tiscali money: RBS profits beat forecasts (2006)

The Royal Bank of Scotland has reported record profits and reassured investors it continues to avoid the damaging level of bad debts that have hurt its rivals. RBS stressed again today the benefits of having avoided lending to the "sub-prime" sector - those who are not traditionally targeted by banks."We have retained our inherently cautious stance towards higher risk activities such as unsecured consumer lending and sub-prime credit markets more generally," said Sir Fred.