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URGENT ¥¥¥ Royal Bank of Scotland posts 2012 net loss of £5.971 billion

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(Globalpost/GlobalPost)

State-rescued Royal Bank of Scotland said Thursday that net losses almost tripled to £5.97 billion ($9.05 billion, 6.89 billion euros) in 2012, when it was hit by compensation payouts and a Libor fine.

The vast loss after taxation compared with a shortfall of £1.997 billion in 2011, the lender announced in a results statement, adding that 2012 had been a "chastening" year during which it sought to "put right past mistakes".

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http://www.globalpost.com/dispatch/news/afp/130228/urgent-royal-bank-scotland-posts-2012-net-loss-5971-billion