May 3, 2012 / 7:49 PM / 6 years ago

RBS to complete repayment of state loans: source

LONDON (Reuters) - State-backed Royal Bank of Scotland Group Plc (RBS.L) will say on Friday that it will finish repaying 164 billion pounds ($264 billion) in emergency loans from Britain and the United States next week, a person familiar with the situation told Reuters on Thursday.

The repayments cover 75 billion pounds that RBS received from the credit guarantee programme, which was a key plank of the government’s bailout of banks in October 2008 at the height of the financial crisis.

It also includes repayment of the 36.6 billion pounds it received through emergency liquidity assistance from the Bank of England and $84.5 billion loaned by the U.S. Federal Reserve, the source said.

RBS, which is 82 percent owned by the British government, will publish first quarter results on Friday.

    ($1 = 0.6172 British pounds)

    Reporting by Matt Scuffham

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below