RBS sets aside £3.1b for new claims

RBS says it will need to set aside another £3.1 billion to settle claims relating to mortgage products, PPI claims and interest rate hedging. The bank's chief executive, Ross McEwan said: "The scale of the bad decisions during that period (the financial crisis) means that some problems are still just emerging. "The good news is we are now a much stronger bank and can manage these costs." RBS is 80 per cent-owned by the UK taxpayer, according to a news agency.