RBS slumps to £691m loss with £6bn credit crunch hit

[Legal Beagles]

'Chastened' bank takes £5.9bn credit crunch hit as it posts first loss in 40 years as a public company

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[Legal Beagles]

Royal Bank of Scotland apologises after reporting £691m loss

Credit crunch forces chastened bank to report first loss in its 40-year history as a public company

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[breeze1996]

Re: Royal Bank of Scotland apologises after reporting £691m loss

I really would like to know as I used to work for a big company.

If we knew we had a case against us and that we were more likely to lose, an account would be opened with a budget for the loses, this could then be included in the accounts.

Making us appear to have lost more money than we had, and if the paper loss was less than we finally had to pay we put it back as a profit.

So could part of theses fantastical loses not also be due to Bank Charges Refunded written in the accounts as money owed to crediters or just the charges to customer being less than expected?

[Legal Beagles]

Boss says sorry as Royal Bank of Scotland slumps to £700m loss

The boss of one of Britain's biggest banks apologised yesterday for a catastrophic loss caused by a near £6billion write-off of bad debts.

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