Unexpected Q2 profit boosts chance of early RBS share sale
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London
STATE-OWNED Royal Bank of Scotland (RBS) posted an unexpected profit in the second quarter, benefiting from write-backs on problem loans and boosting its stock ahead of an impending first sale of a chunk of the government's shares.
An RBS share sale, following successive disposals of government holdings in Lloyds Banking Group, would mark another milestone in Britain's recovery since the 2007-2009 financial crisis and could contribute billions of pounds to state coffers.
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