anche due magari.... però un tentativo va fatto..... in fondo con i primi earnings non particolarmente positivi il mercato non è andato poi cosi male.....
e tre mani ? buongiorno a tutti ...
RBS set to reveal £20bn loss
By Peter Thal Larsen and Jane Croft
Published: January 19 2009 00:02 | Last updated: January 19 2009 00:02
Royal Bank of Scotland is on Monday expected to announce it suffered a £20bn loss last year as the state-controlled lender unveiled further damage as a result of the credit crunch.
RBS executives were on Sunday night finalising a trading statement that shows it made the biggest loss in British corporate history, exceeding the £15bn deficit reported by Vodafone, the mobile phone group, in 2006.
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The bank is expected to say it made a loss of £7bn-£8bn due to large additional writedowns on complex debt securities that were hit by the credit turmoil in the final few months of 2008.
It is also taking a £15bn ($22bn) hit to goodwill from past acquisitions, most notably its share of ABN Amro, the Dutch lender it acquired as part of a €71bn (£63bn) hostile break-up bid in 2007.
Executives are likely to stress that the writedowns reflect the lower value of assets on the bank’s balance sheet, not its cashflow. The goodwill writedown also does not hit RBS’s regulatory capital reserves, which were boosted last year by a £20bn cash injection from the government.
Nevertheless, the loss is a further indictment of RBS’s aggressive expansion strategy under Sir Fred Goodwin, its former chief executive, who was ousted last year.
It also underscores the rapid deterioration in RBS’s finances during the credit market turmoil that followed the collapse of Lehman Brothers, the Wall Street bank, in September 2008. For the six months to June 2008, RBS reported a loss of just £692m.
Stephen Hester, who replaced Sir Fred as RBS’s chief executive, is determined to come clean about the bank’s previous poor lending decisions in an effort to restore confidence among investors and customers.
