BETTER POSITION: RBS has hailed stronger economic conditions for lifting its recovery
STRONGER economic conditions have boosted the recovery at Royal Bank of Scotland after it cut the amount of money set aside to cover bad loans.
The taxpayer-backed bank issued a trading update, wherein it said it expects to significantly beat its previous guidance for about £1bn of loan impairments in the financial year.
This has been driven by improved performances at Ulster Bank and RBS Capital Resolution, which contains the bank's troublesome assets.
However, the bank warned it still faced many bumps on the road to recovery, particularly relating to conduct and litigation matters.
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