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PPI, Loans And Write-Downs Cause RBS To Make Loss For 2015

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LONDON, UK - JANUARY 27, 2015: City of London, business and bank

It is being reported that The Royal Bank of Scotland has reserved an additional £2.5bn to cover the costs of its role in the Payment Protection Insurance (PPI) scandal, as well as the legal bills, low interest rates and compensation payments. Shortly before the release of the bank’s 2015 financial results, these are all thought to affect the banks results.

Because of these extra fees, it has been confirmed by RBS bosses that the bank will have run at a loss for 2015. This will mean the bank has been in the red for eight consecutive years.
It is being reported that The Royal Bank of Scotland has reserved an additional £2.5bn to cover the costs of its role in the Payment Protection Insurance (PPI) scandal, as well as the legal bills, low interest rates and compensation payments. Shortly before the release of the bank’s 2015 financial results, these are all thought to affect the banks results.

Because of these extra fees, it has been confirmed by RBS bosses that the bank will have run at a loss for 2015. This will mean the bank has been in the red for eight consecutive years.

A further £500m has been set aside for PPI mis-selling claims. This means the total amount which they have paid and provided for has now touched £4.3bn.

Since the announcement of the PPI deadline at some point in 2018, banks have been preparing for an influx of claims. On top of this, regulators are planning on an advertising campaign, funded by the banks to help let people effected by PPI know of the deadline.

Even with a deadline almost set, there is still time to get a PPI claim submitted and to get the compensation you deserve. Perhaps you’re unsure whether you were mis-sold PPI, if so we’d be happy to answer any questions you may have. If you’d like to ask us anything, you can call us on either 0800 6127958 or send an email to info@enjayclaims.co.uk.

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