Back Into The Black: UK's Bailed-Out Banks Record Profits

Profit is no longer a dirty word. Indeed this week, the UK taxpayer welcomed the posting of H110 profits by Britain's bailed-out banks. In a remarkable turnaround for the UK banking sector, both Royal Bank of Scotland (RBS) and Lloyds Banking Group saw their net profits swing back into the black, while fellow smaller state-backed lenders Northern Rock and Bradford & Bingley also saw their performances improve in the first-half.

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