RBS reports huge loss sending bank’s shares tumbling

‘The Royal Bank of Scotland (RBS) has reported a $2.7 billion (£2.05 billion) net loss for the first six months of 2016. The bank’s stock fell over six percent during Friday’s trading in London.
The state-backed lender was severely hampered by a number of litigations connected to payment protection insurance (PPI) claims as well as massive restructuring costs. The high costs have led to the bank’s ninth straight annual loss.’
Read more: RBS reports huge loss sending bank’s shares tumbling