Royal Bank of Scotland says net profit gained almost 20 percent in first half

Royal Bank of Scotland Group PLC, the
British bank leading a takeover bid for ABN Amro Holding
NV, said Friday net profit rose almost 20 percent in the
first half of 2007, AP reported.
The bank said profit climbed to 3.56 billion pounds
(US$7.25 billion; ¤5.29 billion), from 2.98 billion pounds
in the first six months of 2006.
Revenue rose to 14.69 billion pounds (US$21.83 billion;
¤29.91 billion) from 13.64 billion pounds a year earlier.
A consortium of banks led by Royal Bank of Scotland has
bid ¤70.7 billion (US$96.9 billion) for ABN Amro _ around
10 percent higher than a rival offer by Barclays PLC.
RBS shares rose 1.7 percent to 601.5 pence (US$12.25;
¤8.94) in early trading on the London Stock Exchange.