{"id":7565,"date":"2019-02-15T07:50:54","date_gmt":"2019-02-15T07:50:54","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/rbs-annual-profit-doubles-to-1-6bn\/"},"modified":"2019-02-15T07:50:54","modified_gmt":"2019-02-15T07:50:54","slug":"rbs-annual-profit-doubles-to-1-6bn","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/rbs-annual-profit-doubles-to-1-6bn\/","title":{"rendered":"RBS annual profit doubles to \u00a31.6bn"},"content":{"rendered":"\n
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\"RBSImage copyright<\/span>
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Royal Bank of Scotland has reported profits of \u00a31.62bn for 2018, more than double the \u00a3752m it made in 2017.<\/p>\n

The bank, which is 62%-owned by the government, said it would pay \u00a3977m to the Treasury through dividend payments.<\/p>\n

RBS chief executive Ross McEwan said: “This is a good performance in the face of economic and political uncertainty.”<\/p>\n

Mr McEwan also said the UK economy faced “a heightened level of uncertainty related to ongoing Brexit negotiations”.<\/p>\n

He told the BBC: “What we’re seeing already in the market place, and this has been happening over the last few quarters, is larger businesses have been pausing on their investments in the UK.<\/p>\n

“And over time that does trickle down into small businesses who support those larger businesses and therefore jobs and money that comes into this economy.<\/p>\n

“We have a very small period of time left until the end of March and it’s time that our politicians got to the conclusion so that we can get some certainty going forward.”<\/p>\n

He said that 2018 saw benign economic conditions continue, with low defaults by customers on their loans. <\/p>\n

But the bank’s statement<\/a> noted the potential impact of “ongoing political uncertainties and geopolitical tensions” which could affect its customers, and, as a result, defaults were expected to increase this year.<\/p>\n

Digital uptake<\/h2>\n

RBS has continued with its plan to shrink itself. Its assets, which in banking means its outstanding loans, shrank from \u00a3738.1bn to \u00a3694.2bn.<\/p>\n

Before the financial crisis, it was briefly the largest bank in the world by assets.<\/p>\n

The bank said the switch from physical to digital services was continuing to grow rapidly.<\/p>\n

RBS said 6.4 million customers now regularly used its mobile app, 16% higher than in 2017. <\/p>\n

Competition in the mortgage market meant profit margins remained thin, it said.<\/p>\n

Its net interest margin – the difference between what it pays for deposits and what it charges for loans, and a key measure of a bank’s ability to make money – shrank to 1.98% from 2.13%.<\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Getty Images Royal Bank of Scotland has reported profits of \u00a31.62bn for 2018, more than double the \u00a3752m it made in 2017. The bank, which is 62%-owned by the government, said it would pay \u00a3977m to the Treasury through dividend payments. RBS chief executive Ross McEwan said: “This is a good performance in … <\/p>\n","protected":false},"author":0,"featured_media":7566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7565"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7566"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}