Shares in Royal Bank of Scotland were up on the FTSE 100 in afternoon trading, ahead of the bank's trading statement due out tomorrow.

Earlier this week Lloyds Banking Group issued its own statement in which it said it expected a "good" set of full year results.

Lloyds Banking Group is still 40 per cent owned by the British government, while RBS is still owned 80 per cent by the taxpayer.

Ahead of RBS' results shares rose on the FTSE 100.

By 16:10 shares in RBS were up 4.05 per cent to 47.00 pence per share.