Royal Bank of Scotland Group has said it will miss next year’s EU deadline to dispose of its Williams & Glyn business as it reported quarterly operating profits of £255 million. The bank, which is more than 70 per cent owned by the taxpayer, said that it was in talks with the Treasury, but had yet to meet European Commission officials to agree a solution over the sale. RBS was ordered to divest a start-up bank alongside other assets by the commission in return for the £45.5 billion in state aid that it received during the financial crisis.

Source: The Times October 28, 2016 08:01 UTC