
Britain's state-rescued Royal Bank of Scotland said Friday that net profits rocketed to £1.195 billion ($2.02 billion, 1.46 billion euros) in the first quarter, buoyed by lower costs and falling impairments. Earnings after taxation surged in the three months to the end of March 2014, compared with £393 million in the same part of 2013, RBS said in a results statement.
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