RBS first-quarter earnings down 12.5% amid Brexit worries

LONDON (AP) — Royal Bank of Scotland says first-quarter earnings fell 12.5% as economic uncertainty linked to Brexit curtailed lending.
Net income dropped to 707 million pounds ($912 million) from 808 million pounds in the same period last year as businesses delayed borrowing decisions. Britain’s government owns 62.4% of RBS following a taxpayer-funded bailout during the global financial crisis.
RBS warned Friday that uncertainty over Britain’s pending departure from the Europe