After being rescued by the British Government in 2008, problems persist for the Royal Bank of Scotland Group Plc. Yesterday, it reported a net loss for the first half of the year of GBP1.04B, compared to a loss of GBP827M from a year ago.
Royal Bank of Scotland’s loss widened mainly due to a drastic increase in bad loan provisions to GBP7.52B, higher than all of its provisions for 2008. Unfortunately, the outlook on Royal Bank of Scotland remains depressing, as they expect to continue returning poor results until 2011.
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