RBS Reports GBP2bn Loss
Published / Last Updated on 22/02/2012
RBS Reports £2bn Loss.
The Royal Bank of Scotland (RBS) has reported an attributable loss of £2bn in 2011. On a pre-tax basis, last year's loss was £766m compared with £399m in 2010.
Two charges were behind the big loss last year - RBS had to set aside £850m to compensate people who bought payment protection insurance they didn't need. It also had to take a loss of £1.1bn on its investments on Greek government debt.