The banking group also apologised for "our past mistakes in relation to anti-money laundering controls". Standard Chartered reported a nine percent increase in its pre-tax profits to US$3.95 billion in the first half of the year and RBS reported a dip in profits as it was forced to set aside as much as £125 million for the recent IT glitch. Operating profit for the first half was down 7 per cent to £1.8 billion from £2 billion after the hit, which will go towards paying back customers who were unable to access their accounts when the technical glitch in June affected the computer system. The part-nationalised bank also reported losses to the tune of £1.5 billion for the six months to 30 June compared with £794 million in 2011. The bank, which is 82 per cent state-owned, said the latest loss was due to several exceptional costs, primarily own credit adjustments of £3 billion. The bank, which also owns NatWest and Ulster Bank, said this was a sign RBS was recovering, as its debt "now trades at tighter margins".