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.

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The 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.