RBS Achieves Less Profit And Uses Dutch Banking License
RBS Achieves less Profit and uses Dutch banking License for Brexit. Royal Bank of Scotland (RBS) achieved less profit in the third quarter than one year previously.
It was partly due to a higher tax bill.
There were also higher legal costs surrounding a settlement in the United States,
which was met in September. The operating profit was higher.
The bank, which is still primarily owned by the British government, made a profit of 563 million pounds in the books.
That was 606 million pounds a year earlier in the same quarter.
The operating profit came to 961 million pounds compared with 871 million pounds in the prior year.
RBS further took extra precautions due to the uncertain economic situations and bad loans in Ireland.
The bank will also use its Dutch banking license to endure active within the European Union after Brexit.
RBS stuck to its previously pronounced financial forecasts.