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		</div><p>Royal Bank of Scotland has unveiled a bumper £1.7 billion payout for shareholders, delivering a surprise windfall for the British taxpayer.</p>
<p>The bank announced a special dividend of 12p per share alongside an ordinary interim payment of 2p per share.</p>
<p>An estimated £1 billion of the £1.7 billion payout will be returned to the taxpayer owing to the British Government’s stake in the bank.</p>
<p>It comes as RBS said it had achieved its highest half-year bottom-line profits in more than a decade, with attributable profits jumping 130% to £2 billion.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">RBS 2019 H1 results have now been released: <a href="https://twitter.com/hashtag/RBSResults?src=hash&;ref_src=twsrc%5Etfw">#RBSResults</a> <a href="https://t.co/QH7lDY79hM">https://t.co/QH7lDY79hM</a></p>
<p>&mdash; RBS (@RBS) <a href="https://twitter.com/RBS/status/1157169668777545728?ref_src=twsrc%5Etfw">August 2, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Meanwhile, operating pre-tax profits outstripped forecasts, rising 48% to £2.7 billion.</p>
<p>The figures were boosted by the sale of its stake in Saudi bank Alawwal, which completed its merger with Saudi British Bank in June.</p>
<p>Attributable profit for the second quarter was up 35% to £1.3 billion.</p>
<p>Return on tangible equity was 12.1% in the period, but the company warned that, due to the uncertain economic environment, it was not likely to achieve higher than this level in 2020.</p>
<p>However it maintained its target in the medium term.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">Here’s a snapshot of our key numbers from today. Read more: <a href="https://twitter.com/hashtag/RBSResults?src=hash&;ref_src=twsrc%5Etfw">#RBSResults</a> <a href="https://t.co/QH7lDY79hM">https://t.co/QH7lDY79hM</a> <a href="https://t.co/O3HeCMsDvo">pic.twitter.com/O3HeCMsDvo</a></p>
<p>&mdash; RBS (@RBS) <a href="https://twitter.com/RBS/status/1157179178233544704?ref_src=twsrc%5Etfw">August 2, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Costs were down by £173 million, with a target in place for £300 million savings by the end of the year.</p>
<p>Net lending was up 2.5%, while the bank recorded £14.3 billion in gross new mortgage lending.</p>
<p>Bank net interest margin slipped 5 basis points lower to 2.02% in the second quarter, as competitive pressures in the mortgage business took their toll.</p>
<p>Chief executive Ross McEwan said: <em>“Given the uncertain and competitive environment, we are focused on the areas we can control; costs are down, capital and liquidity are strong, and we continue to grow lending to the real economy.”</em></p>
<p>No announcements were made regarding the hunt for Mr McEwan’s successor, nor was any new provision made for PPI claims.</p>
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