RBS Paying Back Its Taxpayer Debts

RBS Paying Back Its Taxpayer Debts.

Royal Bank of Scotland (RBS) is to repay the last of the £163bn in emergency loans it received from the UK and US governments.  

RBS has reported its first quarter results of a pre-tax loss of £1.4bn, compared with a loss of £116m in the same period last year.

RBS has also set aside an extra £125m to cover claims for PPI mis-selling and has also announced that it will resume paying dividends on preference shares, which were suspended for two years under state aid rules.

According to RBS chief executive Stephen Hester, the start of 2012 has shown pleasing progress and that repaying emergency loans and resuming dividend payments were important milestones for the first job.