BLACK FRIDAY? - 05 Aug 2011, page 1

Allianz SE (ALV), Europe’s biggest insurer, said second-quarter profit fell 8.2 percent, missing analyst estimates following writedowns on Greek sovereign bonds.

Bloomberg

Here another candidate. Thanks Greece!

edit on 5/8/2011 by JakiusFogg because: (no reason given)

reply posted on 5-8-2011 @ 02:58 AM by JakiusFogg

reply to post by icepack

I just remember seeing it on the Sky News ticker last night. Could have sworn it said 840 Billion! but you could be right. Either way it a massive amount to be writing down

reply posted on 5-8-2011 @ 02:59 AM by icepack

reply to post by JakiusFogg

dude, its in your own link.

RBS has also had to set aside £850m to cover compensation for customers who were mis-sold payment protection insurance (PPI).

news.sky.com...

reply posted on 5-8-2011 @ 03:02 AM by davidgrouchy

UPDATE 1-RBS posts $1.1 bln loss, bruised by Greece, Ireland

Fri Aug 5, 2011 3:02am EDT

reuters.com / royal bank of scotland

This is what I found.
Posted one hour ago on Reuters.

David Grouchy

reply posted on 5-8-2011 @ 03:03 AM by JakiusFogg

reply to post by icepack

Dude, that is compensation for PPI. there was a snippet on the sky new ticker last night that sais.

RBS to write down 840 b/m? of Greece National Debt, Tomorrow (read today)

Not the PPI, but willing to concede it could well have been 800 Million for Greece, either way it is not good as this bank is majority owned by the UK Tax payers

edit on 5/8/2011 by JakiusFogg because: (no reason given)

reply posted on 5-8-2011 @ 03:04 AM by buni11687

I believe the loss of RBS is around 1.4 billion, in US dollars, but 897 million in euro/pounds, not sure which one

www.marketwatch.com...

Royal Bank of Scotland Group PLC said Friday that it swung to a second-quarter net loss of 897 million pounds ($1.46 billion) from a profit of 257 million pounds a year earlier, due to provisions on Greek debt and a charge to cover mis-sold insurance policies.

Edit - I think the OP just had a little typo

edit on 5-8-2011 by buni11687 because: (no reason given)

Edit 2 - I could also easily see a 800 billion write off the way things have been going recently.

edit on 5-8-2011 by buni11687 because: (no reason given)

reply posted on 5-8-2011 @ 03:07 AM by icepack

op, you do not seem to have much financial knowledge.
you think you saw it on the ticker last night ? come on, are you kidding me ?
you went wrong by a "1000" times.

reply posted on 5-8-2011 @ 03:09 AM by freetree64

reply to post by icepack

Well, that would put the OP in good company, considering the financial knowledge of those running this " Dog and Pony Show "!!!!!

No hard feelings Op....

reply posted on 5-8-2011 @ 03:17 AM by PurpleDog UK

reply to post by JakiusFogg

Hello JF

I have this link to a peice by BBC Biz Editor, ''Bob'' Peston.........

www.bbc.co.uk...

It discusses RBS and it's 'write-off' off Greek Bonds because , as we already know is Bust and Knackerred !!

He suggests that maybe RBS is being Realistic and the expectation of the Greeks not paying is real WHEREAS european banks ACTUALLY haven't got enough money to cover their own liabilites on Greece..........!!!!!

FYI, I am having my first 'proper' holiday in the past 2 years, down in the South of France.........why has the world waited until I am away from the UK and the action............???

And what are all these reports about UFO's and power supply breaks over the UK......??

I'm back sunday night, hpoe everyone is still around then ????

PDUK

edit on 5-8-2011 by PurpleDog UK because: (no reason given)

reply posted on 5-8-2011 @ 03:20 AM by freetree64

There go the jobs in the EU banks....

see yaa......