REG - Royal Bk Scot.Grp. - Preliminary Interim Results 2014 <Origin Href="QuoteRef">RBS.L</Origin> - Part 2
06/09/2014 20:35
- Part 2: For the preceding part double click ID:nRSY2982Na
Banking 1,142 944 544 598
Ulster Bank 112 122 56 56
Personal & Business Banking 1,254 1,066 600 654
Commercial Banking 666 695 305 361
Private Banking 145 95 71 74
Commercial & Private Banking 811 790 376 435
Corporate & Institutional Banking 269 26 (70) 339
Central items 79 550 73 6
2,413 2,432 979 1,434
Citizens Financial Group 525 404 308 217
RCR (68) n/a (62) (6)
Non-Core n/a 22 n/a n/a
RBS operating profit(1) before impairment losses 2,870 2,858 1,225 1,645
Impairment losses/(recoveries) by segment
UK Personal & Business Banking 148 256 60 88
Ulster Bank 57 503 10 47
Personal & Business Banking 205 759 70 135
Commercial Banking 31 282 (9) 40
Private Banking - 7 1 (1)
Commercial & Private Banking 31 289 (8) 39
Corporate & Institutional Banking (39) 223 (45) 6
Central items (12) (3) (13) 1
185 1,268 4 181
Citizens Financial Group 104 51 31 73
RCR (20) n/a (128) 108
Non-Core n/a 831 n/a n/a
RBS impairment losses 269 2,150 (93) 362
Operating profit/(loss)(1) by segment
UK Personal & Business Banking 994 688 484 510
Ulster Bank 55 (381) 46 9
Personal & Business Banking 1,049 307 530 519
Commercial Banking 635 413 314 321
Private Banking 145 88 70 75
Commercial & Private Banking 780 501 384 396
Corporate & Institutional Banking 308 (197) (25) 333
Central items 91 553 86 5
2,228 1,164 975 1,253
Citizens Financial Group 421 353 277 144
RCR (48) n/a 66 (114)
Non-Core n/a (809) n/a n/a
RBS operating profit(1) 2,601 708 1,318 1,283
Note:
(1) Operating profit before own credit adjustments, gain on redemption of own debt, strategic disposals and RFS Holdings minority interest.
Personal & Business Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 2,599 2,502 1,321 1,278
Net fees and commissions 703 693 338 365
Other non-interest income 72 78 51 21
Non-interest income 775 771 389 386
Total income 3,374 3,273 1,710 1,664
Direct expenses (836) (820) (401) (435)
Indirect expenses (1,101) (1,072) (518) (583)
Restructuring costs (33) (130) (41) 8
Litigation and conduct costs (150) (185) (150) -
(2,120) (2,207) (1,110) (1,010)
Profit before impairment losses 1,254 1,066 600 654
Impairment losses (205) (759) (70) (135)
Operating profit 1,049 307 530 519
Memo items
Total expenses - adjusted (1) (1,937) (1,892) (919) (1,018)
Operating profit - adjusted (1) 1,232 622 721 511
Performance ratios
Cost:income ratio 63% 67% 65% 61%
Cost:income - adjusted (1) 57% 58% 54% 61%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 160.2 158.8 160.2
Net loans and advances to customers 148.8 148.7 150.8
Customer deposits 166.7 165.7 166.6
Risk-weighted assets (2) 74.7 77.2 81.9
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
UK Personal & Business Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 2,276 2,200 1,152 1,124
Net fees and commissions 637 624 304 333
Other non-interest income 49 5 43 6
Non-interest income 686 629 347 339
Total income 2,962 2,829 1,499 1,463
Direct expenses (676) (669) (321) (355)
Indirect expenses (975) (947) (455) (520)
Restructuring costs (19) (109) (29) 10
Litigation and conduct costs (150) (160) (150) -
(1,820) (1,885) (955) (865)
Profit before impairment losses 1,142 944 544 598
Impairment losses (148) (256) (60) (88)
Operating profit 994 688 484 510
Memo items
Total expenses - adjusted (1) (1,651) (1,616) (776) (875)
Operating profit - adjusted (1) 1,163 957 663 500
Performance ratios
Cost:income ratio 61% 67% 64% 59%
Cost:income ratio - adjusted (1) 56% 57% 52% 60%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 133.6 132.8 132.2
Net loans and advances to customers 126.4 125.5 124.8
Customer deposits 146.0 144.6 144.9
Risk-weighted assets (2) 47.0 48.5 51.2
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
Ulster Bank
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 323 302 169 154
