RBS to payout £1.7 billion to shareholders
The bank is reporting its highest half-year bottom-line profits in more than a decade
Royal Bank of Scotland are to payout £1.7 billion to their shareholders.
The Treasury is set to gain around £1 billion in dividend payouts from the bank.
RBS, which is still majority-owned by the taxpayer, has reported its highest half-year bottom-line profits in more than a decade. This has been attributed to profits rising by 130%.
Before tax - they're up 46% on the same period last year.
The figures were boosted by the sale of the company's stake in Saudi bank Alawwal, which completed its merger with Saudi British Bank in June.
Chief executive Ross McEwan said: "Given the uncertain and competitive environment, we are focused on the areas we can control; costs are down, capital and liquidity are strong, and we continue to grow lending to the real economy.''
No announcements were made regarding the hunt for Mr McEwan's successor, nor was any new provision made for PPI claims.