Home / Business / RBS to take another multi-billion pound charge for mis-selling: Sky

RBS to take another multi-billion pound charge for mis-selling: Sky

People walk past a Royal Bank of Scotland office in London, Britain, February 6, 2013.  REUTERS/Neil Hall/File Photo People walk past a Royal Bank of Scotland office in London, Britain, February 6, 2013. REUTERS/Neil Hall/File Photo

Royal Bank of Scotland Group Plc (RBS) (RBS.L) will announce within days that it is taking another multi-billion pound charge for mis-selling mortgage-backed securities, Sky News reported on Wednesday. bit.ly/2jStQWD

Britain's Treasury and UK Financial Investments, which manages taxpayers' 72 percent stake in the bank, have been informed that RBS directors will discuss the move at a board meeting this week, Sky reported, citing unidentified sources.

A formal statement about the charge could come as soon as Thursday, Sky added.

It said the precise size of the provision was unclear, though it cited another source as saying it could be between $3 billion and $4 billion.

RBS declined to comment. The Treasury and UKFI could not immediately be reached for comment.

(Reporting by Ismail Shakil in Bengaluru and Lawrence White in London; Editing by Mark Potter)

Source: Reuters

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