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'Early days' for RBS despite £1.6bn profits

The Royal Bank of Scotland (RBS) is still in the "very early" stages of working towards its financial recovery, the Today programme has heard.

William Wright, managing director of Financial News, explained that the bank was not getting any closer "to the light at the end of the tunnel" despite its pre-tax profit of £1.6bn for the three months to the end of March.

The bank must continue to deal with the cost of restructuring the business and expected regulatory fines over the coming year.

First broadcast on BBC Radio 4's Today programme on Friday 2 May.

  • 02 May 2014
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