RBS posts Q3 loss of £469m on restructuring, litigation costs

London

ROYAL Bank of Scotland Group Plc, Britain's biggest government-owned lender, swung to a loss in the third quarter as the bank took £894 million (S$1.51 billion) in charges for restructuring and litigation.

The net loss of £469 million compared to a profit of £940 million a year earlier, the Edinburgh-based lender said in a statement on Friday. Pretax profit, excluding one-time costs, rose to £1.33 billion, beating the £776 million average estimate of seven analysts compiled by Bloomberg.