RBS posts £1.4bn Q1 loss!

Royal Bank of Scotland (RBS) has posted a £1.4 billion pre-tax loss for the first quarter of 2012, compared with a loss of £116 million a year earlier and a pre-tax loss of £1.97 billion in the final quarter of 2011.
However, the group came in with operating profit of £1.18 billion for Q1 2012 compared with a loss of £144 million in the previous quarter.

Impairment losses totalled £1.31 billion, down 33% year-on-year and 22% from Q4 2011.

The bank’s loan to deposit ratio stood at 106%, compared with 108% at 31st December 2011 and 116% at 31st March 2011, and short-term wholesale funding was reduced by £23 billion, to £80 billion.

According to a BBC report, RBS has now settled in full the £163 billion in loans it received from HM Treasury and the US Federal Reserve at the height of the financial crisis.

Source:
bankingtimes.co.uk