Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

PPI Charges: RBS posts net loss of £2bn

Payment Protection Insurance (PPI) claims and the Greek debt crisis have resulted in the Royal Bank of Scotland (RBS) posting a net loss of £2 billion in its 2011 full-year results.

Its pre-tax loss was £776 million and it set aside £850 million for PPI compensation.

RBS chairman Sir Phillip Hampton explained the board of directors at the bank believes running the firm on a commercial basis is the "best way" to make it more valuable and safer for the public.

If the company's aim is to give parliament the opportunity to offload its shares in the public market within a "reasonable alternative", he said he does not think there is a "workable alternative" to this strategy.

Currently, private investors hold 18 per cent of RBS shares but with "all being well", they will own most of the firm's equity capital in the future, he added.

Earlier this month, Mr Hampton and chief executive of the company Stephen Hester waived their bonuses in light of the public mood.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801300531-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide