REG - Royal Bk Scot.Grp. - Half Yearly Report - Part 1 <Origin Href="QuoteRef">RBS.L</Origin> - Part 2
29/10/2014 09:16
- Part 2: For the preceding part double click ID:nRSA9698Na
69 to 131inclusive are on a statutory basis. Reconciliations between the
non-statutory basis and statutory basis are included in Appendix 2.
Non-Core
Non-Core was dissolved with effect from 31 December 2013.
RBS Capital Resolution
RBS Capital Resolution (RCR) was established with effect from 1 January 2014 by the transfer of capital intensive and
higher risk assets from existing divisions. No business lines moved to RCR and prior period segmental reporting has not
been restated. The results of RCR were reported separately for the first time in Q1 2014.
Summary consolidated income statement
for the period ended 30 June 2014
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013* 2014 2014* 2013*
£m £m £m £m £m
Net interest income 5,496 5,442 2,798 2,698 2,770
Non-interest income 4,482 5,166 2,127 2,355 2,677
Total income (1) 9,978 10,608 4,925 5,053 5,447
Operating expenses (2) (7,108) (7,750) (3,700) (3,408) (4,156)
Operating profit before impairment losses (3) 2,870 2,858 1,225 1,645 1,291
Impairment (losses)/recoveries (269) (2,150) 93 (362) (1,117)
Operating profit (3) 2,601 708 1,318 1,283 174
Own credit adjustments (51) 376 (190) 139 127
Gain on redemption of own debt 20 191 - 20 242
Write-down of goodwill (130) - (130) - -
Strategic disposals 191 - - 191 6
RFS Holdings minority interest 21 99 12 9 (1)
Operating profit before tax 2,652 1,374 1,010 1,642 548
Tax charge (733) (678) (371) (362) (328)
Profit from continuing operations 1,919 696 639 1,280 220
Profit from discontinued operations, net of tax 35 138 26 9 9
Profit for the period 1,954 834 665 1,289 229
Non-controlling interests (42) (117) (23) (19) 14
Other owners' dividends (167) (182) (92) (75) (101)
Dividend Access Share dividend (320) - (320) - -
Profit attributable to ordinary and B shareholders 1,425 535 230 1,195 142
*Restated - see page 10.
Notes:
(1) Excluding own credit adjustments, gain on redemption of own debt, strategic disposals and RFS Holdings minority interest.
(2) Excluding RFS Holdings minority interest and write-down of goodwill.
(3) Operating profit before tax, own credit adjustments, gain on redemption of own debt, write-down of goodwill, strategic disposals, and RFS Holdings minority interest.
Analysis of results is set out on pages 14 to 23.
Summary consolidated balance sheet
at 30 June 2014
30 June 31 March 31 December
2014 2014 2013
£m £m £m
Cash and balances at central banks 68,670 69,647 82,659
Net loans and advances to banks (1,2) 28,904 28,302 27,555
Net loans and advances to customers (1,2) 385,554 390,780 390,825
Reverse repurchase agreements and stock borrowing 81,705 78,213 76,413
Debt securities and equity shares 120,628 130,498 122,410
Settlement balances 19,682 16,900 5,591
Intangible assets 12,173 12,428 12,368
Other assets (3) 18,886 19,708 22,018
Funded assets 736,202 746,476 739,839
Derivatives 274,906 277,294 288,039
Total assets 1,011,108 1,023,770 1,027,878
Bank deposits (2,4) 39,179 35,371 35,329
Customer deposits (2,4) 401,226 401,276 414,396
Repurchase agreements and stock lending 83,262 88,776 85,134
Debt securities in issue 59,087 61,755 67,819
Settlement balances 15,128 17,175 5,313
Short positions 39,019 37,850 28,022
Subordinated liabilities 24,809 24,139 24,012
Other liabilities (3) 18,348 21,986 23,112
Liabilities excluding derivatives 680,058 688,328 683,137
Derivatives 270,087 274,506 285,526
Total liabilities 950,145 962,834 968,663
Non-controlling interests 618 612 473
Owners' equity 60,345 60,324 58,742
Total liabilities and equity 1,011,108 1,023,770 1,027,878
Memo:
Tangible equity (5) 42,880 42,604 41,082
Tangible net asset value per ordinary and B share 376p 376p 363p
Notes:
(1) Excludes reverse repurchase agreements and stock borrowing.
