Arab Today, arab today royal bank of scotland reports profits rise
Last Updated : GMT 06:55:28
Arab Today, arab today
Arab Today, arab today

Royal Bank of Scotland reports profits rise

Arab Today, arab today

Arab Today, arab today Royal Bank of Scotland reports profits rise

State-rescued Royal Bank of Scotland
London - AFP

State-rescued Royal Bank of Scotland on Thursday announced a 27-percent rise in net profits for the second quarter, with the sale of US operations offsetting higher exceptional costs.

Profit after tax climbed to £293 million ($457 million, 418 million euros) in the three months to the end of June compared with a net gain of £230 million in second quarter of 2014, the group said in a statement.

The latest update comes after the British government said it would begin selling its 80-percent stake in RBS during the coming months.

RBS was rescued with public money at a cost of £45.5 billion following the 2008 global financial crisis.

 

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