The bank recorded a net profit of £752 million ($1.05 billion) for 2017, surpassing analyst forecasts for a figure of £592 million. The lender's return to profit comes after nine years of annual losses in the wake of the group's taxpayer-funded bailout which left the United Kingdom government with a hefty stake in the bank.
"Ross McEwan, Chief Executive of RBS is quoted as saying that this is "a really symbolic moment".
"However, we have one major legacy issue that we have yet to resolve which is with the US Department of Justice".
Receive Royal Bank Scotland plc (The) News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Scotland plc (The) with MarketBeat.com's FREE daily email newsletter.
The bank's remuneration committee said it was continuing a "restrained approach to executive pay" and had adjusted long-term incentives to reflect areas where the bank did not meet targets, such as total shareholder returns.
Police officer dies after fans clash before Athletic Bilbao-Spartak Moscow tie
The incident late on February 22 raised concerns less than four months before Russian Federation is set to host the World Cup. At least five people were arrested after fireworks, flares and glasses were thrown between supporters in Bilbao .
Putin's Chef Ordered Russian Mercenaries to Attack US
Moreover, its advanced features would prove to be of little use in anti-terrorist operations in Syria . The wealthy businessman who allegedly tried to influence the USA election with a "troll farm" in St.
Trump Delivers Animated and Freewheeling Moments in CPAC Speech
But, the president added, that's no reason for Republican voters to get complacent. Oh, I try like hell to hide that bald spot, folks. Today, he had the crowd eating out of his hands.
Gross new mortgage lending for UK Personal and Business Banking (UK PBB), which accounts for the main bulk of RBS' lending in the UK, stood at £31.0bn against £31.9bn in 2016.
The bank had looked on course to post yet another annual loss for 2017, had the case reached a likely multibillion-pound settlement in time for the latest results.
The bank has charged ahead with its cost-cutting drive and restructuring plan, having cut expenses by £810m previous year - exceeding its £750m target.
"The opportunities created by greater simplification and automation, in terms of improved controls, cost reduction and a better customer experience, are significant for this bank", said McEwan.
The report said that developments in United Kingdom financial services, especially the introduction of disruptive technology "may impede the group's ability to grow or retain its market share and impact its revenues and profitability, particularly in its key United Kingdom retail banking segment".
Since 2008, RBS has reported losses of 58 billion GBP. "Two very big shadows still loom over RBS".