RBS bank posts first annual net profit in 10 years

London: State-rescued Royal Bank of Scotland on Friday announced its first annual post-tax profit since 2007, or the eve of the global financial crisis, following a huge drop in litigation costs.

RBS, saved a decade ago by the UK government in the world's biggest banking bailout, posted a net profit of £752 million ($1.05 billion, 853 million euros) in 2017 following nine straight annual losses, the Edinburgh-based lender said in a statement.