The private banking business of Royal Bank of Scotland (RBS) has reported third quarter operating profit of £64m, an increase of 30% compared with £49m a year ago.
For the quarter ended 30 September 2014, the division’s total income was £270m, flat compared to the year-ago quarter.
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Client assets and liabilities grew by £0.7bn in third quarter with increases across all categories. This includes growth of £0.2bn in assets under management to £28.9bn across the UK and international businesses, the bank said in its statement.
Overall, RBS group posted pre-tax profit of £1.27bn in the third quarter, versus loss of £634m in the previous year.
The bank also set aside £400m, related to potential costs following investigations into the foreign exchange market.
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