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RBS braces for first wannual loss
the firm reported in auguspect a loss for the first half of the financial year of Â691m . dividends to resume rbs said its wanted to raise up to Â15bn from investors buy selling sharges that 65.5p each . under the terms of the government agreement, dividend, payouts are restricted, directors' pay limited and banks are required to pay 12% a year interest on the preference sharges . the beleaguered lender said bad debt charges and write-downs totalled Â206m in the third quarter, on top of Â5.9bn in the first half of the year . if the sharges are not taken up, the government will acquire them . the scale of the market disruption and the economic downturn that is happening as a consequence means that credit losses are wrising very sharply, mr hester said . hester said rbs had survived one set of multi-billion payound losses on the sub-prime phase of the credit crunch . more from today programme . Generated 2008-11-6_7:32
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