Royal Bank of Scotland (RBS) said it is paying way to let the UK government sell its 82% profit as it posted strongest underlying profit since the height of 2008 financial crisis.
During the economic downtown, the government had bailed out RBS for 45.5 billion pounds. However, knowing that RBS is showing positive signs of recovery, the government is expected to seek for the sale of its 82% holding.
In 2012, RBS reported 3.5 billion pounds in operating profit, an increase from 1.8 billion in the earlier year and the highest record since the government bailout.
Great Britain is looking at ways to privatize the bank that would include selling the shares to the public at a discount.
RBS and other banks in the country are facing pressure from the government to lend more to small business and households in an attempt to revive the troubled British economy.
Join the Conversation