Royal Bank of Scotland (RBS) has reported pre-tax profits of £1.6bn

Royal Bank of Scotland (RBS) has reported pre-tax profits of £1.6bn for the three months to the end of March, almost double the profit recorded in the same quarter a year earlier.The results mark a return to profit for the first time since last summer but RBS expects more fines and damages for mortgage mis-selling in the US. RBS chief executive Ross McEwan promised RBS would be a bank “that does a great job for customers while delivering good returns for our shareholders”.