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BRIEF-RBS says expects 400 mln stg cost from SME customer case
October 23, 2017 / 1:18 PM / a month ago

BRIEF-RBS says expects 400 mln stg cost from SME customer case

Oct 23 (Reuters) - Royal Bank Of Scotland:

* ROYAL BANK OF SCOTLAND - ‍WELCOMES FCA‘S CONFIRMATION THAT MOST SERIOUS ALLEGATIONS MADE AGAINST BANK HAVE NOT BEEN UPHELD

* ‍RBS RESPONDS TO PUBLICATION OF FCA REPORT ON INDEPENDENT REVIEW INTO GRG​​

* ‍BANK CONTINUES TO ESTIMATE CUMULATIVE COST OF THESE MEASURES TO BE APPROXIMATELY £400M​

* ROYAL BANK OF SCOTLAND - ‍BANK ACCEPTS THAT IT DID NOT ALWAYS COMMUNICATE AS WELL OR AS CLEARLY AS IT SHOULD HAVE DONE​

* ‍BANK HAS NOW COMPLETED AUTOMATIC REFUND OF COMPLEX FEES, WITH MORE THAN £115M OF REFUND OFFERS MADE​

* ROYAL BANK OF SCOTLAND - COULD HAVE MANAGED TRANSITION TO GRG BETTER AND SHOULD HAVE BETTER EXPLAINED TO CUSTOMERS ANY CHANGES TO PRICES OR COMPLEX FEES IT WAS CHARGING​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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