RBS posts 1.04 billion pounds loss

The entity, recorded a loss of 1.04 billion pounds in the first half of this year, as against a loss of 827 million pounds in the year ago period. Reflecting the adverse financial climate, RBS’ impairment charges in the first six months shot up to 7.5 billion pounds and has warned the same would stay higher “for a while.” About the outlook, RBS Group Chief Executive Stephen Hester said that results may not significantly improve until 2011.

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