UK taxpayer-owned bank reports first half-yearly profit for three years with full-year loss likely as it outlines plan to ensure passporting rights continue

Royal Bank of Scotland has revealed it is in discussions about using Amsterdam as its post-Brexit EU hub as it reported it had made a profit in the first six months of the year.

It is the first half-year profit for the bank – in which the taxpayer still owns a 71% stake – in three years.

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