Arab Today, arab today rbs loses £05 bn in q1 on high charges
Last Updated : GMT 22:34:38
Arab Today, arab today
Arab Today, arab today

RBS loses £0.5 bn in Q1 on high charges

Arab Today, arab today

Arab Today, arab today RBS loses £0.5 bn in Q1 on high charges

LONDON - AFP

Royal Bank of Scotland said on Friday that its net loss more than doubled to £528 million (594 million euros, $866 million) in the first quarter as the state-rescued bank was hit by large charges. The loss after tax for the three months to March 31 compared with a net loss of £248 million in the first quarter of 2010, RBS said in an earnings statement. RBS is 83 % owned by the British government after a state-bailout triggered by the 2008 global financial crisis. It said on Friday that the net loss came after RBS was hit by a charge of £469 million linked to the government\'s Asset Protection Scheme (APS), or insurance scheme set against risky assets. However the bank\'s underlying performance showed improvement, with operating profit rising 19 % to £1.05 billion in the first quarter of 2011. \"RBS first quarter results show progress continuing,\" the bank\'s chief execuitve Stephen Hester said in the earnings statement. \"We are strongly focused on serving customers well while building capabilities to improve further. Financial strength and resilience continue to show sharp improvement as core business profitability broadens and non-core risks are reduced. \"This recovery is also allowing us to absorb higher Irish impairments and substantially increased regulatory demands, and to self-fund other \'bills from the past\' such as restructuring, disposals and the cost of APS support,\" Hester added. Shares in RBS were up 3.0 % at 41.73 pence in early trading on London\'s benchmark FTSE 100 index, which was down slightly. \"Given the headwinds of increasing Irish impairments, APS repayments and a revaluation of its own debt, the update actually implies some improving prospects for the beleaguered bank,\" said Richard Hunter, head of UK equities at Hargreaves Lansdown Stockbrokers. \"In all, there are some signs that the recovery continues at RBS, even if numerous and significant hurdles remain. The share price performance has reflected this plethora of risks, having dropped 20 % over the last year as compared to a 13 % gain for the wider FTSE 100,\" he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rbs loses £05 bn in q1 on high charges Arab Today, arab today rbs loses £05 bn in q1 on high charges

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday