RBS "bad bank" for problem assets

Updated
RBS
RBS

Royal Bank of Scotland is to create an internal "bad bank" of £38 billion of problem assets but avoid a full split, the bank and the Treasury have announced.

The 81% state-owned lender revealed the outcome of a four-month review into its future as it said operating profits more than halved to £438 million in the third quarter on a year earlier.
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