RBS swings to profit in first quarter

Royal Bank of Scotland (RBS) saw its bottom line improve substantially in the first three months of 2013 as the preceding quarter was hit by a number of one-off costs.

Royal Bank of Scotland (RBS) saw its bottom line improve substantially in the first three months of 2013 as the preceding quarter was hit by a number of one-off costs.

The group reported an operating profit before tax of £826m in the first three months of the year, compared with a loss of £2,227m in the fourth quarter of 2012.

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