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RBS Slips To Loss In Q3, Income Down; Retains Outlook - Quick Facts

(RTTNews) - The Royal Bank of Scotland Group plc or RBS (RBS, RBS.L) reported Thursday that its third-quarter net loss attributable to ordinary shareholders was 315 million pounds, compared to last year's profit of 448 million pounds.

Loss per share were 2.6 pence, compared to profit of 3.7 pence a year ago.

RBS reported an operating loss before tax of 8 million pounds, compared with an operating profit of 961 million pounds a year earlier. The company said the latest quarter results included a 900 million pounds provision in respect of Payment Protection Insurance or PPI.

Total income for the quarter declined to 2.90 billion pounds from 3.64 billion pounds a year ago. Net interest income declined to 2.01 billion pounds from last year's 2.15 billion pounds.

Group income was impacted by a particularly challenging quarter in NatWest Markets or NWM, which reported 44.4 percent lower core income in the quarter to 184 million pounds.

Across the retail and commercial businesses, income decreased 3.1 percent.

Further, the company retained its outlook for 2019 and 2020 provided earlier.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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