October 27, 2017 / 6:12 AM / 2 months ago

RBS reports better than expected Q3 profit of $1.14 billion

LONDON, Oct 27 (Reuters) - Royal Bank of Scotland reported a better than expected operating profit for the third quarter of 871 million pounds ($1.14 billion) on Friday, as it kept costs under control and avoided any conduct charges.

The state-owned bank’s operating profit beat the 694 million pounds predicted by an average of analysts’ estimates compiled by the bank.

RBS, rescued in a record 45.5 billion pound ($59.8 billion) bailout at the height of the 2008 financial crisis, has not made an annual profit since 2007 although it has been in the black every quarter so far in 2017. ($1 = 0.7622 pounds) (Reporting By Emma Rumney and Lawrence White; Editing by Rachel Armstrong)

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