Feb.14 — Royal Bank of Scotland Group Plc Chief Fincancial Officer Katie Murray discusses cost cuts and the low interest-rate environment as the state-controlled lender beat consensus estimates with an operating profit before tax of 1.55 billion pounds ($2.02 billion) in the fourth quarter. RBS, which will be renamed NatWest Group Plc, is almost halving the assets in NatWest Markets, which houses its investment bank.
In This Story: Royal Bank of Scotland
The Royal Bank of Scotland is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank.
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In This Story: Scotland
Scotland is a country in Western Europe which forms part of the United Kingdom. Its government was joined with that of England’s through the 1707 Acts of Union. A devolved government now administers many of the affairs of the country, though ultimate authority still resides with Westminster. Scotland has a distinct legal system and national sporting associations. 5.2 million people live in Scotland and the largest city in the country is Glasgow, though the capital is Edinburgh where the government sits at the Scottish Parliament opposite Holyrood Palace.