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| Version 4 | Version 5 |
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| High Street boost for RBS profits | High Street boost for RBS profits |
| (2 days 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. |
| 'Bad debt peak' | 'Bad debt peak' |
| The group bidding for the Dutch bank - which also includes Belgian bank Fortis and Spanish banking group Santander - 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%. |
| We believe we have passed the peak of bad debts in the UK's unsecured personal credit market Sir Fred Goodwin, RBS chief executive See RBS shares | We believe we have passed the peak of bad debts in the UK's unsecured personal credit market Sir Fred Goodwin, RBS chief executive See RBS shares |
| 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. | Bad debts in the first half came to £871m, down 2% on the year. |
| "The quality of our corporate loan portfolio remains very strong, and we believe that we have passed the peak of bad debts in the UK's unsecured personal credit market," Mr Goodwin said. | "The quality of our corporate loan portfolio remains very strong, and we believe that we have passed the peak of bad debts in the UK's unsecured personal credit market," Mr Goodwin said. |
| RBS shares closed down 2.7% at 575p amid uncertainty over the US economy and the outcome of the ABN bid battle. | RBS shares closed down 2.7% at 575p amid uncertainty over the US economy and the outcome of the ABN bid battle. |