Savings accounts provider RBS 'moving in the right direction'

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Savings accounts provider RBS 'moving in the right direction'

Following the news that RBS has recorded profits of £9 million in the first six months of the year, The Share Centre has suggested the institution is on track for a recovery.

Graham Spooner, investment adviser at the firm, stressed that plenty of work remains to be done at the bank, but there are positives for the organisation to enjoy.

"RBS is seemingly moving in the right direction with these results and although the five year plan makes sound business sense, it still remains a high risk investment," he said.

Mr Spooner noted that The Share Centre continues to label the company's stocks as "sell" recommendations and claimed that dividends are not likely to be handed out until the government's stake in the company is sold.

Co-chair of the Liberal Democrat treasury policy committee Stephen Williams responded to RBS's financial results for the previous six months by urging the bank to lend more.

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