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PPI claims 'extend to effect RBS profit'

The misselling of payment protection surety (PPI) is continuing to sup into the Kinglike Bank of Scotland's (RBS) profits, the unyielding revealed in its half-year results.

It reported a loss of L1.5 billion during this timeframe, with substantive expenses including those resulting from the recent computer scheme glitch, as understandably as PPI claims and other missold economic products.

In spite of that, operating profit appropriate for the RBS Assembly up till hit L1,834 million, with chief director Stephen Hester claiming its results accord the business is "more resilient than before, with divers besides improvements underway".

In the second shelter of the year, the proprietorship increased its provisions respecting PPI refunds by L135 million, delightful the cumulative amount resolving this shame commitment expense the lender to L1.3 billion.

A full of L700 million of this moolah had been paid aside June 30th, the bank confirmed mis sold payment protection .

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