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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.
See also:
HSBC takes $4.4 billion in write-downs on weak US credit
$400 billion losses on subprime, predicts Deutsche Bank
Topics: ABN Amro, Royal Bank of Scotland (RBS)
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