Flawed takeover bids,bad lending, and a tower of legal bills enjoy left the Royal Bank of Scotland deep in the redSir Howard Davies, or chair of Royal Bank of Scotland,described the £7bn loss the bank rang up final year as “stark”. But it is just a fraction of the bank’s towering total losses of £58bn over the nine years since it was bailed out by the taxpayer. And the bank will rack up even more losses this year. Related: RBS braced for multi-billion-pound settlement for loan-misselling scandal Related: Treasury plan may allow RBS to avoid selling 300 branches Continue reading...
Source: theguardian.com