Net fees and commissions 66 69 34 32
Other non-interest income 23 73 8 15
Non-interest income 89 142 42 47
Total income 412 444 211 201
Direct expenses (160) (151) (80) (80)
Indirect expenses (126) (125) (63) (63)
Restructuring costs (14) (21) (12) (2)
Litigation and conduct costs - (25) - -
(300) (322) (155) (145)
Profit before impairment losses 112 122 56 56
Impairment losses (57) (503) (10) (47)
Operating profit 55 (381) 46 9
Memo items
Total expenses - adjusted (1) (286) (276) (143) (143)
Operating profit - adjusted (1) 69 (335) 58 11
Performance ratios
Cost:income ratio 73% 73% 73% 72%
Cost:income ratio - adjusted (1) 69% 62% 68% 71%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 26.6 26.0 28.0
Net loans and advances to customers 22.4 23.2 26.0
Customer deposits 20.7 21.1 21.7
Risk-weighted assets (2) 27.7 28.7 30.7
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
Commercial & Private Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 1,343 1,253 685 658
Net fees and commissions 620 657 311 309
Other non-interest income 150 170 74 76
Non-interest income 770 827 385 385
Total income 2,113 2,080 1,070 1,043
Direct expenses (581) (602) (287) (294)
Indirect expenses (606) (629) (293) (313)
Restructuring costs (65) (34) (64) (1)
Litigation and conduct costs (50) (25) (50) -
(1,302) (1,290) (694) (608)
Profit before impairment losses 811 790 376 435
Impairment (losses)/recoveries (31) (289) 8 (39)
Operating profit 780 501 384 396
Memo items
Total expenses - adjusted (1) (1,187) (1,231) (580) (607)
Operating profit - adjusted (1) 895 560 498 397
Performance ratios
Cost:income ratio 62% 62% 65% 58%
Cost:income ratio - adjusted (1) 56% 59% 54% 58%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 109.4 110.7 108.9
Net loans and advances to customers 100.4 101.6 100.2
Customer deposits (excluding repos) 123.9 124.2 127.9
Risk-weighted assets (2) 74.8 75.5 77.8
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
Commercial Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 999 936 511 488
Net fees and commissions 448 477 227 221
Other non-interest income 121 136 60 61
Non-interest income 569 613 287 282
Total income 1,568 1,549 798 770
Direct expenses (389) (399) (193) (196)
Indirect expenses (401) (401) (189) (212)
Restructuring costs (62) (29) (61) (1)
Litigation and conduct costs (50) (25) (50) -
(902) (854) (493) (409)
Profit before impairment losses 666 695 305 361
Impairment (losses)/recoveries (31) (282) 9 (40)
Operating profit 635 413 314 321
Memo items
Total expenses- adjusted (1) (790) (800) (382) (408)
Operating profit - adjusted (1) 747 467 425 322
Performance ratios
Cost:income ratio 58% 55% 62% 53%
Cost:income ratio - adjusted (1) 50% 52% 48% 53%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 88.6 89.6 87.9
Net loans and advances to customers 83.9 84.9 83.5
Customer deposits (excluding repos) 88.0 87.6 90.7
Risk-weighted assets (2) 63.0 63.5 65.8
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
Private Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 344 317 174 170
Net fees and commissions 172 180 84 88
Other non-interest income 29 34 14 15
Non-interest income 201 214 98 103
Total income 545 531 272 273
Direct expenses (192) (203) (94) (98)
Indirect expenses (205) (228) (104) (101)
Restructuring costs (3) (5) (3) -
(400) (436) (201) (199)
Profit before impairment losses 145 95 71 74
Impairment (losses)/recoveries - (7) (1) 1
Operating profit 145 88 70 75
Memo items
Total expenses - adjusted (1) (397) (431) (198) (199)
Operating profit - adjusted (1) 148 93 73 75
Performance ratios
Cost:income ratio 73% 82% 74% 73%
Cost:income ratio - adjusted (1) 73% 81% 73% 73%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 20.8 21.1 21.0
Net loans and advances to customers 16.5 16.7 16.7
Customer deposits (excluding repos) 35.9 36.6 37.2
Risk-weighted assets (2) 11.8 12.0 12.0
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
