Royal Bank of Scotland Group plc (RBS: Quote,RBS.L) said its second-quarter loss attributable to ordinary and B shareholders narrowed significantly to 466 million pounds, from 897 million pounds loss last year. Pre-tax loss also reduced to 101 million pounds, from 678 million pounds loss in 2011.
Group operating profit slipped 22% to 650 million pounds, from 833 million pounds a year before. Core operating profit for the quarter was 1.52 billion pounds, down 11% versus 1.70 billion pounds in the previous year.
The company added that a further provision of 135 million pounds in the recent quarter was recorded for Payment Protection Insurance claims, bringing the cumulative charge taken to 1.3 billion pounds, of which 0.7 billion pounds in redress had been paid by June 30, 2012.
Total net interest income was 2.97 billion pounds, lower than 3.23 billion pounds in the comparable period in 2011.
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by RTT Staff Writer
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