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RBS avoids 'bad bank' split

Royal Bank of Scotland today reported a sharp fall in operating profits to £438 million for the third quarter, from £909 million a year earlier. The bank is also to create an internal 'bad bank' with £38bn of problem assets, avoiding a full split.

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Chief executive: 'Bar has been set higher for RBS'

The Royal Bank of Scotland's chief executive Ross McEwan has said that the 'bar has been set at a higher' for RBS than other banks because it was rescued at the public's expense.

The bar has been set at a higher level for RBS than for other UK banks because we were rescued at the public’s expense.

I have asked all our people to embrace the higher expectations that people have placed on our bank.

That’s the only way we will build a really great business for our customers, our people and our shareholders. That’s my aim.

– RBS chief executive Ross McEwan

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