Author: 123jump.com Staff
123jump.com
Last Update: 10:07 PM EST March 05 2008

U.K’s second largest bank said fiscal 2007 pre-tax profit rose to £9.96 billion helped by higher growth in the U.K corporate and retail banking divisions. Income gained 6.4% to £25 billion. RBS warned of a sluggish 2008 and lowered its earnings estimate for the current year. The bank has commercial mortgage exposure, consisting of loans originated for the purposes of securitization of £8.8 billion at December 31, 2007.