RBS reports loss but shows signs of improvement

The Royal Bank of Scotland swung to a loss in the third quarter as it continued to be hit by bad debts but reported an increase in underlying profit.

The banking group, 70% owned by the taxpayer, registered a pre-tax loss of £2.2bn for the three months to 30 September compared with a profit of £1.9bn in the same period last year.

The firm says it wrote off £3.3bn in bad debts in the quarter.

Excluding the losses, group operating profit rose 55% to £1.75bn.

Stephen Hester, chief executive of RBS says the results demonstate the “headwinds” the group still faces but he remains confident the bank will recover in the long-term.

Earlier this week, RBS announced it was to sell some of its brands and 318 branches.

RBS will dispose of branches in England and Wales, which originally operated under the Williams & Glyn’s brand until the 80s as well as selling off its NatWest brand in Scotland.

It will also sell its RBS Insurance portfolio, which includes the Direct Line, Churchill and Privilege brands and card payment business Global Merchant Services.

The move follows pressure from European competition commissioner Neelie Kroes, who demanded RBS sell some of their operations follwing its bail-out by the Government last year.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now


Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here