RBS posts its first profit in 10 years
by Angela Monaghan from on (#3GJN8)
Boss of taxpayer-owned bank hails profit as 'symbolic moment' despite looming litigation
Royal Bank of Scotland has posted its first annual profit in a decade, but admitted it is braced for a multibillion-pound hit from US regulators.
The bank, which is still 71%-owned by the government, made a profit of 752m in 2017, following a 7bn loss in 2016. Its chief executive, Ross McEwan, declared it a symbolic moment and an indication RBS had moved on. The bank, however, would still have been in the red if a long-anticipated fine from the US Department of Justice (DoJ) had arrived during the financial year.
Royal Bank of Scotland has made its first annual profit in a decade. Does this mean it is in good financial health?
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