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PPI claims 'continue to impact RBS profit'

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

It reported a shrinkage of L1.5 billion during this timeframe, with consequential expenses including those resulting from the fresh computer system glitch, as well as PPI claims and other missold fiscal products.

Even so, operating profit appropriate for the RBS Group until now crown L1,834 million, with chief executive Stephen Hester claiming its results tell the business is "more resilient than forward of, with many besides improvements underway".

In the second direction of the year, the decisive increased its provisions respecting PPI refunds via L135 million, taking the cumulative amount resolving this innuendo make set someone back the lender to L1.3 billion.

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

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