Corporate & Institutional Banking
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income from banking activities 365 314 186 179
Net fees and commissions 490 556 247 243
Income from trading activities 1,482 1,753 597 885
Other operating income 90 85 46 44
Non-interest income 2,062 2,394 890 1,172
Total income 2,427 2,708 1,076 1,351
Direct expenses (748) (864) (363) (385)
Indirect expenses (1,169) (1,325) (581) (588)
Restructuring costs (191) (83) (152) (39)
Litigation and conduct costs (50) (410) (50) -
(2,158) (2,682) (1,146) (1,012)
Profit/(loss) before impairment losses 269 26 (70) 339
Impairment recoveries/(losses) 39 (223) 45 (6)
Operating profit/(loss) 308 (197) (25) 333
Memo items
Total expenses - adjusted (1) (1,917) (2,189) (944) (973)
Operating profit - adjusted (1) 549 296 177 372
Performance ratios
Cost:income ratio 89% 99% 107% 75%
Cost:income ratio - adjusted (1) 79% 81% 88% 72%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 278.7 286.6 268.6
Net loans and advances to customers 69.0 70.5 68.2
Customer deposits (excluding repos) 55.5 57.1 64.8
Risk-weighted assets (2) 127.8 140.2 120.4
Notes:
(1) Excluding restructuring costs and litigation and conduct costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis. On a fully loaded Basel 3 basis risk-weighted assets at 1 January 2014 were £147.1 billion.
Citizens Financial Group
Half year ended Quarter ended
30 June 30 June 30 June 31 March
2014 2013 2014 2014
£m £m £m £m
Income statement
Net interest income 987 939 499 488
Net fees and commissions 350 382 181 169
Other non-interest income 270 188 210 60
Non-interest income 620 570 391 229
Total income 1,607 1,509 890 717
Direct expenses (1,013) (1,054) (513) (500)
Indirect expenses - (48) - -
Restructuring costs (69) (3) (69) -
(1,082) (1,105) (582) (500)
Profit before impairment losses 525 404 308 217
Impairment losses (104) (51) (31) (73)
Operating profit 421 353 277 144
Memo items
Total expenses - adjusted (1) (1,013) (1,102) (513) (500)
Operating profit - adjusted (1) 490 356 346 144
Performance ratios
Cost:income ratio 67% 73% 65% 70%
Cost:income ratio - adjusted (1) 63% 73% 58% 70%
30 June 31 March 31 December
2014 2014 2013
£bn £bn £bn
Capital and balance sheet
Funded assets 75.7 75.7 71.3
Net loans and advances to customers 51.7 52.7 50.3
Customer deposits (excluding repos) 52.9 54.9 55.1
Risk-weighted assets (2) 60.7 61.3 56.1
Notes:
(1) Excluding restructuring costs.
(2) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
RBS Capital Resolution
Half year
ended Quarter ended
30 June 30 June 31 March
2014 2014 2014
£m £m £m
Income statement
Net interest income/(expense) 11 16 (5)
Net fees and commissions 31 17 14
Income from trading activities (53) (69) 16
Other operating income 119 71 48
Non-interest income 97 19 78
Total income 108 35 73
Direct expenses (121) (65) (56)
Indirect expenses (55) (32) (23)
(176) (97) (79)
Loss before impairment losses (68) (62) (6)
Impairment recoveries/(losses) 20 128 (108)
Operating (loss)/profit (48) 66 (114)
30 June 31 March
2014 2014
£bn £bn
Capital and balance sheet
Funded assets 20.9 24.3
Net loans and advances to customers 15.6 18.3
Risk-weighted assets (1) 35.1 40.5
Note:
(1) On a fully loaded Basel 3 basis risk-weighted assets at 1 January 2014 were £46.7 billion.
Non-Core
Half year ended
30 June 2013
£m
Income statement
Net interest income 2
Non-interest income 364
Total income 366
Direct expenses (213)
Indirect expenses (108)
Restructuring costs (23)
(344)
Profit before impairment losses 22
Impairment losses (831)
Operating loss (809)
31 December
2013
£bn
Capital and balance sheet
Funded assets 28.0
Net loans and advances to customers 22.9
Customer deposits (excluding repos) 2.2
Risk-weighted assets (1) 29.2
Note:
(1) Risk-weighted assets at 31 December 2013 are on a Basel 2.5 basis.
This information is provided by RNS
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