RBS International Annual Results 2017:
- RBS International returned a pre-tax adjusted operating profit of £184m in 2017. RBS International has now reported 21 years of consecutive profit.
- RBS International is focused on meeting more of its customers’ financial needs. In 2017 its income from customer activity increased by £15m, or 4% year on year, due to strong lending activity offset by reduced income on deposits from lower interest rates.
- The bank helped 1,900 customers buy their home in 2017.
- RBS International increased its total operating costs by 20% to £202m due to substantially increased investment in its business and a 9% increase in its workforce.
- The substantial investment in the business contributed to a reduction in year-on-year pre-tax adjusted operating profit of 6%.
- RBS International will retain all of the 2017 profit in the business in preparation for further balance sheet changes ahead of its transition to a bank outside of the UK ring fence.
Andrew McLaughlin, CEO, RBS International said:
«Our results for 2017 reflect our strategic intent to build a strong and stable bank. We are helping more customers with their financial needs and we continue to invest more money to secure the future growth and stability of the bank. In 2017 we opened two new branches in Luxembourg and London to help us achieve our ambition of being the number one Funds Banking service provider in Western Europe.»