Media reports are suggesting that Royal Bank of Scotland Group PLC (RBS) is in talks to sell its Asian operations to Standard Chartered and Australia and New Zealand Banking Group (ANZ). This deal is expected to fetch approximately US$1 bn-US$1.5 bn, reinforcing the bank's liquidity position. However, we expect the company to report further writedowns over our investment horizon. Considering this, we maintain our…

On 05 May 2009, Royal Bank of Scotland Group PLC (RBS) sold US$7.0 bn in government-backed 3- year notes. However, we expect the company to report further significant impairment charges over our investment horizon. Considering this, we maintain our 6-12 month SELL rating, even though the target price derived in our last update report does not support a SELL....

Royal Bank of Scotland Group PLC (RBS) reported healthy growth in Net Interest Income (NII) in FY 2008, although non-interest income fell sharply due to net trading losses. Meanwhile, the bottom-line was hit by growth in impairment charges and substantial writedowns of goodwill and other intangible assets. However, RBS has announced that it will place GBP325 bn worth of bad assets into the UK government’s insurance scheme. Coupled with investor…