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PPI Claim News - 6/11/2009

RBS reports big losses

The Royal Bank of Scotland (RBS) has reported huge losses in its third quarterly report of 2009.

In a statement, the bank admitted to making an operating loss of £1.52 billion.

Stephen Hester, group chief executive of RBS, indicated that the journey to repair the bank to its status before the recession would take "some years".

"We owe it to everyone to be realistic and transparent. Economic recovery is likely to be slow and the pain of economic adjustment will take years to subside," he said.

"Our business will reflect these issues. Profitability in our core business will recover fully only when our own actions are also complemented by more normal interest rates and bad debt experience."

Mr Hester said that generally he was "upbeat, though realistic".

Earlier this week it was announced that RBS would be selling off hundreds of its branches by order of the European Commission.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.


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