The Royal Bank of Scotland has had its fourth consecutive pre-tax loss since being bailed out by the tax payer in 2008. The loss for the year comes to a total of £2 billion, an increase of £900 million on last year.
Within the last year loan defaults on all sectors within the group’s core business has increased by
£1.4 billion. Loans and advances classified as core were down year on year (excluding 3 sectors). Net loans made have decreased in the last year by £18.5 billion.
£1.4 billion. Loans and advances classified as core were down year on year (excluding 3 sectors). Net loans made have decreased in the last year by £18.5 billion.
There has been a year on year increase of 800 staff in their Integration and Restructuring division. December of 2010 saw 300 team employees whereas in December 2011 the number was up to 1100.
Senior associate of Beer & Young comments: The fact that RBS have had to increase their recovery staff so significantly shows how many more clients must be at risk. If your company is struggling from financial difficulties please give Beer & Young a call today
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