RBS reports modest rise in Q2 profit

Royal Bank of Scotland reported a modest increase in second quarter profit after booking a 1.05 billion pound (USD 1.63 billion) charge for the costs of restructuring its business and setting aside 459 million to deal with conduct and litigation issues.

The bank made an attributable profit of 293 million pounds (USD 457 million), up 27 percent on the same period last year. Analysts had expected a loss of 260 million pounds, according a range of forecasts provided by the bank.RBS said it planned to return capital to shareholders but would not be in a position to do so until the first quarter of 2017 at the earliest.