Royal Bank of Scotland drops as it warns on uncertainties
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Royal Bank of Scotland (LON:RBS) reported operating profits of £961 million for the third quarter, an improvement over the £871 million booked in the same period of last year. The company said that income for the three months was up by 15.4% relative to the same point last year, primarily due to indemnity insurance recoveries.
However, the company said that it has set aside a £100 million impairment to recognise the uncertainties in the current economic outlook and a further £60 million to represent the difficulties in its Irish business.
Shares in Royal Bank of Scotland fell by 4.18% to 224.70p (as of 13:45 BST).
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