On Friday, the shares of Royal Bank of Scotland Group Plc (RBS) were reported with a hike of more than 3% in spite of widened first-quarter loss from accounting charges and rising bad debts in Ireland while at 0805 GMT, the stock was up 3.5%, at 42 pence.

The Chief Executive, Stephen Hester, has claimed significant profit improvements in core business of bank and said that the financial crisis was the outcome of an attempt which was directed to discard the state support. Further, the bank has covered the half of its way towards the 5 years recovery plan which includes winding down, selling assets along with the business lines.

"We think it would be a good thing if a report is published, as there's a risk that people think there's some smoking gun. If there is, we haven't found it”, added Mr. Hester.

The RBS, which is majority-owned by the British government, has reported a first quarter loss of 528 million pounds ($841.5 million) and the clients in Ireland are putting hard efforts to reimburse the loans against the non feasible economic conditions. The bank has claimed a 25% increase in core operating profit.

On the other hand, the total charge for bad debts, 1.95 billion pounds, was observed to roll down 9% from the final quarter of 2010.