The chief executive of Royal Bank of Scotland has predicted the business may restart dividend payments to shareholders after 2013, by which time its restructuring phase should be complete.
Speaking to an audience of investors yesterday, Stephen Hester said RBS was on the way to becoming a "good" bank, adding it was on the verge of exiting the asset protection scheme, which insures its most toxic loans. "Hopefully that is imminent," he said, adding that once that had happened the bank would be able to "start articulating a dividend policy going forward". However, he also suggested the bank would still have to deal with problems inherited when he joined the bank in October 2008, including the spectre of a fine for attempting to manipulate LIBOR, the Guardian reports. ...
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