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PPI claims 'go on with to collide with RBS profit'

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

It reported a ruin of L1.5 billion during this timeframe, with consequential expenses including those resulting from the current computer structure glitch, as kind-heartedly as PPI claims and other missold pecuniary products.

Even so, operating profit in search the RBS Union quiet hit L1,834 million, with chief director Stephen Hester claiming its results tell the business is "more resilient than forward of, with numerous urge onwards improvements underway".

In the second-best direction of the year, the cartel increased its provisions respecting PPI refunds via L135 million, delightful the cumulative amount resolving this scandal discretion expense the lender to L1.3 billion.

A unconditional of L700 million of this cash had been paid at near June 30th, the bank confirmed ppi claiming .

"The clean-up costs from lifestyle mistakes are steadily being put behind us, although [they are] pacific weighty," Mr Hester added.