RBS investment bank to see profit after revamp

London

ROYAL Bank of Scotland Group chief executive officer Ross McEwan said the restructuring of the investment bank is "very well advanced" and it will return to profit within four years, as he continues to shrink the division's global operations to focus on UK and western European clients.

"The work in the corporate and institutional bank primarily will be finished by the end of this year," Mr McEwan, 58, told Bloomberg Television in London on Friday, when ruling out a full disposal of the unit. "Why would we give up great strategic positions where we are some of the biggest players of these market places, where we can make money? We'll show that over the next three to four years."