Treasury poised to unload stake
RBS to report half-year loss ahead of September share sale
Royal Bank of Scotland will parcel up more losses and one-off charges ahead of the expected first sale of a tranche of taxpayer-owned shares to the private sector.
The Treasury is poised to begin selling selling a small portion of its 79% stake in September and before that it will report a half-year loss and book a one-off charge.
The bank will release half-year results at the end of this month and analysts at Investec believe RBS will book a £1.4 billion charge for restructuring and misdemeanours. The consensus among analysts is a loss of £300 million.
RBS is also facing fines for its involvement in US sub-prime mortgages and there has been speculation that a sale of shares would not be possible until this is clarified.