2014 was in many respects a tough year for staff and customers here at RBS. But it was also a year that marked a continuation of the progress we’ve made on our customer agenda. And on the question of culture, last year showed the real progress we’ve made when it comes to having the right culture for our staff and our customers.
This was really tested when we had to face up to some difficult issues of the past, things like our FX fine. How we face those issues is important because it’s a real test of our culture. And I’m proud that in 2014 we acknowledged our past mistakes and dealt with them with the right level of focus and accountability. We really have to be relentless in dealing with these issues in the proper way. There is no place for misconduct at the RBS we are building.
Despite the challenges we faced in dealing with the issues of past wrong doings, 2014 was also a year of considerable progress on how we think about customers. Things like fairer pricing, simplifying our product range and dealing with customers in an open and transparent way are great examples and steps forward in making life easier for our customers. By simplifying our business and minimising the level of complexity we can really start to deliver the right outcome for customers, on a sustainable basis. And that’s really important.
Looking forward to 2015, I can see that we’ve got multiple challenges but the commitment to make life simpler and fairer for our customers is key. I can see that there’s a clear determination across the bank to put our customers at the heart of everything we do.
We’ve set a very clear goal for 2020 – it’s a tall and ambitious target and everything we do has to point us in that direction. How we deal with the issues from the past sends a very strong signal to staff and customers about how serious we are about making that ambition a reality. Everything we do in steering the bank forward in 2015 and beyond is about making that goal tangible and alive for customers so that they notice a difference. We’re determined to make that the focus of the bank going forward.