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PPI claims 'persevere in to effect RBS profit'

The misselling of payment sanctuary warranty (PPI) is continuing to eat into the Prince Bank of Scotland's (RBS) profits, the firm revealed in its half-year results.

It reported a loss of L1.5 billion during this timeframe, with substantial expenses including those resulting from the fresh computer modus operandi glitch, as kind-heartedly as PPI claims and other missold fiscal products.

In spite of that, operating profit appropriate for the RBS Group still crown L1,834 million, with chief governing Stephen Hester claiming its results show the business is "more resilient than before, with many urge onwards improvements underway".

In the second ninety days of the year, the proprietorship increased its provisions for PPI refunds on L135 million, engaging the cumulative amount resolving this scandal make cost the lender to L1.3 billion.

A comprehensive of L700 million of this cash had been paid at near June 30th, the bank confirmed money online .

"The clean-up costs from lifestyle mistakes are steadily being gourmandize return behind us, although [they are] still important," Mr Hester added.