Despite RBS' progress, better opportunities are to be had for investors

As Royal Bank of Scotland (RBS) reports its full year results, Graham Spooner, investment research analyst at The Share Centre believes there are better opportunities for investors.
 
"Despite headlines dominated by the reported losses in RBS' full year results, management continues to make progress with its long term recovery plans and it is hoped that 2013 will be the last year for restructuring, which could restore some confidence.
 
"Progress has been made in the shrinking of the business with the bank confirming it will float part of its US retail bank. However, concerns may be raised over the provisions for mis-selling PPI and hedging products continue to feature in the updates.
 
"Since September there has been a recovery in the share price on the back of hopes that the worst may now be over for the sector. However, at these levels we believe there are better opportunities to be had for investors.
 
"An appetite for the sector does remain among investors, both short and long term, and for those looking for exposure to the banks Barclays is our preferred investment choice in the sector."