Royal Bank of Scotland has set aside additional 400 million pounds for the PPI claims. Chief Executive Stephen Hester informed that the bank has 1.7 billion pounds to cover the cost of claims for mis-sold insurance to consumers.
RBS has 80% UK government holding. Mr. Stephen Hester said that the bank is progressing in the right direction, despite the losses. The bank has also set aside additional 50 million pounds to compensate consumers who suffered due to computer system failure, taking the total figure to 175 million.
Not considering the write-offs and other charges, RBS has generated additional 1 billion pounds in profit during the first three quarters of current financial year at 2.9 billion. RBS also expects to finish with the restructuring within next 18 months.
The bank also expects to settle the Libor scandal issue with regulators within a month. Lloyds and HSBC are also facing trouble due to alleged involvement in Libor scandal.
Independent studies have shed light on the fact that there has been climbing rate of deaths in Kenyan hospitals.
According to the doctors, such cases have increased in large numbers in recent times. 30% of people who visit the doctors are getting killed because of the wrong diagnosis. The ones who are saved go for the second opinion from...
At 11.10 pm, Barack Obama recorded a historic win by defeating his rival, Mitt Romney by 100 votes. Obama was given 303 electoral votes by the major networks, while Romney got 203.
Obama, the first African American President, was elected...
Objections have been imposed against Cathay Pacific Airways and Virgin Atlantic by the U.K....
A recent report has confirmed that former Warriors captain Peter Ndlovu would be sent to England...
Average price of gasoline has fallen by six cents since past two weeks and further plunge in the price is expected in the coming days.
The decrease is first in the prices since December. According to reports by the Lundberg Survey of fuel...
As per the revelations of a new report, New York Attorney General Eric Schneiderman has been...
A new survey by Newcastle researchers includes a study of experience of the new mothers. This is...
A second meteorite landed in one of the towns of...
A pair of white dwarf stars has been recently discovered...
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