RBS feels pain of Ulster Bank losses

AIB was not the only bank to reveal fresh woes arising from the Irish property meltdown last week. The Irish subsidiaries of Royal Bank of Scotland (RBS) and Lloyds Banking Group announced hefty losses as the misadventures of past lending decisions c

8th August, 2009

AIB was not the only bank to reveal fresh woes arising from the Irish property meltdown last week. The Irish subsidiaries of Royal Bank of Scotland (RBS) and Lloyds Banking Group announced hefty losses as the misadventures of past lending decisions came home to roost.

RBS subsidiary Ulster Bank reported half-year losses of £8 million (€9 million), largely driven by impairment charges of more than £150million.This failed to tell the full story of Ulster’s woes,...

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