RBS is sitting on a loss of several hundred million pounds after being forced to take back the keys on £1.8bn in German properties bought at the market’s peak by a fund run by Morgan Stanley. In one of the largest paper losses on property for a UK bank, RBS has taken control of a portfolio of 28 German properties, after lending about €1.9bn to acquire the portfolio in 2007. RBS is expected to hold on to the properties until they regain some of the value lost.

This entry was posted by Gwen Robinson on Monday, February 15th, 2010 at 5:11 and is featured in The 6am Cut London (15 Feb 2010) . Tagged with morgan stanley, rbs. Edit this entry.