RBS announces $1.5M writedown on subprime debt

EDINBURGH – Royal Bank of Scotland Group plc, the second-largest U.K. bank, yesterday said its earnings will exceed analyst estimates this year, despite $3 billion (1.5 billion pounds) in writedowns from the credit-market slump. The bank – the parent of the Providence-based Citizens Financial Group – considers its holdings in U.S. subprime-mortgage-related debt to be…

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