Lower impairment losses helped Royal Bank of Scotland's
Royal Bank of Scotland
Impairment losses fell to 2.49 billion pounds from 2.68 billion in the first quarter, reflecting a strengthening of the global economy.
Europe's top banks, such as HSBC
RBS's core retail and commercial banking business posted higher revenues during the quarter, but its investment banking division had a more difficult time, with revenues falling 31 percent from the first quarter.
RBS said it was on track to meet its targets, which include plans to sell billions of pounds worth non-core assets.
Chief Executive Stephen Hester is shrinking the bank's balance sheet after an aggressive expansion by predecessor Fred Goodwin over the previous decade stretched the group's finances, leading RBS to be bailed out during the credit crisis.
RSB shares closed down 0.1 percent at 52 pence on Thursday, giving the bank a market capitalization of around 29.3 billion pounds. ($1=.6318 Pound)
(Reporting by Sudip Kar-Gupta; Editing by Steve Slater)