RBS (2)

Royal Bank of Scotland has warned of the impact of uncertainty surrounding Brexit on its short-term growth.

The warning comes as the bank reported a fall in profits in the first three months of 2019, from £808 million last year to £707m this time around.

RBS said continued uncertainty around the outcome of Brexit "is likely to make income growth more challenging in the near term" and delay business borrowing decisions.

Chief executive Ross McEwan, who yesterday announced his decision to step down, said: "This is a solid set of results set against a highly uncertain and competitive backdrop.

"We continue to support our customers through this Brexit uncertainty while investing and innovating in digital services to meet rapidly changing customer needs."