RBS helped by fewer bad debts

07/05/10 16:12 CET

corporate

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Royal Bank of Scotland posted an unexpected return to profit in the first three months of this year as bad debts continued to shrink.

Operating profit was the equivalent of 820 million euros.

However its investment banking earnings more than halved from the strong performance in the same period last year.

Part-nationalised RBS reported “favourable” trends with regard to bad debts.

More about: Banking, Profits, Scotland

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