Royal Bank of Scotland’s wealth division, dominated by Coutts & Co, suffered a 34% slump in operating profits to £217m in the nine months to September, as conditions for wealth management have become more challenging.

The fall was similar in scale to a drop of 41% over the same period at Société Générale's private banking division in France, confirmed earlier this week.

Royal Bank of Scotland's wealth division suffers 34% fall in operating profits to £217m in the nine months to September

Mike Foster

Royal Bank of Scotland

Société Générale

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Coutts suffers profit slump

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