RBS sees 14% rise in quarterly profits

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Royal Bank of Scotland has reported a 14% rise in third-quarter pre-tax profits to £448m, from £392m a year earlier.

The bank also set aside a further £200m to cover costs for the mis-selling of payment protection insurance in the July-to-September period,

RBS is still 62% publicly owned after being bailed out by the government at the height of the financial crisis.

It paid its first post-crisis dividend to shareholders earlier this month.

RBS also disclosed that it had received approval from Dutch regulators to serve EU clients out of Amsterdam after the UK leaves the EU.

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