Published On: Mon, Jul 31st, 2017

Royal Bank of Scotland expected to report a second consecutive quarter in the black

A consensus of City analysts forecast the lender, which is still 72 per cent owned by the taxpayer, will report a £343 million profit for the three months to June 30, following on from a £259 million profit in the first quarter. 

Graham Spooner, investment research analyst at The Share Centre, said investors are beginning to “see light at the end of what was a very long tunnel”. 

However, RBS is also predicted to detail £248 million in conduct and litigation costs and £228 million in restructuring charges. 

When added to £577 million of restructuring costs booked in the first quarter, it would take the total for the six months to June to over £1 billion. 

The group racked up several billion in litigation and conduct costs since it was rescued by the Government at the height of the financial crisis. 

Chief executive Ross McEwan has signalled that the bank could return to a full-year profit by 2018, but forecasts suggest that it will remain in the red this year.

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