TheBusinessDesk.tv: Stephen Hester on RBS results
ROYAL Bank of Scotland believes its computer problems could end up costing £125m.
The company, which is 82% owned by the taxpayer, revealed the figure today as it posted a pre-tax loss of £1.5bn for the first half.
RBS customers experienced significant problems accessing their accounts when a software upgrade went wrong in June.
The company has promised to compensate customers for any loss they suffered as a result of the error.
Chief executive Stephen Hester said: “The first half of 2012 saw RBS make good progress on both of the jobs that make up our recovery plan.
[VIDEO: 581]”We have continued to make the bank safer and stronger as we clean up problems of the past. And despite the tougher economy, these results show our ongoing businesses to be more resilient than before with many further improvements underway.
“Our recovery plan for RBS is about both physical and cultural change. We know that in a difficult moment for banks it is more essential than ever to drive through these changes. 30 million customers worldwide rely on our services. We have the obligation to show that their interests consistently come first.
“I am determined that RBS should be a leader as we remodel this bank to better serve society and all those who rely on us.”
