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RBS rejoices as it returns to profit

4th Aug 17 9:52 am

Strong figures for first half of the year

Banking giant RBS has returned to profit in the first-half of the year, it revealed this morning.

RBS made a £939m profit in the first six months of the year despite a big one-off £396m cost related to a settlement over mis-sold US mortgage products.

The profit is particularly good news for investors as it is a big turnaround from the £2bn loss in the same period of 2016.

RBS also revealed it is in talks wih Dutch authorities about locating its European headquarters in Amsterdam after Brexit. RBS already has a licence to operate in the Netherlands, which is a legacy of its purchase of the Dutch bank ABN Amro in 2007.

“We’re putting the past behind us and the core bank is getting stronger,” 
Ross McEwan, CEO of RBS said.

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