The Royal Bank of Scotland (RBS) has predicted it will suffer writedowns of £950 million from exposures to US subprime mortgage markets over the second half of this year.Its announcement came in a trading statement issued today. It also said ABN Amro, which RBS bought this year, expects writedowns of £300 million for the same period.
RBS and ABN Amro will release full-year results on February 28, 2008.
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.