British banking giant Royal Bank of Scotland (RBS) has posted an attributable profit of £952m for the third quarter of 2015, a rise of 6.2% compared to £896m in the year-ago quarter.
Attributable profit included (in profit from discontinued operations) the gain on loss of control of Citizens stood at £1.15bn.
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The bank posted an operating loss of £134m for the quarter, compared to operating profit of £1.11bn in the year ago quarter, weighed down by restructuring and litigation costs.
Restructuring costs for the quarter were £847m compared to £167m a year ago, while litigation and conduct costs stood at £129m versus £780m a the third quarter of 2014.
Net interest income for the quarter ended 30 September 2015 was £2.19bn, a fall of 7.7% as against £2.37bn a year earlier. Operating expenses dropped 3.6% to £3.26bn from £3.38bn in the corresponding quarter of 2014.
The bank’s personal & business banking (PBB) unit includes two reportable segments- UK Personal & Business Banking (UK PBB) and Ulster Bank.
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By GlobalDataThe UK personal & business banking (PBB) unit of RBS reported an operating profit of £638m, up 27.8% compared to £499m in the third quarter of 2014.
The division’s net interest income dropped 2.3% to £1.17bn from £1.19bn a year ago. Operating expenses decreased 16% to £810m from £965m in the prior year.
Ulster Bank’s operating profit fell 70.1% to £114m from £382m a year earlier.
The unit’s net interest income dropped 22% to £127m from £163m in the year ago quarter, while its operating expenses increased 5.3% to £158m from £150m in the prior year.
