Khalaf also noted that the RBS results are in stark contrast to yesterday’s figures from Lloyds, and demonstrate just how much daylight has opened up between the banks since the financial crisis. “RBS is heading in the same direction as Lloyds and will probably get there, but it’s going to be a long haul,” he said.
Elsewhere in the FTSE 100 education company Pearson’s shares climbed 5% on the release of its full year numbers. The company reported a loss before tax of £433m for 2015, down from a profit before tax of £255m the year before. This was seemingly not as bad as many investors expected.
Engineering business IMI’s shares were also on the up, rising 1.7% after it reported a decline of 5% in revenues, a 15% decline in operating profits, but a 2% increase in the annual dividend to 38.4p per share.
