Royal Bank of Scotland report operating profit before tax of £4,232 million

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Royal Bank of Scotland plc (LON:RBS) has today announced its Annual Results for the year ended 31 December 2019. In a challenging market RBS has exceeded all of its 2019 financial targets: cost reduction above target; net lending growth ahead of target; RWAs below guidance; and 22 pence of total distributions to shareholders in 2019, while maintaining a CET1 ratio …

Royal Bank of Scotland Group

Royal Bank of Scotland announce changes to NWM Executive Management team

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Royal Bank of Scotland Group (LON:RBS) and its subsidiaries, Natwest Markets Plc (NWM) and Natwest Markets N.V. (NWM N.V.), today announced changes to the NWM Executive Management team. Chris Marks and Richard Place have stepped down as Chief Executive Officer and Chief Financial Officer of NWM, respectively. Chris has also stepped down as Chair, and Richard as a member, of …

Royal Bank of Scotland Group report an operating loss before tax of £8 million

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Royal Bank of Scotland Group (LON:RBS) announced its Interim Management Statement. RBS reported an operating loss before tax of £8 million, which included a £900 million provision in respect of Payment Protection Insurance (PPI), compared with an operating profit of £961 million in Q3 2018. ● Return on tangible equity was 7.0% for Q3 2019 excluding the PPI charge. ● …

Royal Bank of Scotland Group

Royal Bank of Scotland Group PLC Charges related to Payment Protection Insurance

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Royal Bank of Scotland Group plc (LON:RBS) today provided an update in respect of charges related to Payment Protection Insurance (“PPI”). RBS has been implementing the FCA’s policy statement for handling complaints about the mis-selling of PPI since 2011. Under the FCA’s Policy Statement 10/12, the deadline for filing complaints related to the mis-selling of PPI expired on 29 August 2019. To 30 …

Royal Bank of Scotland Group PLC Impact of Alawwal bank / Saudi British Bank merger

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Royal Bank of Scotland Group plc (LON:RBS) notes the completion of the merger of Alawwal bank and Saudi British Bank announced on 16 June 2019.  The completion of the merger impacts RBS and its subsidiaries NatWest Markets N.V. and NatWest Markets Plc.  RBS, through its Dutch subsidiary NWM NV, held an aggregate 40% shareholding in Alawwal bank on behalf of itself, …

Royal Bank of Scotland Group

Royal Bank of Scotland Group plc Brexit uncertainty likely to make income growth more challenging in the near term

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Royal Bank of Scotland Group plc (LON:RBS), today released Q1 Interim Management Statement RBS reported an operating profit before tax of £1,013 million, compared with £1,213 million in Q1 2018 primarily reflecting £265 million lower income, partially offset by £73 million lower operating expenses. ● Q1 2019 attributable profit of £707 million compared with £808 million in Q1 2018. Supporting …

Royal Bank of Scotland Group

Royal Bank of Scotland Group Plc Ross McEwan has resigned as Chief Executive Officer and Executive Director

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Royal Bank of Scotland Group Plc (LON:RBS) announced that Ross McEwan has resigned from his role as Chief Executive Officer (CEO) and Executive Director. Ross has a 12 month notice period and will remain in his position until a successor has been appointed and an orderly handover has taken place. The effective date of his departure will be confirmed in …

Royal Bank of Scotland Group

Royal Bank of Scotland Group PLC A good financial performance in uncertain economic conditions

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Royal Bank of Scotland Group PLC (LON:RBS) today announced 2018 performance summary ● Q4 2018 operating profit before tax of £572 million and an attributable profit of £286 million. Continued track record of delivery Income resilient in a competitive market: ● Income increased by £269 million, or 2.0%, compared with 2017. Excluding notable items, NatWest Markets and Central items, income …

Royal Bank of Scotland Group operating profit of £961 million

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Royal Bank of Scotland Group (LON:RBS), today released Q3 2018 interim management statement.

●Q3 2018 attributable profit of £448 million and £1,336 million for the year to date.

Income stable in a competitive market:

●Income increased by £268 million, or 2.7%, for the year to date compared with 2017. Excluding NatWest Markets and Central items and notable items in UK PBB and Commercial Banking, income was broadly stable.

●Q3 2018 income increased by £485 million, or 15.4%, compared with Q3 2017 principally reflecting indemnity insurance recoveries of £272 million and lower disposal losses.

●Q3 2018 net interest margin of 1.93% decreased by 8 basis points compared with Q2 2018. Excluding one-off items, net interest margin was down 5 basis points, of which 3 basis points related to competitive pressure and 2 basis points due to higher average liquidity balances.

Lower costs through continued transformation and incr