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| Version 1 | Version 2 |
|---|---|
| High Street boost for RBS profits | High Street boost for RBS profits |
| (about 1 hour later) | |
| Royal Bank of Scotland (RBS) has reported better-than-expected profits for the six months to July. | Royal Bank of Scotland (RBS) has reported better-than-expected profits for the six months to July. |
| Group operating profit, before tax, was up 11% to £5.1bn ($10.4bn), with £1bn coming from its High Street outlets. | Group operating profit, before tax, was up 11% to £5.1bn ($10.4bn), with £1bn coming from its High Street outlets. |
| Chief executive Sir Fred Goodwin said "diversification" enabled the group to prosper across a range of markets. | Chief executive Sir Fred Goodwin said "diversification" enabled the group to prosper across a range of markets. |
| A group led by RBS has offered 71bn euros ($97bn: £48bn) for Dutch bank ABN Amro, with competition from Barclays which has offered 67.5bn euros. | A group led by RBS has offered 71bn euros ($97bn: £48bn) for Dutch bank ABN Amro, with competition from Barclays which has offered 67.5bn euros. |
| The RBS group - which includes Belgian bank Fortis and US Citizens Bank - plans to break up ABN should its offer prove to be successful. | |
| RBS, the UK's second-biggest bank, said income grew 8% to £14.7bn, while costs as a percentage of revenue improved to 41.4% from 41.9%. | RBS, the UK's second-biggest bank, said income grew 8% to £14.7bn, while costs as a percentage of revenue improved to 41.4% from 41.9%. |
| US bank outlet Citizens saw its profits fall 7% to £752m, but operating profit was up 2% before the impact of the weak dollar. | US bank outlet Citizens saw its profits fall 7% to £752m, but operating profit was up 2% before the impact of the weak dollar. |
| Insurance profits fell by a quarter to £255m, after having to meet claims related to floods across England in June. | Insurance profits fell by a quarter to £255m, after having to meet claims related to floods across England in June. |
| Bad debts in the first half came to £871m down 2% on the year, and claimed it had passed the peak of bad debts on UK unsecured loans. | Bad debts in the first half came to £871m down 2% on the year, and claimed it had passed the peak of bad debts on UK unsecured loans. |
| RBS shares fell 1.3% to 584p in morning trading. |