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RBS raises PPI claims bill by a further £400m

2nd November 2012

Royal Bank of Scotland has set aside a further £400m to cover the cost of claims for mis-sold payment protection insurance.

It takes the bank's total charges for PPI mis-selling to £1.7bn.

The figures were disclosed as RBS reported a pre-tax loss of £1.26bn for the three months to 30 September, against a £2bn profit in 2011.

The bank, which is 80% owned by the UK government, has also set aside another £50m to cover the cost of compensation of the recent computer systems failure that hit customers.

Posted in RBS, PPI, UK, Banking, PPI Scandal

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