Archive For February 27, 2017

RBS records £4bn loss, as SMEs chase lawsuit

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RBS records £4bn loss, as SMEs chase lawsuit Credit Strategy, 27.02.17   The bank’s pre-tax profit hit a deficit of £4bn for the full year of 2016 compared to a loss of £2.7bn the year before.   Ross McEwan, chief executive of RBS, said this reflected charges for outstanding litigation and conduct costs as well…

Whistleblower’s RBS £128m court battle… says troubled bank will dishonour his allegations

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Whistleblower’s RBS £128m court battle… says troubled bank will dishonour his allegations This Is Money, 26.02.17   A whistleblower has warned that RBS will try to silence him in a courtroom showdown over its infamous company rescue unit.   Neil Mitchell says his IT firm Torex was pushed into administration by the Global Restructuring Group,…

Ulster Bank writing to SMEs due automatic fee refunds

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Ulster Bank writing to SMEs due automatic fee refunds Independent Ireland, 25.02.17   Ulster Bank has begun contacting small business customers it thinks are due refunds of complex charges levied by its Global Restructuring Group, a unit within the bank that dealt with customers in financial distress between 2008 and 2013.   The GRG unit…

Royal Bank of Scotland’s losses widen to £7bn for 2016

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Royal Bank of Scotland’s losses widen to £7bn for 2016 as mis-selling charges take their toll City AM, 24.02.17   Royal Bank of Scotland (RBS) has announced a multi-billion pound loss for the year to the end of December due to misconduct charges and restructuring costs, making 2016 its ninth straight year of losses.   The figures: The…

Ross McEwan promises brighter future, but when?

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RBS: Ross McEwan promises brighter future, but when? Channel 4, 24.02.17   Another year, another grim performance from RBS, this time racking up a further £7 billion in losses, more than triple the £2 billion from a year ago. Capital ratios – a measure of a bank’s strength – are down and litigation and misconduct…

RBS accused of ‘systemic’ fraud and forgery

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RBS accused of ‘systemic’ fraud and forgery The Week, 16.02.17   Royal Bank of Scotland stands accused of “systemically manipulating documents to cover up wrongdoing”, says the BBC.   The bank is facing claims from a number of businesses that it forced them into financial distress and even caused them to fail.   But there…

RBS faces legal action over fake complaints and forgery claims

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RBS faces legal action over fake complaints and forgery claims Money Marketing, 16.02.17   Royal Bank of Scotland has been accused of deliberately forging documents and is being sued by 300 firms over the issue, according to the BBC.   The BBC says several former RBS business clients allege the bank tampered with documents.  …

Mark Wright accuses RBS of falsifying files to hide misconduct

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Former bank manager Mark Wright accuses RBS of falsifying files to hide misconduct The National, 16.02.17   A FORMER senior manager at Royal Bank of Scotland (RBS) has said the bank “systematically” forged documents to cover up its own misconduct – supporting ex-business clients who had made similar allegations.   Mark Wright started working for…

RBS accused of fraud and forgery by customers and ex-employee

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RBS accused of fraud and forgery by customers and ex-employee BBC, 15.02.2017   Former business clients of the Royal Bank of Scotland are accusing the bank of systematically manipulating documents to cover up wrong doing.   In an exclusive interview with the BBC, a former RBS employee has come forward to support allegations of document…

Group rejects calls to beef up SMEs compensation scheme

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RBS share price: Group rejects calls to beef up SMEs compensation scheme Invezz, 10.02.2017   Bailed-out lender admits to some wrongdoing over handling small business clients   Royal Bank of Scotland Group (LON:RBS) has rejected calls to beef up its £400-million scheme to reimburse small business customers claiming that they were mistreated by the bank’s…

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