EMAIL
PRINT
RSS
SHARE
A Royal Bank of Scotland building in London April 7, 2009.
1 of 1 
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
LONDON - Royal Bank of Scotland made an operating loss of 1.5 billion pounds in the third quarter as it took 3.3 billion pounds of bad debts and profits at its investment bank arm more than halved from the previous quarter.
Part-nationalised RBS said impairment losses were down 30 percent from 4.7 billion in the second quarter and were showing signs of levelling off, but were expected to "remain at elevated levels for the next few quarters."
RBS said its operating loss more than halved from 3.5 billion pounds in the second quarter. It reported a statutory loss of 2.2 billion pounds for the third quarter.
RBS, which agreed to massive asset sales and a revised participation in a state-backed asset insurance plan on Tuesday that will see the UK holding rise to 84 percent, said operating profit for its global banking and markets business was 375 million pounds in the latest quarter, down from 1.1 billion in the second quarter.
(Reporting by Clara Ferreira-Marques and Steve Slater)
Shares in Lloyds Banking Group were up on the FTSE 100 after reports that its private equity arm would be buying a stake in social housing contra...
Lord Adonis, Transport Secretary, has announced today the government's plans to link up England with high-speed rail, in order to boost jobs...
© 2010 The IBTimes Company Ltd. All Rights Reserved.
Partners 
