Annual Results 2016

Annual Results 2016

RBS reports Annual Results 2016.

Our news

24 February 2017

RBS reported an operating loss before tax of £4,082 million for 2016 and an attributable loss (1) of £6,955 million, which included litigation and conduct costs of £5,868 million, restructuring costs of £2,106 million, the final Dividend Access Share (DAS) dividend of £1,193 million and Capital Resolution disposal losses and impairments of £825 million. Restructuring costs included a £750 million provision in respect of the 17 February 2017 update on RBS’s remaining State Aid obligation regarding Williams & Glyn. An operating loss before tax of £4,063 million and an attributable loss of £4,441 million were reported in Q4 2016.

Across our Personal & Business Banking (PBB), Commercial & Private Banking (CPB) and NatWest Markets (NWM) franchises, RBS reported a £163 million, or 4%, increase in adjusted operating profits to £4,249 million for 2016, and an adjusted return on equity of 11.1%, compared with 11.2% in 2015. Q4 2016 adjusted operating profit of £848 million was £320 million, or 61%, higher than Q4 2015.


Ross McEwan, RBS CEO said today:

“The bottom line loss we have reported today is, of course, disappointing but given the scale of the legacy issues we worked through in 2016, it should not come as a surprise.

These costs are a stark reminder of what happens to a bank when things go wrong and you lose focus on the customer, as this bank did before the financial crisis.

We made good progress throughout 2016 against our strategy. Our core business generated £4.2bn in adjusted pre-tax operating profit for the year – that’s an average of £1 billion per quarter for the last eight quarters.

We were the fastest growing large bank in the UK last year, with £24bn of new lending into the UK economy supporting over a million businesses and home owners.

This bank has great potential. We believe that by going further on cost reduction and faster on digital transformation we will deliver a simpler, safer and even more customer-focused bank.”


(1) Attributable to ordinary shareholders.

Download Results factbook [781KB PDF]


Conference call replays


Replays can be accessed two hours post event. Replay facilities will be available until Friday 24 March 2017. To access a replay dial-in from the following telephone numbers and use the appropriate access code from the list below:

International dial: +44 (0) 1452 550 000
UK free call dial: 0800 953 1533
Ireland local call dial: 01 431 9815

Wires Audio replay access number: 56917632
Analyst Conference Audio replay access number: 62910737
Press Conference Audio replay access number: 57338772




Annual Results 2016 Wires call transcript

Annual Results 2016 Press Conference transcript

(1) Attributable to ordinary shareholders.
(1) Attributable to ordinary shareholders.

Posted In

Our news

Latest news

Women and millennials help drive £17bn+ franchise sector to record levels

New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.

Winners announced for Skills & Opportunities Fund

52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.

RBS Multicultural Network meets Eric Holder, 82nd US Attorney General

Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.

Set Tab for lightbox