(2) Excludes disposal groups.
(3) Includes disposal groups.
(4) Excludes repurchase agreements and stock lending.
(5) Tangible equity is equity attributable to ordinary and B shareholders less intangible assets.
Key points
30 June 2014 compared with 31 March 2014
· Funded assets decreased by £10 billion to £736 billion principally attributable to lower debt securities balances within CIB coupled with RCR disposals and run-off.
· Net loans and advances to customers decreased by £5 billion to £386 billion primarily driven by RCR run-off and disposals and the impact of sterling strengthening on US dollar denominated loans, partly offset by strong mortgage balance growth in UK PBB.
· Customer deposits remained stable at £401 billion as lower deposits in Private Banking, driven by repricing, and lower balances in CIB were offset by increased deposits in UK PBB.
Analysis of results
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013 2014 2014 2013
Net interest income £m £m £m £m £m
Net interest income (1) 5,468 5,435 2,784 2,684 2,748
Average interest-earning assets (1) 507,268 556,294 502,347 512,244 552,072
Net interest margin
- RBS 2.17% 1.97% 2.22% 2.12% 2.00%
- Personal & Business Banking 3.39% 3.15% 3.40% 3.37% 3.20%
- Commercial & Private Banking 2.90% 2.69% 2.91% 2.89% 2.77%
- Citizens Financial Group 2.94% 2.90% 2.93% 2.94% 2.89%
Note:
(1) For further analysis and details refer to pages 73 and 74.
Key points
H1 2014 compared with H1 2013
· Net interest income improved by 1% to £5,468 million. The increase was consistent across all businesses, with notable improvements in PBB (£97 million, 4%) and CPB (£90 million, 7%).
· Net interest margin (NIM) increased by 20 basis points to 2.17%, driven by deposit repricing initiatives across a number of businesses. The benefit of reduced funding costs outweighed lower yields on assets.
Q2 2014 compared with Q1 2014
· Net interest income improved by 4% to £2,784 million principally driven by improved margins and an additional day in the quarter.
· NIM increased by 10 basis points to 2.22%, driven by lower funding costs, reflecting repricing initiatives across a number of businesses, RCR run-off and a small number of one-off recoveries.
Q2 2014 compared with Q2 2013
· Net interest income improved by 1% to £2,784 million reflected by improved margins.
· NIM increased by 22 basis points to 2.22% benefiting from repricing initiatives across a number of businesses.
Analysis of results
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013 2014 2014 2013
Non-interest income £m £m £m £m £m
Net fees and commissions 2,118 2,248 1,063 1,055 1,142
Income from trading activities 1,482 1,890 626 856 874
Other operating income 882 1,028 438 444 661
Total non-interest income 4,482 5,166 2,127 2,355 2,677
Key points
H1 2014 compared with H1 2013
· Non-interest income declined by £684 million or 13%, principally reflecting a 22% reduction in income from trading activities, in line with CIB's smaller balance sheet and reduced risk profile.
· A net gain of £170 million ($283 million) was recorded on CFG's sale of its Illinois branch network.
· Gains on the disposal of available-for-sale securities in Treasury were down £245 million to £215 million for H1 2014 (Q2 2014 - £15 million; Q1 2014 - £200 million).
Q2 2014 compared with Q1 2014
· Non-interest income declined by £228 million or 10%, principally reflecting the seasonality of CIB income and lower disposal income in RCR. This was partly offset by the net gain on sale from CFG's branch sale.
Q2 2014 compared with Q2 2013
· Non-interest income declined by £550 million or 21%, which included the weaker performance of Currencies within CIB. This was largely in line with overall market trends and reflected weak client demand and low volatility.
· These movements were partly offset by the stronger performance of Rates in CIB and the net gain on sale of the Illinois retail branches, coupled with higher current account-related fee income.
