Shares in British banks were broadly down on the FTSE 100 after RBS and HSBC issued their third quarter statements today.
RBS reported a pre-tax loss of £1.38 billion in the third quarter, down from a loss of £2.08 billion in the same quarter last year but up from a loss of £1.16 billion in the second quarter of this year.
HSBC however, which unlike RBS was not bailed out by the taxpayer, had rather better news, saying that its third quarter pre-tax profits were "well ahead" of the same quarter last year, thanks to lower impairment charges.
Earlier this week Lloyds Banking Group issued its own statement in which it said it expected to see a "good" full year performance.
Barclays is due to issue a statement early next week.
By 10:45 shares in Lloyds Banking Group were down 0.28 per cent to 70.05 pence per share, RBS shares fell 2.61 per cent to 45.91 pence per share and HSBC shares declined 0.98 per cent to 688.30 pence per share.
However Barclays shares rose 0.52 per cent to 288.60 pence per share.
Overall the FTSE 100 was up 0.01 per cent to 5,863.33.