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RBS reports better than expected third quarter profit of 871 million pounds

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RBS reports better than expected third quarter profit of 871 million pounds

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LONDON (Reuters) – Royal Bank of Scotland <RBS.L> reported a better than expected operating profit for the third quarter of 871 million pounds on Friday, as it kept costs under control and avoided any conduct charge The state-owned bank’s operating profit beat the 694 million pounds predicted by an average of analysts’ estimates compiled by the bank. RBS, rescued in a record 45.5 billion pound ($59.8 billion) bailout at the height of the 2008 financial crisis, has not made an annual profit since 2007 although it has been in the black every quarter so far in 2017. ($1 = 0.7622 pounds)

(Reporting By Emma Rumney and Lawrence White; Editing by Rachel Armstrong)
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