U.S. banks that pass the Federal Reserve’s annual stress tests are strong enough to boost quarterly payouts to shareholders 53 percent on average, disbursing $109 billion over the next 15 months, according to analysts.
Royal Bank of Scotland Group Plc, Britain’s largest taxpayer-owned lender, posted a seventh straight annual loss after writing down its U.S. unit and forecast higher restructuring costs as it shrinks its investment bank.
By Richard Partington Bloomberg News
Royal Bank of Scotland Group PLC will write down the value of its U.S. unit, Citizens Financial Group Inc., by about 4 billion pounds ($6.2 billion) next week, a person familiar with the matter said.
(Updated, 12:55 p.m.)
Santander Bank has reached an agreement to change the way it screens applicants of checking and savings accounts amid concerns the current practice is slanted against low-income consumers.