Royal Bank of Scotland reported a better than expected operating profit for the third quarter of 871 million pounds ($1.14 billion) on Friday, as it kept costs under control and avoided any conduct charges.
The state-owned bank’s operating profit beat the 694 million pounds predicted by an average of analysts’ estimates compiled by the bank.
RBS, rescued in a record 45.5 billion pound ($59.8 billion) bailout at the height of the 2008 financial crisis, has not made an annual profit since 2007 although it has been in the black every quarter so far in 2017.
