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PPI Claim News - 22/2/2010

Payment Protection Insurance: Major loss predicted for RBS

The state funded Royal Bank of Scotland (RBS) is expected to report huge financial losses for 2009.

On Friday the bank will release its annual report for the previous financial year, with many analysts expecting the figure to reach around £5 billion.

RBS is now 84 per cent owned by the taxpayer following a string of bail outs, so there will be great anticipation among the public to confirm the situation of the bank.

As a result of the bank's diminishing funds, RBS chief executive Stephen Hester has announced he is to forgo his bonus for 2009, which could amount to around £1.6 million.

RBS's predicted losses come after the non state financed Barclays Bank reported annual profits of £11.6 billion for 2009, a 92 per cent increase on the previous year.

Little over a week ago, Steve Ashley, head of RBS trading division, and senior salesman Chris Fleming stepped down from their positions at the bank over after allegedly being frustrated with the regulations facing their pay packages.

If you would like to get your payment protection insurance back - PPI Claim from RBS then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19627679-ADNFCR

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