Royal Bank of Scotland Q3 Loss Shrinks
LONDON (TheStreet) -- Royal Bank of Scotland (RBS) - Get Report saw its third-quarter loss shrink from a year ago thanks to lower impairments on bad debt.
Royal Bank of Scotland
said its third-quarter net loss fell to 1.15 billion pounds from 1.8 billion pounds in the year-ago quarter.
The bank said that impairments on bad debt dropped to 1.95 billion pounds, down 21% sequentially and 40% from a year ago.
RBS said operating profit in quarter, excluding debt, was 726 million pounds, reversing a year-ago loss of 1.04 billion pounds. Net interest income climbed to 3.4 billion pounds from 3.26 billion pounds a year ago. Total income rose to 7.92 billion pounds from 7.58 billion pounds.
-- Written by Robert Holmes in Boston
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