Bank profits

The Royal Bank of Scotland (RBS) has returned to profit, making £1.14 billion in the first half of the year compared to £15 million during the same period last year.

HSBC, Lloyds and Northern Rock all posted strong profits this week, as the UK banking sector recovered from the financial crisis.

The bank announced earlier this week it would sell 318 branches to Spanish banking giant Santander.

But unions are demanding it halts the job cuts now that it is showing signs of recovery.

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