After posting the rumour that Royal Bank of Scotland (RBS) were going to record the biggest losses in banking history earlier this week, they actually announced a pre-tax loss of £691m for the first half of this year. That’s almost £1.1 billion less than the
Times guessed, but what’s a billion here or there.
Meanwhile, to celebrate such a great result, RBS are hiring lots and lots of mortgage
advisors for their UK NatWest and RBS branches.
Obviously the credit crunch hasn’t worried them too much.
Mind you, there are many commentators who have picked up on the fact that RBS, Fortis and Bank of America have all suffered the curse of the ABN AMRO acquisition.