Penalties and charges plunge RBS into Q2 loss

Tracker probe charge also affects Ulster Bank figures

5th August, 2016
Probes and law suits affect RBS and Ulster Bank results Pic: Getty

Royal Bank of Scotland, Britain’s largest taxpayer-owned lender, posted a larger loss than estimated in the second quarter as it set aside more money to cover a lawsuit over its 2008 share sale.

The net loss of £1.08 billion compared with a £280m profit a year earlier, and was bigger than analysts had expected. The loss was driven by £1.28 billion of penalties and litigation charges, mostly tied to the rights issue lawsuit and...

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