Update: RBS shares fall 2% on Q3 loss of £469m

Slow improvement in business

The Royal Bank of Scotland (RBS) has reported a £469m loss in the third quarter, higher than analysts' expectations, as it continued to battle with litigation and restructuring costs, leading to shares falling 2% in early trading.

The bank attributed losses to restructuring costs of £469m, as well as litigation and conduct costs of £425m, and £300m of deferred tax asset impairment. The loss is double the amount expected by analysts, according to the BBC, but came in lower than the £1.1bn loss seen during the previous three months. The bank also said it would miss the deadline to dispose of its Williams & Glyn business, which it was ordered to sell by the European Commission to prevent it from becoming a dominant player in the UK's lender market. The deadline set by the European regulator was for the arm to b...