U.K. Plans to Sell Off Remaining RBS Stake After Brexit

(Bloomberg) -- The U.K. plans to sell off its remaining stake in Royal Bank of Scotland Plc by the end of the 2023-2024 tax year.

“The government will keep all disposal options under review and, as with previous disposal programmes, expects larger disposal values in later years when increased liquidity in the shares should enable higher volumes to be sold,” according to government documents.

  • Third-quarter operating profit before tax at the lender surged 10 percent to 961 million pounds ($1.23 billion), beating the consensus of 892 million pounds. The bank set aside 100 million pounds of provisions to reflect greater uncertainty around Brexit
  • The shares have fallen 17 percent this year

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