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RBS Posts Further Loss

RBS Posts Further LossRBS Posts Further Loss

Royal Bank of Scotland Group Plc, Britain’s largest taxpayer-owned lender, reported its eighth annual loss since taking a bailout at the height of the financial crisis, driven by costs for past misconduct, Bloomberg reported. The net loss narrowed to £1.98 billion ($2.77 billion) in 2015 from £3.47 billion a year earlier, the Edinburgh-based lender said in a statement on Friday. Pretax profit excluding conduct and litigation charges and restructuring costs fell about 28% to £4.41 billion, missing the £4.45 billion average estimate in a company-compiled survey of seven analysts. RBS last posted net income in 2007.

Financialtribune.com