RBS earnings ‘to beat analyst forecasts’

Royal Bank of Scotland, which heads the consortium that has taken over the Dutch ABN Amro bank, said on Thursday that its profit forecast for this year will be ‘higher than analysts’ expectations’.

Analysts have forecast a profit of £9.86bn (€13.7bn) but RBS says the figure will be higher despite the £1.25bn it will have to write off as a result of the US credit crisis. Some £300m of the write-offs come from the ABN Amro divisions taken over by RBS.

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