Interim Management Statement for Q3 2012
- RBS reports a Q3 2012 operating profit (1) of £1,047 million
- Core RBS Q3 2012 operating profit £1,633 million
- Year-to-date Core return on tangible equity 10%
- Q3 2012 net attributable loss of £1,384 million, after £1,455 million pre-tax accounting charge for improved own credit
- Core Tier 1 ratio 11.1%, loan:deposit ratio 102%, Non-Core assets down to £65 billion.
(1) Operating profit before tax, own credit adjustments, Asset Protection Scheme, Payment Protection Insurance costs, amortisation of purchased intangible assets, integration and restructuring costs, loss on redemption of own debt, strategic disposals and RFS Holdings minority interest (‘operating profit’). Statutory operating loss before tax was £2,763 million for the nine months ended 30 September 2012.
Interim Management statement documents Q3 2012
- Summary announcement (pdf)
- Full announcement (pdf)
- Financial supplement (xls)
- Presentation slides (ppt)
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"The RBS restructuring programme continues to make excellent progress as we take the action needed to make the bank safer and stronger. Our funding and capital position has been transformed, we have repaid all emergency loans from the Government and central banks, and we recently exited the Asset Protection Scheme without ever making a claim. At the same time, we are working to make sure the needs of our customers are central in our decision making. Economic pressures are restraining customer activity levels and as a result banks are running hard to stand still in this environment. Nevertheless, resilient Core bank performance at RBS provides resources for customers and for our cleanup, whilst signposting shareholder value in the future."
Stephen Hester, Chief Executive, RBS Group
UK job creation continued in the three months to February with almost a quarter of a million more people in work. A second month of zero inflation also supported a respectable rise in price-adjusted pay. Yet weak price growth across most of the advanced economies is mainly due to lower oil prices and the cause of that is partly weak global demand. Hardly encouraging.
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