RBS follows Barclays, sets aside £400 million for forex probe

RBS follows Barclays, sets aside £400 million for forex probe

Friday, October 31, 2014 8:33 am


Royal Bank of Scotland

Britain’s state-owned Royal Bank of Scotland has set aside £400 million ($639 million, 509 million euros) to settle allegations of price-rigging in foreign exchange markets, it said Friday, a day after Barclays also charged its account with a pre-emptive £500 million.

RBS also revealed in a results statement that net profits rebounded to £896 million in the three months to the end of September, buoyed partly by cost-cutting, after a net loss of £828 million in the same part of last year.

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