RBS slumps to loss after £900m hit from PPI
Image copyright AFP
Royal Bank of Scotland has swung to a loss in the third quarter after taking a hit from the cost of payment protection insurance.
The Edinburgh-based bank, in which the government owns a 62% stake, added its investment bank had a “particularly challenging” three months.
It reported a pre-tax loss of £8m for the July-to-September period after it took a £900m charge for PPI.
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