Royal Bank of Scotland today reported a loss of £634m before tax in the third quarter, undershooting estimates by some way, while it also announced plans to create an "internal" bad bank to run down its book of bad loans.
The bank - 81%-owned by the Government - said it had identified £38bn of bad loans to put into an internal bad bank, up to 70% of which it expects it can whittle down over the next two years. However,...
Effective 2 March 2020
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