Analysis of results
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013** 2014 2014** 2013**
Operating expenses £m £m £m £m £m
Staff expenses 3,340 3,585 1,693 1,647 1,764
Premises and equipment 1,079 1,079 485 594 526
Other 1,292 1,479 605 687 801
Restructuring costs* 514 271 385 129 149
Litigation and conduct costs 250 620 250 - 570
Administrative expenses 6,475 7,034 3,418 3,057 3,810
Depreciation and amortisation 551 716 282 269 346
Write-down of other intangible assets 82 - - 82 -
Operating expenses 7,108 7,750 3,700 3,408 4,156
Memo item
Adjusted operating expenses (1) 6,344 6,859 3,065 3,279 3,437
*Restructuring costs impact:
- staff expenses 196 142 153 43 76
- premises and equipment 196 25 137 59 22
- other 122 104 95 27 51
Restructuring costs 514 271 385 129 149
Staff costs as a % of total income 33% 34% 34% 33% 32%
Cost:income ratio 71% 73% 75% 67% 76%
Cost:income ratio - adjusted (1) 64% 65% 62% 65% 63%
**Restated - see page 10.
Note:
(1) Excluding restructuring costs and litigation and conduct costs.
Key points
H1 2014 compared with H1 2013
· Operating expenses were £642 million, 8%, lower. Adjusted operating expenses decreased by £515 million or 8% to £6,344 million. Much of the decrease was achieved in CIB through headcount reductions and tight control of discretionary expenditure. Overall operating expense trends are starting to show the benefits of the reshaping of the bank's cost base.
· Litigation and conducts costs totalled £250 million compared with £620 million in H1 2013, with an additional provision of £150 million (H1 2013 - £160 million) for Payment Protection Insurance redress recorded in UK PBB and a further £100 million (H1 2013 - £150 million) relating to interest rate hedging product redress booked within Commercial Banking and CIB. H1 2013 included provisions for other regulatory and legal actions of £385 million in CIB.
· Restructuring costs increased by £243 million to £514 million, including significant charges in relation to Williams & Glyn and to the restructuring of the property portfolio.
Analysis of results
Key points (continued)
Q2 2014 compared with Q1 2014
· Operating expenses were up £292 million, 9% reflecting higher restructuring and litigation and conduct costs. Adjusted operating expenses decreased by £214 million or 7%. This was principally driven by lower staff costs in CIB, operational cost saving initiatives in CPB and lower costs in PBB. This was only partly offset by higher staff costs in RCR.
Q2 2014 compared with Q2 2013
· Operating expenses were down £456 million, 11%, reflecting lower litigation and conduct costs. Adjusted operating expenses decreased by £372 million or 11%. The fall was consistent across all businesses, with notable declines in CIB (£114 million, 11%), CPB (£46 million, 7%). The decrease was helped by favourable foreign exchange movements.
Analysis of results
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013 2014 2014 2013
Impairment losses/(recoveries) £m £m £m £m £m
Loans 271 2,161 (89) 360 1,125
Securities (2) (11) (4) 2 (8)
Total impairment losses/(recoveries) 269 2,150 (93) 362 1,117
Loan impairment losses/(recoveries)
- individually assessed 113 1,472 (42) 155 826
- collectively assessed 348 734 221 127 293
- latent (180) (36) (258) 78 15
Customer loans 281 2,170 (79) 360 1,134
Bank loans (10) (9) (10) - (9)
Loan impairment losses/(recoveries) 271 2,161 (89) 360 1,125
RBS excluding RCR/Non-Core 290 1,258 36 254 659
RCR (19) n/a (125) 106 n/a
Non-Core n/a 903 n/a n/a 466
RBS 271 2,161 (89) 360 1,125
Customer loan impairment charge as a % of
gross loans and advances (1)
RBS excluding RCR/Non-Core 0.2% 0.6% - 0.3% 0.7%
RCR (0.1%) n/a (1.7%) 1.2% n/a
Non-Core n/a 3.9% n/a n/a 4.0%
30 June 31 March 31 December
2014 2014 2013
Loan impairment provisions £22.4bn £24.2bn £25.2bn
Risk elements in lending £34.1bn £37.4bn £39.4bn
Provision coverage (2) 66% 65% 64%
Notes:
(1) Excludes reverse repurchase agreements and includes disposals groups.
(2) Provision coverage represents loan impairment provisions as a percentage of risk elements in lending.
Key points
H1 2014 compared with H1 2013
· Loan impairment losses declined sharply by £1,890 million or 87%, including £180 million of releases of latent provisions (H1 2013 - £36 million). Asset quality continued to improve in the UK and Ireland.
· Loan impairments in RCR amounted to a net recovery of £19 million.
· Provision coverage strengthened to 66% compared with 64% at the end of 2013. REIL were £5.3 billion lower and represented 8.3% of gross customer loans, compared with 9.4% at the end of 2013.
