RBS Results: Good News For Taxpayers?

"RBS's management is taking steps to repair the balance sheet, reducing reliance is wholesale funding - and that's helping their margins," he said.
"They appear to be ahead of schedule in their restructuring plan."
But while RBS is making a loss, the rest of the UK's banking industry is seeing a return to bumper profits.
Last week Barclays, Which avoided direct government support in the wake of the financial crisis, reported profits of £ 11.6bn, and the market-leading investment bank Goldman Sachs reported profits of around £ 8.7bn earlier this year.
So how can RBS be doing so badly when the rest of the industry seems to be doing so well?
The first answer is that RBS is still dealing with the fall-out from the financial crisis. Turning bad loans cost the bank a total of £ 13.8bn in the Write-Downs last year.Read More Story,http://news.bbc.co.uk/2/hi/business/8528268.stm

RBS Results: Good News For Taxpayers?