30th Sep 2014 17:13
LONDON (Alliance News) - Royal Bank of Scotland Group PLC Tuesday said it has raised GBP85 million in a share subscription, partly neutralising the impact of 2014 coupon payments on its discretionary hybrid capital from a Core Tier 1 capital perspective.
The financial group, which is 80% owned by the UK government following its bailout in the wake of the financial crisis, said is has issued 23.88 million new shares, roughly a 0.4% increase in the number of shares it has in issue, at 355.8904 pence each.
In a statement earlier Tuesday, RBS said expects to "significantly outperform" its previous impairment guidance for the full year, supported by an improvement in economic conditions and asset prices in its key markets, including Ireland, though it issued a warning on third-quarter corporate and institutional banking revenue.
RBS had previously guided about GBP1.0 billion in total impairments for the full year, but gave no specific new guidance.
RBS shares closed trading 2.6% higher Tuesday at 370.84 pence. The share subscription announcement came after the close.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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