RBS posts 466 mln pounds loss

LONDON - The Associated Press

Royal Bank of Scotland has reported a loss of 466 million pounds ($723 million) for the second quarter as it set aside 125 million pounds to pay the costs of a computer breakdown which caused havoc with customer accounts in June.

The part-nationalized bank on Aug. 3 said it had made a provision of 50 million pounds for compensating loan customers who were mis-sold complex interest rate swaps.

The loss for the three months ending June 30 was down from a loss of 897 million pounds a year earlier. Operating profit fell 22 percent to 650 million pounds, and revenue fell 5.4 percent to 6.4 billion pounds.