Yesterday I wrote about Lloyds upping its PPI claims provision, today it's the turn of RBS.
Royal Bank of Scotland this morning reported a £1.38BN Q3 loss after taking a £400M provision against the cost of payment protection insurance compensation costs, for good measure it also booked a £1BN charge against the value of its own bonds.
The Telegraph reports that the
total amount of money put aside by the bank to pay claims now stands at £1.7BN, having paid out £1BN thusfar.
RBS said that it was possible the cost of PPI compensation could grow further