World, As Seen from the most beautiful islands: Ireland and Cyprus

Provision presses on RBS result


The British bank Royal Bank of Scotland (RBS) has made a substantial provision for a scandal around life insurance and disability insurance linked to loans such as mortgages. He sold the bank for years to customers who did not want or need those products. RBS, which is more than 62 percent in the hands of the British state, puts 900 million pounds aside.

This provision weighed heavily on the bank’s operating result. RBS recorded an operational loss of £ 8 million. Last year the bank was able to add a profit of 961 million euros in the third quarter. Revenues fell to £ 2.9 billion due to increased competition. RBS also has a relatively high exposure to bad corporate loans.

RBS does stick to its expectations for the entire year.

Written by: Liam O'Reilly

Liam O'Reilly is the founder of the publication, a former analyst at a major reputation agency in the UK, who chose Cyprus as his home.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

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