Home Business NewsBusiness RBS reports £968m loss

RBS reports £968m loss

by LLB Editor
29th Apr 16 10:06 am

The Royal Bank of Scotland has just reported a pre-tax loss of £968m for the first quarter. This is more than double of last year’s loss of £446m.

The struggling bank made a £1.2bn payment to the Treasury last month as part of its efforts to buy out a chunk of its £45bn bailout.

Other costs that contributed to the bank’s colossal loss include restructuring costs of £238m and an impairment charge of £223m.

The bank said: “RBS remains on track with its plan to build a strong, simple, fair bank for customers and shareholders.”

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