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28

R.B.S. Reports Multibillion Dollar Loss in 4th Quarter

By Tony Seruga

For the three months ended Dec. 31, the Royal Bank of Scotland reported a loss of 2.74 billion pounds, or $3.8 billion, compared with a loss of £5.79 billion in the fourth quarter of 2014. CreditWill Oliver/European Pressphoto Agency

LONDON — The Royal Bank of Scotland reported on Friday a multibillion-dollar loss in the fourth quarter that was worse than analyst expectations, driven by 2.21 billion pounds, or about $3 billion, in additional provisions for legal and regulatory matters.

R.B.S., which is based in Edinburgh, is in the middle of a large restructuring as it shifts away from being a lender with global ambitions to focus on retail and corporate banking in Britain and Ireland. The lender announced plans last year to dismantle its global investment bank and to reduce the number of countries where it operates…

R.B.S. Reports Multibillion Dollar Loss in 4th Quarter

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