Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, apologized for a technical fault that left customers unable to access accounts and offered to compensate those who have lost money.
Royal Bank of Scotland Group Plc expects its Ulster Bank unit, which has cost 14.3 billion pounds ($21.7 billion) to rescue, will return to profit by 2016 as the Irish lender eliminates jobs and closes branches.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, has pumped as much as 10 billion pounds ($15.7 billion) into its Irish unit since 2008 to absorb losses from the country’s real-estate bubble.
Irish government bonds rose, pushing 10-year yields to the lowest level in four months, as the country said it is preparing to exit the financial bailout program that it entered almost three years ago.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, has injected as much 770 million pounds ($1.24 billion) into its Ulster Bank unit to absorb losses from the collapse of Ireland’s real estate bubble.
Royal Bank of Scotland Group Plc, the owner of Ulster Bank Ltd., set aside less money in the second quarter to cover souring loans in Ireland as losses on the portfolio it’s trying to wind down dropped 80 percent.
Royal Bank of Scotland Group Plc said its Irish unit’s total impairment charge fell by 49 million pounds ($79.7 million) to 1.25 billion pounds in the second quarter from the previous three months, as defaulting loans decreased.