View more on these topics

RBS announces £2bn pre-tax profits for Q3

Royal Bank of Scotland has reported pre-tax profits of £2bn in the three months to September 30.

The result compares to a £1.6bn loss in the third quarter of 2010 and include a £142m writedown due to its exposure to Greek sovereign bonds.

The bank has also reported an operating profit of £267 in Q3, this compares with £726m for the same period in 2010.

RBS Group chief executive Stephen Hester says: “RBS’s third quarter results show the improved strength and resilience we have built up since 2008. They also highlight the external pressures facing banks, and economies more broadly, which are making the road to recovery longer and bumpier than hoped for.

“In the face of eurozone turmoil and economic slowdown RBS has sustained its restructuring momentum. Our Core Tier 1 capital ratio is strong. Our loan:deposit ratio improved again, as did our liquidity position. Non-Core run-down is on-track for year end targets. Impairment charges fell, especially in Ireland.”


News and expert analysis straight to your inbox

Sign up


There are 3 comments at the moment, we would love to hear your opinion too.

  1. Any mention of how much will go to paying of those who kept them alive, no didn’t think so……..

  2. Hmmmm I smell plenty bonus just in time for xmas

  3. Manage out and sack enough staff and you can get any busines into profit.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm