RBS Returns to Profit

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826 million pounds is today's daily digit. That's the pretax profit made by state-backed RBS in its first quarter. Quite a turnaround from the loss of 1.5 billion pounds in the same period last year, and the bank's first quarterly profit in 18 months. But RBS says the British government might still have to take a hit when it starts to sell its stake after keeping the bank afloat in the crisis. According to chairman Philip Hampton the sale could begin as early as mid-2014: