Royal Bank of Scotland is—finally—investible once more. Late on Wednesday it reached a $4.9 billion settlement in principle with U.S. prosecutors over crisis-era mortgage bond sales, one of the last banks to do so.
That settlement means that the bank that took the U.K.’s largest bailout in the financial crisis now has clarity on the last big threat to its capital. It leaves it likely to pay its first dividend in a decade once it gets to the end of 2018. The shares leapt 6% at the open on Thursday.
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