29th Feb 2016 15:37
LONDON (Alliance News) - Royal Bank of Scotland Group PLC said its three top leaders bought roughly GBP968,000 in shares after the state-backed lender reported its eighth straight annual loss on Friday.
Chief Executive Officer Ross McEwan and Chief Financial Officer Ewen Stevenson each bought 200,000 shares at GBP2.230 and GBP2.232 each, respectively.
In addition, the bank's new chairman, Howard Davies, bought 40,000 shares at GBP2.221 each.
Davies, who assumed the role last September, replacing Philip Hampton, was deputy governor of the Bank of England from 1995 to 1997 and chairman of the UK Financial Services Authority from 1997 to 2003.
In the midst of restructuring, the Edinburgh-based bank's net loss narrowed to GBP1.98 billion in 2015 from GBP3.47 billion in 2014. Adjusted operating profit, which strips out restructuring and litigation costs, among other items, fell to GBP4.41 billion from GBP6.06 billion, due to lower income and asset disposals.
The stock was down 1.3% at 223.70p Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
RBS.L