Royal Bank of Scotland reports Q3 net loss of £1.384 bln

State-rescued Royal Bank of Scotland said Friday that it sank into a net loss of £1.384 billion in the third quarter, after taking massive accounting charges.

The loss in the three months to September compared with a net profit of £1.226 billion in the same period of 2011, RBS said in a statement, adding it took another £400 million hit to compensate clients who were mis-sold insurance.