RBS Profit Surges as It Picks Amsterdam for EU Headquarters

Royal Bank of Scotland Group Plc second-quarter adjusted operating profit surged to 1.69 billion pounds ($2.2 billion) ahead of a decision to use Amsterdam as its post-Brexit EU hub, Bloomberg News reports.
CFO Ewen Stevenson told Bloomberg TV: “We are in advanced discussions with the Dutch national bank about setting up a small European headquarters in Amsterdam. Very, very logical market for us. We’ve got a bank there. It’s got the right licenses for us.”
The bank is making progress in turning around its performance, though the company is still dogged by legacy misconduct charges and the need to reach a settlement with the U.S. Department of Justice over its mortgage-bond probe. A delayed agreement holds off the prospect of dividends being resumed and the U.K. cutting its 71 percent stake in the bank.
RBS Profit Surges as It Picks Amsterdam for EU Headquarters  RBS Profit Surges as It Picks Amsterdam for EU Headquarters Reviewed by Alexander Von Stern on 23:43:00 Rating: 5