Royal Bank of Scotland Group (RBS) has revealed it expects first-half results to be in line with expectations after concluding its deal to buy Churchill.
RBS claimed its acquisition of Churchill for £1.1 billion would help underlying profits in the first half of 2003.
Meanwhile Churchill's former owner, Credit Suisse Group, has revealed that its Winterthur insurance arm may sell off further units to improve its capital position.
Chief Executive Leonhard Fischer said: "We don't have a divestment strategy. Our strategy is to strengthen the capital position of Winterthur Group and as part of that we also review our portfolio."
