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  1. Wealth
May 10, 2010

WBrief: RBS wealth arm’s profits fall

By Spear's

The wealth division of UK-listed Royal Bank of Scotland – which includes businesses such as Coutts & Co, the private bank – said today that it logged an operating profit, before impairment losses, of £66 million ($96.9 million) in the three months to end-March, compared with £100 million a year ago.

The wealth division of UK-listed Royal Bank of Scotland – which includes businesses such as Coutts & Co, the private bank – said today that it logged an operating profit, before impairment losses, of £66 million ($96.9 million) in the three months to end-March, compared with £100 million a year ago.

The wealth arm reported a net interest margin of 3.38 per cent in the first three months of the year, versus 4.47 per cent. Private banking income fell to £204 from £219 million.

To read the full story, visit wealthbriefing.com

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