KIWI puts RBS back in the Black

RBS pre-tax profit reached £1.64bn in the first quarter of 2014 - 98 per cent up in 2013.

Chief executive Ross McEwan, who's been leading the bank's latest overhaul, after it announced a loss of over £8bn last year, commented:

Just over two months ago, I set out our plan for making RBS the most trusted bank in the UK. Today's results show that in steady state, RBS will be a bank that does a great job for customers while delivering good returns for our shareholders.

But we still have a lot of work to do and plenty of issues from the past to reckon with. Everyone at RBS is focused squarely on doing everything we can to earn the trust of our customers and in the process change the banking sector for the benefit of the UK.

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