Royal Bank of Scotland Prints $3 Billion loss (RBS)

Fri. November 06, 2009; Posted: 07:23 AM

Nov 06, 2009 (SmarTrend(R) News Watch via COMTEX) -- RBS | Quote | Chart | News | PowerRating -- 11/6/2009-Royal Bank of Scotland Group (NYSE:RBS) reported a Q3 net loss of 1.8 billion pounds (USD$3 billion) Friday morning despite improvement in core profits and increased lending.

The bank reported total income for the three months ending on September 30 came in at 7.1 billion pounds, down from 8.6 billion pounds in the year-ago period.

RBS reported impairment charges of 3.3 billion pounds, but excluding those charges, the government controlled bank's operating profit increased by 55% to 1.75 billion pounds.

The company reported adjusted Tier 1 capital ratio of 11.1% at the end of the quarter.

The company's Chief Executive Stephen Hester said a full recovery from its near bankruptcy a year-ago, could take years.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on The Royal Bank of Scotland Group PLC (RBS) click here. The Royal Bank of Scotland Group PLC (RBS) has Short Term PowerRatings of 8. Details on The Royal Bank of Scotland Group PLC (RBS) Short Term PowerRatings is available at This Link.

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