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|Expert comment on RBS reporting a £2 billion loss for 2015|
|Friday, 26 February 2016|
John Thanassoulis, Professor of Financial Economics and researches banking at Warwick Business School, said: "These are not a good set of results and the most shocking number is that RBS is setting aside £3.8bn for American Civil Litigation to pay for fines to do with the origination of US mortgage backed securities. The conduct in this part of the bank must have been very bad.
"CEO Ross McEwan is at pains to point out that RBS is becoming simpler and UK-focused – more like Lloyds some might say which had much better results. RBS is keen to return to normality, and is paying a final dividend to the UK Government to allow the possibility of starting dividends.
"Due to restructuring, income is down 15% and ignoring restructuring and litigation, costs are only down 10%, suggesting that costs are becoming an area to be dealt with in this more UK-focused bank."
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