Royal Bank of Scotland incomes struck by expense of restructuring


Royal Bank of Scotland is reporting that third-quarter profits enhanced 6.3 percent as the British federal government begins to reduce its stake in the company bailed out throughout the 2008 monetary crisis.
The bank stated Friday that revenues enhanced to 952 million pounds ($ 1.5 billion), compared to 896 million pounds a year formerly.
The bank put restructuring expenses at 847 million pounds, up from 167 million a year previously, while the expenses of litigation and previous conduct issues, mainly related to mortgage-backed securities, was up to 129 million pounds from 780 million pounds.
RBS states the future costs “may be substantially greater” than those presently reported.
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