Royal Bank Of Scotland Takes Another $5 Billion Charge

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Royal Bank Of Scotland Takes Another $5 Billion Charge

by Wochit 0:34 mins

Royal Bank Of Scotland Takes Another $5 Billion Charge

by Wochit 0:34 mins

Hopes for a turnaround in Royal Bank of Scotland, the nationalized U.K. bank, took a hit Monday when the lender said it set aside 3 billion pounds (or $5 billion) more to cover U.S. legal costs and customer compensation claims in Britain. The bank, which is 80 percent owned by the taxpayer, announced the decision in a statement issued a month ahead of its full year results. Chief Executive Ross McEwan said at the time of the crisis, the bank was involved in a number of businesses that have since come under scrutiny by regulators.

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