Bank Cuts Loses by More Than Half

Express & Echo (Exeter, UK) › February 25, 2011

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Summary

PART-nationalised Royal Bank of Scotland said its recovery was ahead of schedule as its annual losses fell by more than half.

RBS, which is 83 per cent owned by the taxpayer, posted losses of Pounds 1.1 billion in 2010 against a Pounds 3.6 billion loss in 2009. The bank clawed its way out of the red in the final three months of the year, with Pounds 12 million in profits, thanks to sharply lower losses on loans turned sour.

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Bank Cuts Loses by More Than Half

Chief ex...

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