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RBS Announce that Profits have Doubled for 2018

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Royal Bank of Scotland has reported more than double the £752m profits of 2017 with £1.62bn of profits for 2018.

RBS paid it’s first dividend to shareholders since it received a bailout last October. In the latest results, the bank announced a final dividend of 3.5p per share alongside a special 7.5p dividend. As the Government is still the main RBS shareholder, this means the Treasury is set to receive £977m. This will also mean good news for the 190,000 private investors in the bank.

Tha bank said that their switch from physical to digital services also saw a 16% rise on 2017, with 6.4 million customers now regularly using its mobile app.

RBS chief Ross McEwan called the results “a good performance in the face of economic and political uncertainty”.

More from Mr McEwan can be seen below.