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RBS stung by Irish debt

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RBS stung by Irish debt

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The Royal Bank of Scotland, which is majority owned by the British Government, made first quarter losses of some 600 million euros.

The bank racked up 1.5 billion euros of bad debt at Ulster Bank.

Irish clients are struggling to repay loans against a backdrop of tough economic conditions.

RBS expect the debt to decline in the second part of the year.