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The Royal Bank of Scotland Group plc Message Board

  • ishortsstocks ishortsstocks Feb 27, 2014 7:52 AM Flag

    RBS POSTS BIGGEST LOSS SINCE GOVERNMENT BAILOUT

    RBS's net losses widen to £9B. RBS's (RBS) net losses deepened to £9B from £6.06B a year earlier, hurt by the setting aside of £3.8B for compensating clients for the mis-selling of products, and £4.8B of other impairments and provisions. Revenue dipped 12% to £19.44B. RBS intends to slash £5B ($8.34B) of costs during the next five years and cut jobs as part of a restructuring in which it will refocus on its U.K. activities and merge seven units into three.

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RBS
11.18-0.240(-2.10%)Jan 28 4:02 PMEST

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