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Sat 08 Aug 2008RBS posts second-biggest loss in history of UK banking
ROYAL BANK of Scotland (RBS), owner of Irish lenders Ulster Bank and First Active, has posted the second-biggest loss in UK banking history after reporting a shortfall of £691 million (€883 million) for the first six months of the year.
The loss - the bank's largest since becoming a public company 40 years ago - was described as "a chastening experience" by RBS chief executive Fred Goodwin. He added that the loss was something he and his colleagues "regret very much".
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