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Dow Jones – 28 Feb 2013
0910 GMT [Dow Jones] It seems as though investors have looked past the headline net loss figure in Royal Bank of Scotland’s (RBS.LN) FY results, and focused higher up the P&L, says Accendo Markets. Says the operating profit level highlights 89% progress over the past year, while core numbers show stability, with operating profit growth of 5%, core tier 1 capital above target 10%, and continued deleveraging. More specifically, points to progress towards the issue of being able to pay a dividend and the government sell down its 82% stake – “something market participants have been looking for evidence of over every set of results since its rescue.” Shares down 2.5% at 338p. ([email protected])
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