Royal Bank of Scotland put investors on standby for another strong set of results today after seeing "good progress" over the first part of the year.
The group, which achieved underlying profits of £7.15 billion in 2003, said key features of its performance had been strong income growth, further improvements in efficiency and stable credit levels.
In a trading update covering the half-year to June 30, RBS said that profits were anticipated to be in line with expectations.
Analysts are currently forecasting a full-year figure in the region of £7.85 billion.
Chief executive Fred Goodwin said: "Good momentum continues across each of our businesses and we are on track to deliver strong organic growth in income whilst continuing to improve efficiency."
Wednesday June 09, 2004
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