article/1083701/britain-could-lose-ps66b-bank-bailouts-lawmakers?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1083701/britain-could-lose-ps66b-bank-bailouts-lawmakers?utm_source=rss_feed Fri, 16 Nov 2012 01:00:52 +0000 HSBC pretax profit expected to rise 79pc HSBC, which is due to report earnings on Monday, may say third-quarter pretax profit rose 79 per cent as income from its investment banking unit rebounded. Profit, excluding acquisitions and disposals and accounting losses from revaluing the bank's own debt, probably rose to US$5.3 billion year on year, the median estimate of analysts in a survey showed. Bloomberg   RBS in red, seeking Libor settlement Royal Bank of Scotland swung to a third-quarter loss... https://www.scmp.com/business/china-business/article/1074837/business-digest-november-3-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1074837/business-digest-november-3-2012?utm_source=rss_feed Fri, 02 Nov 2012 16:00:00 +0000 Jefferies & Co has hired Sherry Liu, the former China chairman and chief executive of Britain's Royal Bank of Scotland (RBS), to help expand its investment banking business in Asia. Liu, who resigned in August from loss-making RBS, which was rescued by British taxpayers in the 2008 global financial crisis, will join the New York-based firm soon in a senior role in its investment banking business, three people in the industry familiar with the matter said. They declined to be identified before an... https://www.scmp.com/business/banking-finance/article/1062694/fast-moving-us-firm-hires-star-banker-asia?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1062694/fast-moving-us-firm-hires-star-banker-asia?utm_source=rss_feed Tue, 16 Oct 2012 16:00:00 +0000 Royal Bank of Scotland managers stand accused of condoning and participating in manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired. In a message conversation in late 2007, Jezri Mohideen, then the bank's head of yen products in Singapore, instructed colleagues in Britain to lower RBS's submission to the London interbank offered rate that day, according to industry sources. No reason was given in the message as to why he wanted a... https://www.scmp.com/business/banking-finance/article/1047183/rbs-executives-accused-being-involved-libor-scam?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1047183/rbs-executives-accused-being-involved-libor-scam?utm_source=rss_feed Tue, 25 Sep 2012 16:00:00 +0000 A former chief financial officer with the Royal Bank of Scotland's China operations was recently questioned by police over suspected economic crimes. According to three sources with knowledge of the matter, Edgar Zhi, formerly also of ABN Amro China, was investigated by police for alleged illegal actions, and it is unknown yet whether he had violated any Chinese laws. RBS said yesterday that Zhi had been dismissed and was no longer with the bank. "It is a police matter and we are unable to... https://www.scmp.com/business/banking-finance/article/1041827/former-rbs-china-chief-financial-officer-questioned-police?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1041827/former-rbs-china-chief-financial-officer-questioned-police?utm_source=rss_feed Thu, 20 Sep 2012 16:00:00 +0000 The UK government-controlled Royal Bank of Scotland (RBS) is bailing out of equities in Asia and going big on bonds, in particular those denominated in offshore yuan. The bullish bet on the mainland currency underscores growing confidence in Beijing's ambition to further internationalise the yuan in the coming years. The Edinburgh-based RBS, which was rescued by British taxpayers in the 2008 financial crisis and is now 83 per cent government owned, plans to focus on the fast-growing market in... https://www.scmp.com/article/993470/rbs-plans-focus-dim-sum-market?utm_source=rss_feed https://www.scmp.com/article/993470/rbs-plans-focus-dim-sum-market?utm_source=rss_feed Wed, 22 Feb 2012 16:00:00 +0000 The Royal Bank of Scotland (RBS) Group is currently engaged in two robust programmes to recover from what has been a challenging 12-month period for the Edinburgh-headquartered group in Asia. Firstly, it is expanding its mainland operations. Secondly, it is rebuilding its Asian equity capital markets (ECM) unit after the workforce at its corporate and investment banking operations in the region was almost decimated last year. As growth consolidates in the Asia Pacific, RBS is targeting revenue... https://www.scmp.com/article/972935/rbs-moves-rebuild-ecm-business?utm_source=rss_feed https://www.scmp.com/article/972935/rbs-moves-rebuild-ecm-business?utm_source=rss_feed Fri, 08 Jul 2011 16:00:00 +0000 Royal Bank of Scotland, which holds 8.25 per cent of Bank of China, is in talks to buy 19.9 per cent of Suzhou Trust to secure a foothold in the fast-growing asset management sector. 'The two parties have got initial results in negotiations over key issues such as the selling price and the size of the stake,' the mainland's 21st Century Business Herald quoted sources as saying. No price was disclosed and neither company could be reached for comment. Suzhou Trust, based in Jiangsu province, is... https://www.scmp.com/article/620201/royal-bank-scotland-talks-stake-suzhou-trust?utm_source=rss_feed https://www.scmp.com/article/620201/royal-bank-scotland-talks-stake-suzhou-trust?utm_source=rss_feed Wed, 19 Dec 2007 16:00:00 +0000 Royal Bank of Scotland (RBS) may receive compensation in the form of cash and additional shares should its US$1.6 billion investment in Bank of China (BOC) suffer due to a deterioration in the state lender's finances. However, reports that BOC offered unprecedented guarantees to insure the British bank against a raft of business risks 'considerably exaggerated' the position, according to well-placed sources close to mainland banks. The reports were overstated in order to assuage RBS investor... https://www.scmp.com/article/513601/rbs-line-compensation-if-stake-boc-turns-sour?utm_source=rss_feed https://www.scmp.com/article/513601/rbs-line-compensation-if-stake-boc-turns-sour?utm_source=rss_feed Thu, 25 Aug 2005 16:00:00 +0000 If there were a script for the right way to invest in one of China's big four banks, Royal Bank of Scotland would be following it to the letter. Compared with Bank of America, which in June pledged US$3 billion for a 9 per cent stake in China Construction Bank, RBS is being relatively modest in its aims. But by shooting low, the Edinburgh-based bank has secured what may well prove to be a better deal in the long run. RBS has spread its risk by enlisting two passive financial investors as its... https://www.scmp.com/article/512681/big-things-may-come-scottish-banks-modest-china-aims?utm_source=rss_feed https://www.scmp.com/article/512681/big-things-may-come-scottish-banks-modest-china-aims?utm_source=rss_feed Thu, 18 Aug 2005 16:00:00 +0000