LONDON - Part-nationalized Royal Bank of Scotland reported a widening first quarter loss on Friday as lower income, restructuring costs and sluggish asset sales showed the scale of problems still facing the lender.
The bank reported an attributable loss of 968 million pounds, up from 459 million pounds the year before and just higher than the 957 million pounds average estimate of 10 analysts surveyed by RBS.
Income dropped around 13 percent year on year to 3.06 billion pounds.
The spike in losses were also driven by a one-off 1.2 billion pound payment to end the British government's priority over dividends and a 238 million pounds restructuring bill.
That bill includes the mounting costs of separating its Williams & Glyn business, which the bank said it could fail to sell off before an end-2017 regulatory deadline.
RBS is struggling to return to health amidst an unprecedented corporate restructuring and has not made an annual profit since 2007.
RBS, which was rescued in a 46 billion pound taxpayer funded bailout during the 2007-09 financial crisis, is still 73 percent owned by the British government. This quarter's performance brings the total sum lost since the bailout to around 52 billion pounds. -Reuters
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