February 28, 2013 / 12:25 PM / 5 years ago

No timetable to sell UK government RBS stake -PM's spokesman

LONDON, Feb 28 (Reuters) - The British government has not yet drawn up a timetable to dispose of its 82 percent stake in state-controlled Royal Bank of Scotland, a spokesman for Prime Minister David Cameron said on Thursday.

“There is no timetable for a disposal,” the spokesman said, saying the government thought the bank’s efforts to restructure itself were heading in the right direction and that it was showing “responsibility and restraint” when it came to paying out bonuses.

RBS reported stronger underlying profits earlier on Thursday, potentially opening up the way for the government to start selling the stake it took when it bailed out the bank at the height of the 2008 financial crisis.

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