RBS RAISES CITY HOPES AFTER

ROYAL Bank of Scotland turned its first profit since September 2015 today, offering hope it has finally turned the corner and suggesting the Government could start selling its 72% stake.

The bank, which sponsors the Six Nations rugby tournament, still faces massive headwinds in the face of a settlement of at least $10 billion (£7.7 billion) with the US Department of Justice over mis-sold mortgage bonds and a potentially embarrassing court case that could see former boss Fred Goodwin give evidence against it.

RBS made a profit of £259 million for the first quarter, compared with a loss of £968 million last time. Shares jumped 4% to 259p on the news — still a