RBS warns of difficult times ahead

R

Royal Bank of Scotland (RBS) made considerably more profit in the second quarter. However, the British bank warns of more challenges in the future because of economic and political uncertainty due to the Brexit.

The net profit amounted to 1.7 billion pounds, converted to more than 1.8 billion euros. In the second quarter of 2018 this was £ 217 million. A year ago, RBS paid dividends for the first time in ten years, after the bank was rescued in 2008 with government support. The dividend payment followed a billions settlement around junk mortgages in the United States. RBS is still largely in the hands of the British government.

RBS announced the payment of a special dividend for the second time this year. The bank fears that it will not meet certain financial targets next year due to economic and political unrest.


By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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