		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="1">
		</amp-ad>
				</div>
			</div>
		</div><p>Royal Bank of Scotland has tumbled to a loss in the third quarter after taking a £900 million hit for payment protection insurance (PPI) claims.</p>
<p>The part-nationalised lender reported pre-tax operating losses of £8 million for the three months to September 30, down from £961 million a year ago.</p>
<p>It posted attributable losses of £315 million, against profits of £448 million a year earlier.</p>
<p>RBS – still 62% owned by the Government – blamed losses on the £900 million bill for PPI following a last-minute surge in claims ahead of the August 29 deadline, as well as a “particularly challenging” quarter for its investment banking arm.</p>
<p>Despite the third-quarter losses, RBS said it remained on track for full-year expectations in “uncertain times”.</p>
<p>The group said operating profits stood at £2.7 billion for the nine months of the year so far, down slightly on the £2.8 billion reported a year ago.</p>
<p>The figures mark the last for boss Ross McEwan before he hands over to the lending giant’s first female chief executive.</p>
<p>Mr McEwan leaves on October 31, paving the way for Alison Rose to make history as the first woman to run one of Britain’s biggest high street banks.</p>
<p>Chief financial officer Katie Murray said: <em>“These results demonstrate our solid underlying performance in a tough operating environment.</em></p>
<p><em>“We have seen strong growth across the business and our sustained high levels of capital and liquidity mean we are well positioned to support our customers in these uncertain times.”</em></p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed2c3098783">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed2c3098783',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
