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Brexit

Royal Bank of Scotland issues Brexit warning as profits fall

Bank says delay in business borrowing decisions is likely to make income growth more challenging in the near term

Royal Bank of Scotland beat market expectations for its first-quarter profit but warned Brexit uncertainty is likely to weigh on short-term revenue growth.

The UK bank made a quarterly pre-tax profit of £1.01bn ($1.30bn), down from £1.21bn in the year-earlier quarter. Net profit fell to £707m from £808m.

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