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First Active lowers RBOS margins

Royal Bank of Scotland - First Active lowers margins
Royal Bank of Scotland - First Active lowers margins

Royal Bank of Scotland, which owns Ulster Bank and First Active, has said it expects profits for the first half of this year to be in line with expectations.

In a trading statement, the group said there had been good growth in all divisions, though results at its Citizens bank in the US had been affected by the strength of sterling.

But it said the inclusion of First Active would result in a lower net interest margin.