R.B.S. Adds $3.8 Billion to Mortgage Inquiry Provisions as Rivals SettleBy
CreditPaul Ellis/Agence France-Presse — Getty Images
LONDON — The Royal Bank of Scotland said on Thursday that it would set aside an additional $3.8 billion in its fourth quarter for investigations and litigation in the United States, even as rivals have reached settlements with the American authorities.
The bank, which is 73 percent owned by the British government after a bailout during the financial crisis, is looking to address legacy legal issues as its chief executive, Ross McEwan, aims to turn around the lender’s prospects…
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