RBS rehab begins but can rates keep flying?

Nathan Bostock RBS CFO
By Owen Sanderson
02 May 2014

RBS delighted the market with its first quarter results, which showed a return to profit and sent shares up to a peak of 13% above Thursday’s close. Rates in particular flew, up 61% on the year, but analysts questioned how sustainable this performance can be.

The strong performance does not necessarily get the firm’s investment bank staff out of trouble, with costs squeezed 15% in markets and 8% in international banking during the past quarter, and "strategic cost reduction" still to come. Across the bank, costs are expected to fall by £1bn year ...

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