Q2 2014 compared with Q1 2014
· A net recovery of £89 million was recorded in Q2 2014, compared with losses of £360 million in Q1 2014.
· The improvement in loan impairment losses was driven by the release of latent provisions in CPB and CIB and by a strong credit performance in RCR (a net recovery of £125 million compared with losses of £106 million in Q1 2014).
· REIL fell by £3.3 billion. As a percentage of gross loans to customers, REIL declined to 8.3% from 9.0% at 31 March 2014.
Analysis of results
Key points (continued)
Q2 2014 compared with Q2 2013
· Loan impairment recoveries totalled £89 million compared with losses of £1,125 million in Q2 2013 which included £466 million in respect of Non-Core.
· The improvement in impairments reflected significantly lower losses in Ulster Bank reflecting stronger credit metrics and the benefits of the investment in programmes to support customers in financial difficulty, and continued strong recoveries across UK PBB and release of latent provisions and non-repeat of significant individual cases in CPB.
· In Q2 2014 loan impairment recoveries in RCR were £125 million.
Analysis of results
Capital and leverage ratios
CRR end-point basis (1)
30 June 31 March 31 December
2014 2014 2013 (2)
Capital £bn £bn £bn
CET1 39.7 39.1 36.8
Tier 1 39.7 39.1 36.8
Total 48.7 47.3 45.5
RWAs by risk
Credit risk
- non-counterparty 283.3 295.2 317.9
- counterparty 38.6 41.3 39.1
Market risk 33.4 41.0 30.3
Operational risk 36.8 36.8 41.8
392.1 414.3 429.1
Risk asset ratios % % %
CET1 10.1 9.4 8.6
Tier 1 10.1 9.4 8.6
Total 12.4 11.4 10.6
30 June 31 March 31 December
Leverage ratio (3) 2014 2014 2013
Tier 1 capital - £bn 39.7 39.1 36.8
Exposure - £bn 1,070.2 1,083.4 1,082.0
Leverage ratio - % (3) 3.7 3.6 3.4
Notes:
(1) Capital Requirements Regulation (CRR) as implemented by the Prudential Resolution Authority in the UK, with effect from 1 January 2014.
(2) Estimated.
(3) Leverage ratio is calculated using:· CRR end-point Tier 1 capital; and· Exposure measure based on guidance in the BCBS 270 proposal issued in January 2014, supplemented by the instructions in the March 2014 Basel III Quantitative Impact Study and the related FAQs.
See Appendix 1 for further details on capital and leverage.
Key points
30 June 2014 compared with 31 March 2014
· The CRR end-point CET 1 ratio improved to 10.1% from 9.4%, principally driven by retained earnings after charging the initial DAS dividend of £320 million, and continuing reduction in RWAs and expected loss.
· RWAs decreased by £22 billion principally reflecting the £12 billion fall in CIB driven by risk reductions and mitigation costs and £5 billion of run-off and disposals in RCR.
Analysis of results
Key points (continued)
Capital and leverage ratios(continued)
30 June 2014 compared with 31 December 2013
· The CRR end-point CET 1 ratio improved to 10.1% from 8.6%, principally driven by retained earnings, continuing reduction in RWAs and regulatory capital deductions relating to deferred tax assets and expected loss.
· RWAs decreased by £37 billion principally attributable to the risk reductions and mitigation actions in CIB, and run-off and disposals in RCR.
· Leverage ratio improved by 30 basis points reflecting attributable profit, lower regulatory deductions as well as lower leverage exposure, particularly relating to derivatives in CIB.
For further details of RBS's capital and leverage ratios refer to Appendix 1.
Analysis of results
30 June 31 March 31 December
Balance sheet 2014 2014 2013
Funded balance sheet (1) £736bn £746bn £740bn
Total assets £1,011bn £1,024bn £1,028bn
Net loans and advances to customers (2) £387bn £392bn £393bn
Customer deposits (3) £401bn £404bn £418bn
Loan:deposit ratio - RBS (4) 96% 97% 94%
Loan:deposit ratio - RBS excluding RCR/Non-Core (4) 93% 93% 89%
Equity attributable to ordinary and B shareholders £55bn £55bn £53bn
Intangible assets £12bn £12bn £12bn
Tangible net assets £43bn £43bn £41bn
Number of ordinary and equivalent B shares in issue 11,400m 11,341m 11,303m
Tangible net asset value per ordinary and B share (5) 376p 376p 363p
Notes:
(1) Funded balance sheet represents total assets less derivatives.
