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Bad debts slam RBS profit

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Bad debts slam RBS profit

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Royal Bank of Scotland posted a net loss of 1.16 billion euros in the first-half.

The weaker-than-expected results included sharply higher bad debts of 8.74 billion euros. The bank, which is now state-controlled after having to be rescued by the British government, also warned of more “poor” results to come as its recovery would take time.