RBS aiming to restart dividend payments -UPDATE

- No dividend payments until 2014 at the earliest; - Ulster Bank turn-around remains a priority; - Restructuring phase should largely be complete by the end of 2013

Royal Bank of Scotland, the 82 per cent publically owned bank, says it is targeting the resumption of dividend payments after 2013. The lender also delivered a positive message as regards its third quarter revenue performance and unveiled some additional cost cutting measures.

The announcements came in a speech by RBS's Chief Executive, Stephen Hester, at Merrill Lynch's annual London conference for bank bosses.

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