RBS published its results a week ahead of schedule, though they are still being finalised, because of better-than-anticipated operating performance. Shares were Friday quoted up 13% at
In a statement, state-backed RBS said it expects to report
However, in the second-quarter alone pretax profit fell to
"The results we are posting today show the steady progress we are making as we take the steps to be a much simpler, smaller and fairer bank. These results show that underneath all the noise and huge restructuring of recent years, RBS is a fundamentally stronger bank that can deliver good results for customers and shareholders."
However, McEwan sounded a note of caution due to the legacy problems casting a shadow over the bank.
"We are actively managing down a slate of significant legacy issues. This includes significant conduct and litigation issues that will likely hit our profits going forward. I am pleased we have had two good quarters, but no one should get ahead of themselves here - there are bumps in the road ahead of us," McEwan said in a statement.
Some of those legacy problems returned in the second-quarter, with the bank setting aside a further
Restructuring costs increased by
RBS said that it expects restructuring costs to be higher in the second-half as measures to meet its
Most Popular Stories
- Paniagua Wins Grand Prize in Young Artists Program
- Cable TV Not Going Away, Says Cable TV
- Yaris Adds French Flair for US Market
- German Intelligence Blames Ukraine Rebels for MH17
- Sub Hunt Brings Cold War Chill Back to Baltic
- Turkey to Help Kurds Reach Fight in Kobani
- IBM to Pay Big to Unload Chip Division
- Perez Leads Push for Obama's Job Proposals
- ISIS Seeks to Expand Terror War
- Kerry Cites Moral Need in Weapons Air Drop