April 29, 2020 / 2:20 PM / a month ago

BRIEF-RBS Chairman says COVID-19 has "changed everything"

April 29 (Reuters) - Royal Bank of Scotland Group PLC :

* CHAIRMAN SAYS “COVID-19 HAS CHANGED EVERYTHING”, THE IMPACT IS LIKELY TO BE STARK AND LONG-LASTING”

* CHAIRMAN SAYS THERE SHOULD BE NO DOUBT THAT DECISIONS BEING TAKEN BY BANK, GOVERNMENT AND REGULATORS, ALONGSIDE DETERIORATION IN ECONOMIC OUTLOOK, WILL HAVE A SIGNIFICANT IMPACT ON OUR INCOME AND ABILITY TO DELIVER RETURNS, AT LEAST IN SHORT TERM.

* CHAIRMAN SAYS GOVERNMENT HAS REAFFIRMED ITS COMMITMENT TO DISPOSING OF ITS STAKE BUT THERE IS NO REALISTIC PROSPECT OF A SHARE SALE SOON

* HAS EXECUTED 13 COVID CORPORATE FINANCING FACILITY MANDATES AT A VALUE OF C£3.1BN

* CEO - WE BELIEVE WE ARE DOING MORE THAN ANY OTHER BANK TO OPERATIONALISE AND DELIVER SUPPORT SCHEMES FOR OUR CUSTOMERS

* HAS APPROVED CIRCA 7,400 CORONAVIRUS BUSINESS INTERRUPTION LOANS AT A VALUE OF £1.4BN AT APRIL 23 Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise and Iain Withers)

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