Royal Bank of Scotland this morning echoed Barclays, its arch rival in the battle for Dutch bank ABN Amro, by reporting a strong start to the year for its investment banking arm which it has put centre stage in its bid for the Dutch bank.

RBS said in a pre-close trading update ahead of its half-year results on August 3 that its global banking and markets business, which it is proposing to combine with ABN Amro's wholesale banking and global clients divisions, showed "continuing strength" so far this year.