PPI scandal costs Royal Bank of Scotland £1.7 billion

File photo of a woman walking past the headquarters of the Royal Bank of Scotland in the City of London
The Royal Bank of Scotland raised its PPI bill to £1.7 billion Credit: Johnny Green/PA Wire

The Royal Bank of Scotland (RBS) has revealed an additional £400 million charge to cover the cost of mis-sold payment protection insurance (PPI) claims, bringing the total bill to £1.7 billion.

RBS also said the cost of its recent IT glitch had risen by £50 million to £175 million.

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PPI scandal costs RBS £1.7bn

Royal Bank of Scotland today revealed an additional £400 million charge to cover the cost of mis-sold payment protection insurance (PPI) claims, bringing the total bill to £1.7 billion.