RBS annual profit doubles to £1.6bn

RBS branchImage copyrightGETTY IMAGES

Royal Bank of Scotland has reported profits of £1.62bn for 2018, more than double the £752m it made last year.

The bank, which is 62%-owned by the government, said it would pay £977m to the Treasury through dividend payments.

RBS chief executive Ross McEwan said: "This is a good performance in the face of economic and political uncertainty."

Mr McEwan also said the UK economy faced "a heightened level of uncertainty related to ongoing Brexit negotiations".

BBC News