Tuesday, January 20, 2009

Royal Bank Of Scotland Still Foundering

What's the Gaelic word for schadenfreude?

At this moment, RBS is hovering at $3.16 a share. That's equivalent to 15.8 cents a share before their ill considered 2o:1 reverse split.

On the bright side, the UK government seems to have a bottomless appetite for shoring them up, so who knows where the bottom might really lie?

Maktoob: Royal Bank of Scotland expects annual loss up to 8.0 bn pounds

Royal Bank of Scotland, majority-owned by the taxpayer because of the credit crisis fallout, said Monday it estimated an underlying annual loss of up to 8.0 billion pounds (11.9 billion dollars)."
Credit and market conditions in the fourth quarter of 2008 were particularly challenging and RBS estimates the group will report for full year 2008 an attributable loss, before exceptional goodwill impairments, of between 7.0 and 8.0 billion pounds," RBS said in a trading update

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1 comment:

Unknown said...

When Scotsmen can't keep their money together and their powder dry it's time for us all to run for the hills.