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PPI claims 'go on with to bump RBS profit'

The misselling of payment buffer insurance (PPI) is continuing to put into the Majestic Bank of Scotland's (RBS) profits, the unshaken revealed in its half-year results.

It reported a shrinkage of L1.5 billion during this timeframe, with substantive expenses including those resulting from the up to date computer modus operandi glitch, as glowingly as PPI claims and other missold pecuniary products.

How, operating profit in the interest of the RBS Union still crown L1,834 million, with chief supervision Stephen Hester claiming its results manifest the area is "more resilient than forward of, with numerous besides improvements underway".

In the duplicate direction of the year, the proprietorship increased its provisions benefit of PPI refunds by L135 million, delightful the cumulative amount resolving this dishonour will expense the lender to L1.3 billion.

A comprehensive of L700 million of this money had been paid by June 30th, the bank confirmed payment protection insurance .

"The clean-up costs from finished mistakes are steadily being gourmandize return behind us, while [they are] motionlessly outstanding," Mr Hester added.