RBS Posts Q3 Operating Loss; Divests Stake In Citizens

(RTTNews) - Royal Bank of Scotland Group PLC (RBS, RBS.L) reported a third-quarter operating loss of 134 million pounds, down from profit of 1.11 billion pounds, previous year. Adjusted operating profit was 842 million pounds, compared to 2.05 billion pounds, previous year.

Profit from continuing operations was 1 million pounds compared to 823 million pounds, prior year. Basic loss per share from continuing operations was 0.9 pence compared to profit of 6.9 pence. Adjusted loss per share was 1.8 pence compared to profit of 6.5 pence, last year.

Profit attributable to ordinary and B shareholders was 952 million pounds, compared to 896 million pounds, previous year. The Group noted that its attributable profit included the gain on loss of control of Citizens, of 1.15 billion pounds.

Net interest income decreased to 2.19 billion pounds from 2.37 billion pounds, previous year. Non interest income was 996 million pounds compared to 1.27 billion pounds.

Looking forward, the Group said it remains well on track to achieve substantially all its priority targets for 2015.

Separately, RBS announced it has sold all of its remaining shareholding in Citizens Financial Group Inc. in an underwritten public follow-on offering. The Offering is approximately 110 million shares of Citizens' common stock, equivalent to 20.9% of CFG's issued and outstanding common stock.