The private banking business of RBS has registered an operating loss of £78m for the second quarter of 2015, compared to operating profit of £70m a year ago.
For the quarter ended 30 June 2015, the unit’s adjusted operating profit declined to £32m from £73m in the second quarter of 2014.
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The private banking unit’s second quarter total income was £207, down 23% from £272m a year earlier. Net interest income declined to £126m from £174m in the second quarter of 2014.
During the quarter, operating expenses of the unit increased to £287m from £201m in the year ago period.
Overall, the RBS group posted net profit of £293m million for the second quarter of 2015, a rise of 27% compared to £230m in year ago second quarter.