(2) Excludes reverse repurchase agreements and stock borrowing, and includes disposal groups.
(3) Excludes repurchase agreements and stock lending, and includes disposal groups.
(4) Net of provisions, including disposal groups and excluding repurchase agreements. Excluding disposal groups, the loan:deposit ratios for RBS at 30 June 2014 was 96% (31 March 2014 - 97%; 31 December 2013 - 94%).
(5) Tangible net asset value per ordinary and B share represents total tangible equity divided by the number of ordinary shares in issue and the effect of convertible B shares.
Key points
30 June 2014 compared with 31 March 2014
· Funded assets decreased by £10 billion to £736 billion principally attributable to lower debt securities in CIB coupled with RCR run-off.
· Net loans and advances to customers decreased by £5 billion to £387 billion principally driven by RCR run-off and disposals, the impact of stronger sterling on US dollar denominated loans, partly offset by good mortgage balance growth in UK PBB.
· Customer deposits decreased by £3 billion driven by lower balances in CFG adversely impacted by foreign exchange movements, deposit repricing in Private Banking and lower balances in CIB. This was partly offset by increased deposit balances in UK PBB.
30 June 2014 compared with 31 December 2013
· Funded assets decreased by £4 billion to £736 billion principally driven by RCR run-off.
· Net loans and advances to customers decreased by £6 billion reflecting RCR run-off and the impact of currency movements.
· Customer deposits fell by £17 billion reflecting a managed run-down of surplus liquidity. The customer funding surplus decreased to £14 billion, while the loan:deposit ratio increased by 2 percentage points to 96%.
Analysis of results
30 June 31 March 31 December
Funding and liquidity metrics 2014 2014 2013
Deposits (1) £440bn £440bn £453bn
Deposits as a percentage of funded balance sheet 60% 59% 61%
Short-term wholesale funding (2) £34bn £31bn £32bn
Wholesale funding (2) £102bn £102bn £108bn
Wholesale funding as a percentage of funded balance sheet 14% 14% 15%
Short-term wholesale funding as a percentage of funded balance sheet 5% 4% 4%
Short-term wholesale funding as a percentage of total wholesale funding 33% 30% 30%
Liquidity portfolio £138bn £131bn £146bn
Liquidity portfolio as a percentage of funded balance sheet 19% 18% 20%
Liquidity portfolio as a percentage of short-term wholesale funding 406% 423% 456%
Notes:
(1) Customer and bank deposits excluding repurchase agreements and stock lending and includes disposal groups.
(2) Excludes derivative collateral.
Key points
30 June 2014 compared with 31 March 2014
· The bank remains highly liquid with short-term wholesale funding covered 4 times by its liquidity portfolio as at 30 June 2014 (4.2 times as at 31 March 2014).
· The liquidity portfolio increased by £7 billion to £138 billion, mainly driven by decreases in customer loan balances and higher Discount Window Facility assets.
30 June 2014 compared with 31 December 2013
· The liquidity portfolio decreased by £8 billion to £138 billion, mainly driven by a targeted reduction in volatile financial institution deposits in the first quarter of 2014, partly offset by decreases in customer loan balances and higher Discount Window Facility assets in the second quarter.
· Targeted reductions in long-term wholesale funding and customer deposits contributed to a 700 basis point decrease in the net stable funding ratio to 111%.
