Menu
03/08/2012
RBS Sets Aside £125m For Compensation
Royal Bank of Scotland (RBS) reserved £125m to pay compensation customers affected by the account crisis caused by computer system failure.
Account holders at RBS, NatWest and Ulster Bank were unable to use their accounts as normal for weeks on end before the error was fixed last month.
A sum of £135m has also been set aside to cover compensation for customers who were mis-sold payment protection insurance plus £50m to cover claims from small businesses who were mis-sold interest rate swaps.
RBS reported a half-year loss of £1.5bn, compared with £794m year -on -year, revenues for the six months to 30 June fell 8% to £13.2bn.
Speaking to BBC Radio 4's Today programme RBS chief executive Stephen Hester told : "It is a pretty tough external environment, but I think we are making good progress."
Mr Hester added in a statement: "We have continued to make the bank safer and stronger as we clean up problems of the past.
"And despite the tougher economy, these results show our ongoing businesses to be more resilient than before, with many further improvements underway."
(GK)
Account holders at RBS, NatWest and Ulster Bank were unable to use their accounts as normal for weeks on end before the error was fixed last month.
A sum of £135m has also been set aside to cover compensation for customers who were mis-sold payment protection insurance plus £50m to cover claims from small businesses who were mis-sold interest rate swaps.
RBS reported a half-year loss of £1.5bn, compared with £794m year -on -year, revenues for the six months to 30 June fell 8% to £13.2bn.
Speaking to BBC Radio 4's Today programme RBS chief executive Stephen Hester told : "It is a pretty tough external environment, but I think we are making good progress."
Mr Hester added in a statement: "We have continued to make the bank safer and stronger as we clean up problems of the past.
"And despite the tougher economy, these results show our ongoing businesses to be more resilient than before, with many further improvements underway."
(GK)
Related UK National News Stories
Click here for the latest headlines.
13 June 2013
2,000 More Jobs To Be Cut By RBS
Some 2,000 jobs are to go at the Royal Bank of Scotland in the next 18 months, the financial institution has said. Jobs are expected to cut worldwide, but it is not yet known how many will be effected in the UK. The latest round of cuts will be bring the total job loses at the bank to 41,000 since 2008.
2,000 More Jobs To Be Cut By RBS
Some 2,000 jobs are to go at the Royal Bank of Scotland in the next 18 months, the financial institution has said. Jobs are expected to cut worldwide, but it is not yet known how many will be effected in the UK. The latest round of cuts will be bring the total job loses at the bank to 41,000 since 2008.
29 June 2012
RBS Boss Turns Down Bonus Again
The Chief Executive of the Royal Bank of Scotland has waived his bonus for this year following the RBS computer failure that left many customers unable to access their accounts.
RBS Boss Turns Down Bonus Again
The Chief Executive of the Royal Bank of Scotland has waived his bonus for this year following the RBS computer failure that left many customers unable to access their accounts.
25 February 2010
RBS Posts Losses
The Royal Bank of Scotland (RBS) made losses of £3.6bn last year, results published today have revealed. According to the bank, it had experienced billions of pounds worth of bad loans. However, over £1.3bn of staff bonuses are still expected to be paid out.
RBS Posts Losses
The Royal Bank of Scotland (RBS) made losses of £3.6bn last year, results published today have revealed. According to the bank, it had experienced billions of pounds worth of bad loans. However, over £1.3bn of staff bonuses are still expected to be paid out.
18 September 2012
Co-Op Urge More Banks To Help Bankrupt Customers
The managing director of the Co-Operative’s retail banking has blamed other banks' unwillingness to offer services to bankrupt customers for its decision to end it own services. Co-operative Bank decided to stop offering basic banking services to new customers who are undischarged bankrupts.
Co-Op Urge More Banks To Help Bankrupt Customers
The managing director of the Co-Operative’s retail banking has blamed other banks' unwillingness to offer services to bankrupt customers for its decision to end it own services. Co-operative Bank decided to stop offering basic banking services to new customers who are undischarged bankrupts.
03 April 2013
Investors Submit £3.5bn RBS Compensation Claim
Thousands of investors have launched a joint compensation claim against the Royal Bank of Scotland. The claim is for more than £3.5bn. The group claims the bank deliberately misled its shareholders into believing it was in good financial health, just before the organisation collapsed in 2008.
Investors Submit £3.5bn RBS Compensation Claim
Thousands of investors have launched a joint compensation claim against the Royal Bank of Scotland. The claim is for more than £3.5bn. The group claims the bank deliberately misled its shareholders into believing it was in good financial health, just before the organisation collapsed in 2008.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
