RBS warns of Brexit damage despite profits more than doubling
by Kalyeena Makortoff Banking correspondent from Economics | The Guardian on (#4969P)
Figure of 1.6bn means bank records second straight year of profit since 2008 state bailout
Royal Bank of Scotland has said Brexit uncertainty has "gone on far too long", despite posting better-than-expected full-year profits and declaring new dividends that will boost government coffers by 1bn.
RBS's chief executive, Ross McEwan, admitted the additional pressure of Brexit risks would affect the bank's performance over the coming year and it may struggle to meet its target of getting costs below 50% of its income by 2020.
Related: One in 10 support quick sale of government's RBS stake, poll finds
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