This compared with losses of £1.68bn in the same period last year, while operating profit for the first half was £1.8bn, up 5% on the figure from H1 last year.
The bank also reported its core tier one ratio up to 11.1%, or 8.7% on a fully loaded Basel III basis.
Earlier this week RBS would not confirm McEwan’s appointment, which follows Hester’s forced resignation last month.
The positive results followed fellow part-state owned Lloyds’ announcement yesterday of £2.1bn in profits for the first half of 2013.
A recent survey by Hargreaves Lansdown revealed investors favour Lloyds over RBS as an investment. Find out more here…
Hester said: “RBS Group has earned its first two consecutive quarters of overall profit since 2008. The results of our successful restructuring continue to show benefits – capital strength and liquidity up, balance sheet, non-core assets and non-core/Irish losses all down, again.”
In its interim management statement the bank said it was confident of achieving a fully loaded Basel III core tier one ratio of over 9% by the end of this year.
Earlier this week Barclays announced intentions for a £5.8bn rights issue in order to shore its capital ratio up, sending its share price down as much as 7.4%.