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.