Royal Bank of Scotland Group PLC, which is about to see its government ownership rise to 84%, posted a £1.8 billion ($2.99 billion) net loss for the third quarter, hurt by £3.28 billion in impairment losses, and said it remains cautious on the outlook.

The Edinburgh-based bank's net loss in the three months ended Sept. 30 compared with a net profit of £871 million in the year-earlier period.