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RBS swings to first-half profit, says no more than 150 jobs will move due to Brexit

RBS reported a large earnings beat on Friday morning with the U.K. lender highlighting that it had swung back to a first-half profit for the first time in three years.

RBS' recovery continued in the first six months of 2017, with the bank posting a £939 million ($1.23 billion) pre-tax profit through to the end of June. The lender said its core capital ratio, a key measure of financial strength, increased by 14.8 percent over the same period.

"We're encouraged by the results today, it's our second best six-month result since the crisis and our best set of six-month results since the first half of 2014," Ewen Stevenson, RBS chief financial officer, told CNBC on Friday.

Here are some of the highlights from the earnings:

  • $894 million for Q2 net profit vs. $280 million expected
  • CET ratio 14.7% for the first six months of 2017, versus a company target of 13%.
  • RBS plans to use Dutch license post-Brexit with no more than 150 jobs said to be relocating...

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