LONDON: State-rescued Royal Bank of Scotland said Friday that it sank into a net loss of £1.384 billion ($2.28 billion, 1.726 billion euros) in the third quarter, after taking massive accounting charges.
The loss in the three months to September compared with a net profit of £1.226 billion in the same period of 2011, RBS said in a statement, adding it took another £400 million hit to compensate clients who were mis-sold insurance.
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