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| Royal Bank of Scotland reports £968m quarterly loss | Royal Bank of Scotland reports £968m quarterly loss |
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| Royal Bank of Scotland has reported a £968m loss for the first three months of 2016, more than double the loss in the same period last year. | Royal Bank of Scotland has reported a £968m loss for the first three months of 2016, more than double the loss in the same period last year. |
| RBS said a one-time £1.2bn dividend payment to the UK government dragged down an otherwise profitable period. | RBS said a one-time £1.2bn dividend payment to the UK government dragged down an otherwise profitable period. |
| Operating profits rose to £421m for the quarter, up from just £37m in 2015, but total revenue fell 13% to £3.06bn. | |
| RBS is still 73%-owned by the UK government having been bailed out by the taxpayer in the financial crisis. | |
| The bank said that excluding the one-off dividend payment to its government shareholder, profits would have been £225m. | |
| On Thursday, RBS said the spin-off of subsidiary Williams & Glyn, as demanded by the EU, was taking longer than expected. | On Thursday, RBS said the spin-off of subsidiary Williams & Glyn, as demanded by the EU, was taking longer than expected. |
| Continuing efforts to restructure the business - including the Williams & Glyn separation effort - cost the bank £238m. |