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RBS profits rise to £1.64bn

The Royal Bank of Scotland has reported a pre tax profit of £1.64 billion for the first quarter for 2014, up from £826 million from last year.

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RBS 'still has work to do' after reporting pre-tax profits

After the announcement of a pre-tax profit of £1.64 billion for Royal Bank of Scotland, Chief Executive Ross McEwan has said that his bank "still has a lot of work to do."

In a statement he said: "We still have a lot of work to do and plenty of issues from the past to reckon with.

"Everyone at RBS is focused squarely on doing everything we can to earn the trust of our customers and in the process change the banking sector for the benefit of the UK.”

Chief Executive Ross McEwan says that RBS still have a "lot of work to do" after reporting huge profits. Credit: Philip Toscano/PA Wire

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