RBS rebounds into £1.22-bln net profit

State-rescued Royal Bank of Scotland announced Friday that it rebounded into a net profit of almost £1.22 billion in the third quarter of this year. RBS said in a results statement that profits after tax stood at £1.226 billion ($1.96 billion, 1.42 billion euros) in the three months to September, compared with a net loss of £1.146 in the same part of last year. Pre-tax profits meanwhile hit £2 billion in the reporting period, which compared with a loss of £1.6 billion last time around. The British government owns 83 percent of the group following a huge state bail-out that was triggered by the 2008 global financial crisis.