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  • Video: Royal Bank Of Scotland Group PLC (RBS) Confirms £163bn Emergency Loan Repayment Despite A Pre-tax Loss Of £1.4bn. 0 comments
    May 4, 2012 6:40 AM

    Royal Bank of Scotland Group PLC (RBS) confirms £163bn emergency loan repayment despite a pre-tax loss of £1.4bn. http://bit.ly/IIOcwR

    RBS Chief Executive Stephen Hester unveiled Q1 results showing what he described as a "rock solid" performance within much of its core business in the quarter. At the same time he announced that, as of next week, RBS will have finally paid back its UK central bank support - an important milestone in its efforts to restore the fortunes of the bank. The bank reported a pre-tax loss of £1.4bn, compared with a loss of £116m in the same period last year. Much of the loss came from changes in the valuation of RBS's debt. It made an operating profit of £1.2bn, but will set aside a total of £1.2bn for payment protection insurance compensation.

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