RBS reaches milestones but year-on-year profits down in IB

03 May 2012

Royal Bank of Scotland beat consensus expectations with its first quarter operating profit, but the numbers included a year on year fall in investment banking performance.

The core bank posted an operating profit of £1.2bn, marginally above the first quarter of last year and £300m above consensus expectations according to Investec analysts. But that came on falling revenues across the bank, including in the newly restructured investment banking divisions. In international banking, revenues fell ...

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