Showing posts with label Subprime crisis still haunts RBS. Show all posts
Showing posts with label Subprime crisis still haunts RBS. Show all posts

Thursday, January 26, 2017

Subprime crisis still haunts RBS

Royal Bank of Scotland will take another financial hit when it sets aside a further $4bn  for fines.

It has now put nearly $10bn in the kitty to pay a monster fine to the US Department of Justice.

It relates to the bank's role in the selling of risky mortgages - the so called subprime crisis - which was at the epicentre of the financial crisis.

This will plunge RBS, 72% owned by the public, further into the red.