The Royal Bank of Scotland just revealed that it made a £446 million ($US687 million) loss in the first quarter this year.This is on top of the £3.5 billion ($US5.4 billion) it lost in 2014.
It just can’t stop haemorrhaging money.
It can largely blame its loss on spending £856 million ($US1.31 billion) on litigation costs.
Other highlights from the report include:
- Total income up 12% from Q4 2014: £4.331 billion.
- Operating expenses down 11% compared with Q4 2014: £4.097 billion.
- Operating profit was £325 million compared with a loss of £375 million in Q4 2014.