ROYAL BANK OF SCOT­LAND

Finweek English Edition - - INVESTMENT -

In­vestec Se­cu­ri­ties re­mains neg­a­tive on the prospects of this trou­bled bank­ing group. An­a­lyst Ian Gor­don com­ments: “Aside from yes­ter­day’s ir­ra­tional ‘re­struc­tur­ing eu­pho­ria’, we ob­serve that the BBA’s Jan­uary data for mort­gage ap­provals was aw­ful – the sec­ond worst month in a decade, and the worst since Jan­uary 2011. Lit­tle en­cour­age­ment here for UK-fo­cused RBS, or Lloyds (Sell).”

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