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

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

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

How, operating profit in search the RBS Group quiet cuff L1,834 million, with chief director Stephen Hester claiming its results manifest the concern is "more resilient than forward of, with numerous urge onwards improvements underway".

In the second ninety days of the year, the proprietorship increased its provisions for PPI refunds by L135 million, entrancing the cumulative amount resolving this dishonour will cost the lender to L1.3 billion.

A total of L700 million of this cash had been paid at near June 30th, the bank confirmed missold payment protection .

"The clean-up costs from finished mistakes are steadily being explain behind us, in spite of [they are] still outstanding," Mr Hester added.