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21 Apr 2008
The Royal Bank of Scotland is bracing itself for a further writedown of at least £5bn on the value of its assets.
RBS is expected to make an announcement to the City in a trading statement this week, but the writedown could be as large as £7bn, The Times reported.
This morning, the bank said that it was considering selling shares at attractive prices to existing shareholders in a rights issue, expected to raise £10bn.
The bank has already announced writedowns of about £1.7bn on the value of its mortgage-backed debt packages, loans to private equity groups and other securities.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
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