We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
RBS Might Transfer Assets to Netherlands in No-Deal Brexit
Read MoreHide Full Article
The Royal Bank of Scotland is planning to shift assets to the Netherlands in March 2019 in case of a no-deal Brexit. The bank has put forth request for transfer of assets worth about £6 billion and £7 billion of liabilities to its Dutch subsidiary — NatWest Markets N.V.
The move is expected to impact nearly 30% of customers in NatWest markets’, who are located in the European Economic Area.
In case a deal is struck between Britain and European Union (“EU”), the transfer of assets would be a slower process and be “subject to further political developments”, per the bank.
Notably, RBS has picked Amsterdam as its EU hub. However, it will also attend clients out of Dublin, Frankfurt, Madrid, Milan, Paris and Stockholm.
Similar Moves by Other Banks
Deutsche Bank (DB - Free Report) is planning to transfer a large chunk of assets from its London base to Frankfurt headquarters post Brexit. Further, Citigroup (C - Free Report) might make 150 new positions in the EU. Also, the bank has plans to convert its existing subsidiary in Frankfurt into an investment firm.
Goldman Sachs (GS - Free Report) has begun moving operation from London to Frankfurt and other European cities. UBS Group is yet to finalize plans. However, it expects to move about 250 jobs, down from previous forecast of 1000. Also, the bank is mulling over Frankfurt, Madrid and Amsterdam as its potential EU locations.
Our Take
Royal Bank of Scotland’s diversified business model and commitment to improve financials are likely to support its overall growth in the near term. Moreover, resumption of dividend payment and special dividend announcement reflect its improving financial position, and is expected to act as a tailwind. However, its involvement in legal issues remains a concern.
Shares of RBS have declined around 17.1% on the NYSE over the past three months compared with the fall of 4.3% recorded by the industry.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
RBS Might Transfer Assets to Netherlands in No-Deal Brexit
The Royal Bank of Scotland is planning to shift assets to the Netherlands in March 2019 in case of a no-deal Brexit. The bank has put forth request for transfer of assets worth about £6 billion and £7 billion of liabilities to its Dutch subsidiary — NatWest Markets N.V.
The move is expected to impact nearly 30% of customers in NatWest markets’, who are located in the European Economic Area.
In case a deal is struck between Britain and European Union (“EU”), the transfer of assets would be a slower process and be “subject to further political developments”, per the bank.
Notably, RBS has picked Amsterdam as its EU hub. However, it will also attend clients out of Dublin, Frankfurt, Madrid, Milan, Paris and Stockholm.
Similar Moves by Other Banks
Deutsche Bank (DB - Free Report) is planning to transfer a large chunk of assets from its London base to Frankfurt headquarters post Brexit. Further, Citigroup (C - Free Report) might make 150 new positions in the EU. Also, the bank has plans to convert its existing subsidiary in Frankfurt into an investment firm.
Goldman Sachs (GS - Free Report) has begun moving operation from London to Frankfurt and other European cities. UBS Group is yet to finalize plans. However, it expects to move about 250 jobs, down from previous forecast of 1000. Also, the bank is mulling over Frankfurt, Madrid and Amsterdam as its potential EU locations.
Our Take
Royal Bank of Scotland’s diversified business model and commitment to improve financials are likely to support its overall growth in the near term. Moreover, resumption of dividend payment and special dividend announcement reflect its improving financial position, and is expected to act as a tailwind. However, its involvement in legal issues remains a concern.
Shares of RBS have declined around 17.1% on the NYSE over the past three months compared with the fall of 4.3% recorded by the industry.
RBS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>