Segment performance
Key measures for each segment are shown in the tables below:
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013 2014 2014 2013
£m £m £m £m £m
Operating profit/(loss) (1) before impairment
losses by segment
UK Personal & Business Banking 1,142 944 544 598 394
Ulster Bank 112 122 56 56 53
Personal & Business Banking 1,254 1,066 600 654 447
Commercial Banking 666 695 305 361 384
Private Banking 145 95 71 74 49
Commercial & Private Banking 811 790 376 435 433
Corporate & Institutional Banking 269 26 (70) 339 (251)
Central items 79 550 73 6 349
Citizens Financial Group 525 404 308 217 199
RCR (68) n/a (62) (6) n/a
Non-Core n/a 22 n/a n/a 114
RBS operating profit before impairment losses 2,870 2,858 1,225 1,645 1,291
Impairment losses/(recoveries) by segment
UK Personal & Business Banking 148 256 60 88 126
Ulster Bank 57 503 10 47 263
Personal & Business Banking 205 759 70 135 389
Commercial Banking 31 282 (9) 40 155
Private Banking - 7 1 (1) 2
Commercial & Private Banking 31 289 (8) 39 157
Corporate & Institutional Banking (39) 223 (45) 6 144
Central items (12) (3) (13) 1 (3)
Citizens Financial Group 104 51 31 73 32
RCR (20) n/a (128) 108 n/a
Non-Core n/a 831 n/a n/a 398
RBS impairment losses/(recoveries) 269 2,150 (93) 362 1,117
Operating profit/(loss) (1) by segment
UK Personal & Business Banking 994 688 484 510 268
Ulster Bank 55 (381) 46 9 (210)
Personal & Business Banking 1,049 307 530 519 58
Commercial Banking 635 413 314 321 229
Private Banking 145 88 70 75 47
Commercial & Private Banking 780 501 384 396 276
Corporate & Institutional Banking 308 (197) (25) 333 (395)
Central items 91 553 86 5 352
Citizens Financial Group 421 353 277 144 167
RCR (48) n/a 66 (114) n/a
Non-Core n/a (809) n/a n/a (284)
RBS operating profit 2,601 708 1,318 1,283 174
Note:
(1) Operating profit/(loss) before own credit adjustments, gain on redemption of own debt, write-down of goodwill, strategic disposals and RFS Holdings minority interest.
Segment performance
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2014 2013 2014 2014 2013
% % % % %
Net interest margin by segment
UK Personal & Business Banking 3.62 3.50 3.64 3.61 3.56
Ulster Bank 2.32 1.82 2.35 2.29 1.84
Personal & Business Banking 3.39 3.15 3.40 3.37 3.20
Commercial Banking 2.70 2.53 2.73 2.68 2.63
Private Banking 3.72 3.33 3.73 3.70 3.34
Commercial & Private Banking 2.90 2.69 2.91 2.89 2.77
.
Corporate & Institutional Banking 0.88 0.72 0.90 0.85 0.67
Citizens Financial Group 2.94 2.90 2.93 2.94 2.89
RCR (0.01) n/a 0.08 (0.08) n/a
Non-Core n/a (0.06) n/a n/a 0.15
RBS net interest margin 2.17 1.97 2.22 2.12 2.00
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Funded assets by segment
UK Personal & Business Banking 133.6 132.8 132.2
Ulster Bank 26.6 26.0 28.0
Personal & Business Banking 160.2 158.8 160.2
Commercial Banking 88.6 89.6 87.9
Private Banking 20.8 21.1 21.0
Commercial & Private Banking 109.4 110.7 108.9
Corporate & Institutional Banking 278.7 286.6 268.6
Central items 90.3 89.5 101.9
Citizens Financial Group 75.7 75.7 71.3
RCR 20.9 24.3 n/a
Non-Core n/a n/a 28.0
735.2 745.6 738.9
RFS Holdings minority interest 1.0 0.9 0.9
RBS funded assets 736.2 746.5 739.8
Segment performance
FLB3 Basel 2.5
30 June 31 March 1 January 31 December
2014 2014 2014 2013
£bn £bn £bn £bn
Risk-weighted assets by segment
UK Personal & Business Banking 47.0 48.5 49.7 51.2
Ulster Bank 27.7 28.7 28.2 30.7
Personal & Business Banking 74.7 77.2 77.9 81.9
Commercial Banking 63.0 63.5 61.5 65.8
Private Banking 11.8 12.0 12.0 12.0
Commercial & Private Banking 74.8 75.5 73.5 77.8
Corporate & Institutional Banking 127.8 140.2 147.1 120.4
Other
- More to follow, for following part double click ID:nRSA9698NcRecent news on Natwest
See all newsREG - NatWest Group plc - Transaction in Own Shares
AnnouncementREG - Stock Exch Notice - Admission to Trading - 18/12/2025
AnnouncementREG - NatWest Group plc - Transaction in Own Shares
AnnouncementREG - NatWest Group plc - Transaction in Own Shares
AnnouncementREG - Natwest Markets PLC - Publication of Final Terms
Announcement