RBS posted concerning financial figures today, recording a Q3 loss of £132million. I wonder what the overdraft charge on that is? In general things at RBS seem to be improving with operating profits improved to £726million and core banking profits increasing by 10%.
Income has reduced to the Banks Core banking for the 9 month period to 30 Spetember from £24,706million in 2009 to £22,508million in 2010. So core income is down. The good news is that the size of the losses has reduced from a loss of £4,879million for the period in 2009 to a profit over the same period in 2010 of £1,450million. This is a considerable improvement.
Obviously there are still problems and reducing revenue is rarely a good thing. Shares are currently trading about 6% less than the price the Government paid for them, so don’t expect the largely (84%) nationalised bank to revert to the private sector any time soon.
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