The future for RBS?

[Ecosseven]

So RBS has been fined £390m for its role in LIBOR fixing. It continues to put money aside for PPI compensation and last year it made compensation payments to people affected by failure of their IT system. Having said that the share price has enjoyed excellent growth over the past few months.

So what does the future hold for RBS?

Do you think Hester has done a good job in turning the bank around?

Do you think RBS will post a profit this year?

When will the Government decide to sell of its shares or will they decide to fully nationalise the bank instead?

Edited by Ecosseven on Wednesday 6th February 19:48

[martin mrt]

It's not looking very positive for them, I'm not sure what will happen

As a customer, the service has been getting progressively worse over the years, moreso over the last two or three, as a result im going to be taking my business elsewhere this year.

[ringram]

I vote, liquidate like Anglo Irish.
Failed banks should be killed. Pour encourager les autres

[fido]

Ecosseven said:

Do you think Hester has done a good job in turning the bank around?

He's done what the government (of the day) has asked him to do. Which was half the problem. They went through a massive expansion in 2009/10 to grow their core businesse e.g. Equities, but then had to pull back, partly due to political pressure. It's no way to run a business. The IT debacle was a result of their obsession with offshoring services. Not sure who's idea that was, or just a simple way to cut costs (which it probably hasn't achieved).

Edited by fido on Thursday 7th February 11:16

[BoRED S2upid]

Can't get much worse... can it?

Do they have any customers left? I would have been moving out of there pretty quick.

[shotgunfacelift]

BoRED S2upid said:

Can't get much worse... can it?

Do they have any customers left? I would have been moving out of there pretty quick.

Could you expand on that a little? Do you think your money is at risk banking with them? Or just not happy with the service lately?

Don't worry I don't work for RBS, I have accounts with them, but I'm a returning expat and not up to speed on the best (if there is one) bank now.

[Pints]

shotgunfacelift said:

BoRED S2upid said:

Can't get much worse... can it?

Do they have any customers left? I would have been moving out of there pretty quick.

Could you expand on that a little? Do you think your money is at risk banking with them? Or just not happy with the service lately?

Don't worry I don't work for RBS, I have accounts with them, but I'm a returning expat and not up to speed on the best (if there is one) bank now.

+1 for the question, and does that include NatWest?

[BoRED S2upid]

shotgunfacelift said:

BoRED S2upid said:

Can't get much worse... can it?

Do they have any customers left? I would have been moving out of there pretty quick.

Could you expand on that a little? Do you think your money is at risk banking with them? Or just not happy with the service lately?

Don't worry I don't work for RBS, I have accounts with them, but I'm a returning expat and not up to speed on the best (if there is one) bank now.

Your money is perfectly safe in any bank providing you don't have hundreds of thousands just personal preference.

[fido]

Pints said:

+1 for the question, and does that include NatWest?

Natwest is a very good franchise. It's one of their better businesses IMO. Perhaps a reverse managemement takeover and they can rename themselves Natwest Capital or something?

[anonymous-user]

My business account is with Natwest and they are hopeless. Terrible interest rates on cash deposits, relationship managers than get changed ever few months and a very clunky online banking offering.

They also refused to offer a small mortgage to my dad and I for no good reason at all. One twenty minute meeting with Handelsbanken and we had an agreement in principle. If Natwest aren't going to lend to people with plenty of assets and excellent credit histories then frankly they aren't fit for purpose.

[Pints]

The NatWest online banking was down for a while last night. Very frustrating when you just want to get some stuff done and their telephone banking is next to hopeless.

Thankfully it's not my main account - I switched years ago.

[Davel]

We banked at the same branch for 99 years in the various names before it became an RBS Branch.

The Corporate section gave such appalling service recently that we finally switched switched to Handelsbanken.

I'm so pleased that we have.

[P-Jay]

From what I hear they're a very well run profitable bank these days (customer services issues mentioned above aside) but they're pretty crippled by legacy issues and political pressure. Certainly much better than pre-crash when it was run by a gang of idiots who were far too keen to believe their own hype.

The best case for everyone, customer, share holder and tax payer alike would be for them to buy themselves back from the Government / UK and go back to making piles of money, although a little less recklessly this time.

I suspect they won't be broken up or sold off in chunks, I fancy once they're over the PPI / LIBOR problems and they start turning a profit they public owned shares will be sold as a large scale public offering.

[sfp]

P-Jay said:

From what I hear they're a very well run profitable bank these days (customer services issues mentioned above aside) but they're pretty crippled by legacy issues and political pressure. Certainly much better than pre-crash when it was run by a gang of idiots who were far too keen to believe their own hype.

You're misinformed. It's a lacklustre depressed place, and those who took over from the 'gang of idiots' have involved me personally (and I suspect many others) in inappropriate lending issues not least of which is the sale of hedging products. They're probably the biggest business threat many of their customers face, and I take as little to do with them as possible, and will leave them at the first opportunity. Dreadful bank.