Alternative Remedies Package Deed signed

RNS Number : 9095M

Royal Bank of Scotland Group PLC

02 May 2018

 

Royal Bank of Scotland Group

2 May 2018

The Royal Bank of Scotland Group plc ‐ Alternative Remedies Package Framework and State Aid Deed signed

RBS welcomes today's announcement from Banking Competition Remedies Limited ("BCR Ltd") on the appointment of its executive leadership. RBS has entered into a Framework and State Aid Deed with HM Treasury and BCR Ltd (the "Deed"), which replaces the existing Revised State Aid Commitment Deed. The announcement sets out an indicative timescale for the commencement of the previously announced alternative package of remedies in relation to RBS's commitment to divest the business previously known as Williams & Glyn. BCR Ltd is an independent body established to facilitate and oversee the delivery of the Deed.

For further information contact:

RBS Investor Relations

Matt Waymark

Head of Investor Relations

[phone]

RBS Media Relations

[phone]

Forward Looking Statements

This announcement contains forward‐looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, including (but not limited to) those related to RBS and its subsidiaries' regulatory capital position, and requirements, financial position, future pension funding and contribution requirements, on‐going litigation and regulatory investigations, profitability and financial performance (including financial performance targets), structural reform and the implementation of the UK ring‐fencing regime, the implementation of RBS's restructuring and transformation programme, risk‐weighted assets, impairment losses and credit exposures under certain specified scenarios, increasing competition from new incumbents and disruptive technologies and RBS's exposure to political risks, operational risk, conduct risk, cyber and IT risk and credit rating risk. In addition, forward‐looking statements may include, without limitation, the words "intend", "expect", "anticipate", "target", "plan", "believe", "risk", "estimate", "project", "commit", "should", "could", "probability", "Value‐at‐Risk (VaR)", "goal", "objective", "may", "endeavour", "outlook", "optimistic", "prospects" and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as RBS's future economic results, business plans and current strategies. Forward‐looking statements are subject to a number of risks and uncertainties that might cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward‐looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, legislative, political, fiscal and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations and general economic conditions. These and other factors, risks and uncertainties that may impact any forward‐looking statement or RBS's actual results are discussed in RBS's UK 2017 Annual Report and Accounts (ARA) and other materials filed with, or furnished to, the US Securities and Exchange Commission, including, but not limited to, RBS's most recent Annual Report on Form 20‐F and Reports on Form 6‐K. The forward‐looking statements contained in this announcement speak only as of the date of this announcement and RBS does not assume or undertake any obligation or responsibility to update any of the forward‐looking statements contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent legally required.

Legal Entity Identifier

The Royal Bank of Scotland Group plc           2138005O9XJIJN4JPN90

 

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