RBS bank reports losses of £2.2bn

[PGH7447]

BBC NEWS | Business | RBS bank reports losses of £2.2bn


Royal Bank of Scotland Group, which is 70%-owned by taxpayers, has reported a pre-tax loss of £2.2bn for the three months to the end of September. It compares with a profit of £1.9bn in the same period last year.
RBS has written off another £3.3bn in bad debts and other bad investments, which is down from the £4.7bn it wrote off in the previous three months.
The bank said that conditions had improved in the past three months but that they "remain fragile".

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But still managed to protect the bonus pot for their overpaid / underachieving brokers and managers

[BankFodder]

Hmm, where on earth are they going to find all that money to repay bank charges, then?

[rickyd]

From the new fees they are working on right now. Prepare to say goodbye to free banking everyone!

Re bonuses - don't blame your local branch staff, most of them are kacking themselves about keeping their jobs next year and nobody in branches is in line for any kind of bonus, pay rise etc.

Spare a thought about how they feel knowing that others in RBS are getting pretty monster bonuses (and don't mention Fred!)

(for info - I have a couple of friends who work in RBS branches who can give me the odd snippet of useful info)

[PGH7447]

Credit Today online

RBS reveals £3.3bn loan losses - 06/11/2009

Royal Bank of Scotland has revealed losses of £3.3bn against bad debts and investments for the third quarter, a drop from the £4.7bn charge it suffered in the previous three months.

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Crudit Toady gets it figures from different sources then

[rickyd]

Originally Posted by PGH7447

RBS reveals £3.3bn loan losses - 06/11/2009

Royal Bank of Scotland has revealed losses of £3.3bn against bad debts and investments for the third quarter, a drop from the £4.7bn charge it suffered in the previous three months.

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Crudit Toady gets it figures from different sources then

Eh?

Credit Today says that they've written off £3.3bn compared to £4.7bn previously and declared a £2.2bn pre-tax loss - where's the contradiction?

[PGH7447]

its the way its written/reported between the different agencies

[rickyd]

Yes, I see what you mean. It all depends how the editor wants it to read. My personal favourite niggle is the use of the word "fury" when the papers mean "angry" or "annoyed".

I guess its all down to making headlines and the truth can often be boring.

[PGH7447]

exactly, which is why when the rags get a story they glorfiy the headlines