By Jonathan Davies
Royal Bank of Scotland (RBS) has reported a 27% rise in profits for the second quarter, compared with the same period last year.
The banking giant posted profits of £293 million for the three months to the end of June. It compares to a £153m loss in the first quarter of 2015.
RBS said the growth was driven by its mortgages division, which saw applications rise to £9.4 billion.
In the first half of the year, however, RBS posted a £153 million loss after setting aside £459m for litigation costs in the first quarter.
