Royal Bank of Scotland Narrows '09 Loss
Updated from 2:25 a.m. EST
EDINBURGH, Scotland (TheStreet) -- Royal Bank of Scotland (RBS), the U.K. bank 84%-owned by the government, narrowed its 2009 loss to 3.6 billion pounds ($5.52 billion) from a year-earlier loss of 24.3 billion pounds.
RBS said its 2009 operating loss narrowed to 6.2 billion pounds from a year-earlier loss of 6.9 billion pounds.
RBS said impairments rose sharply to 13.9 billion pounds from 7.4 billion pounds in 2008, "but now appear likely to have peaked." Fourth-quarter impairments were 5% lower than the third quarter and "risk elements in lending" at the end of 2009 were unchanged from 35 billion pounds at the end of September.
The bank's core Tier 1 capital ratio improved to 11%. The bank's fourth-quarter loss was 765 million pounds, narrower than a loss of 1.8 billion pounds in the third quarter. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
