Financial Times FT.com

RBS and Lloyds set to spring surprises

By Jane Croft

Published: July 31 2009 20:52 | Last updated: July 31 2009 20:52

Lloyds and Royal Bank of Scotland, which were rescued by the government last year, are set to surprise the market next week by booking statutory first-half profits thanks to a raft of one-off gains and exceptionals.

Just nine months after the taxpayer took shares in the two struggling banks, analysts believe that both could report a headline profit after their earnings are inflated by the complex gains under accounting rules, even though they will make big underlying losses.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this