BRITAIN: #RBS Makes another massive loss as it now as so many wants to blame #Brexit instead of bad management if it was the fault of the EU Leave campaign then why does their loses go back to 2007 – If you cannot do the job get rid don’t carry – @AceFinanceNews

#AceFinanceNews – Aug.05: Brexit fallout looms large over RBS as losses, costs mount


Royal Bank of Scotland on Friday reported wider first-half losses, 1.3 billion pounds of new litigation charges and axed plans to turn its Williams & Glyn unit into a stand-alone bank, as it braces for post-#Brexit shocks to the UK economy.

RBS, which has not made an annual profit since 2007, booked 2.05 billion pounds ($2.69 billion) of losses for the first half of 2016, up from a 179 million pounds loss in the first half last year.

Chief Executive Ross McEwan is battling to complete a vast restructuring of the taxpayer-backed bank, which includes a raft of asset sales, job cuts and multi-billion dollar charges to settle litigation and pay regulatory fines for past misconduct.

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