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Annual Results 2016

RBS released Annual Results on Friday 24th February followed by a management presentation and conference call for fixed income investors

Management Presentation
Call for fixed income investors
Management Presentation
Call for fixed income investors

CEO Video

CEO Ross McEwan discusses our performance and progress

Highlights

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.

In 2016 RBS delivered against all of its operating financial targets; PBB and CPB had combined income growth of 2%, adjusting for transfers, underpinned by 10% net lending growth, expenses have been reduced by around £1 billion for the third year in succession as the bank continues to focus on digital channels and on simplification of its processes, and Capital Resolution RWAs have reduced by a further £14.5 billion, or 30%, to £34.5 billion, with 80% of RWAs now relating to PBB, CPB and NatWest Markets compared with 72% at the end of 2015. RBS is committed to achieving its sub 50% cost:income ratio and 12% return on tangible equity targets by 2020.

Common Equity Tier 1 ratio of 13.4% reduced by 210 basis points during 2016, but remains ahead of our target despite recognising significant charges relating to remaining legacy issues.


Notes:

(1) Attributable to ordinary shareholders.

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Item Year Date Title Announcements Excel Slides Webcast Transcript
data-ip3- 2017 28 Feb CFO Round Tables
data-ip3- 2017 26 Jan Provision for US RMBS investigations
data-ip3- 2016 24 Feb Annual Results 2016
data-ip3- 2016 02 Dec EBA 2016 EU-Wide Transparency Exercise
data-ip3- 2016 28 Oct Q3 Results 2016
data-ip3- 2016 05 Aug H1 Results 2016
data-ip3- 2016 29 Apr Q1 Results 2016
data-ip3- 2016 29 Apr 2015 GSII Indicators
data-ip3- 2016 04 Feb Restatements
data-ip3- 2016 27 Jan Announcement
data-ip3- 2015 26 Feb Annual Results 2015
data-ip3- 2015 30 Oct Q3 Results 2015
data-ip3- 2015 24 Nov EBA 2015 EU-Wide Transparency Exercise
data-ip3- 2015 30 Jul H1 Results 2015
data-ip3- 2015 30 Apr Q1 Results 2015
data-ip3- 2014 31 Dec GSII Indicators Disclosure
data-ip3- 2014 26 Feb Annual Results 2014
data-ip3- 2014 31 Oct Q3 Results 2014
data-ip3- 2014 01 Aug Interim Results 2014
data-ip3- 2014 25 Jul Q2 Preliminary Results Announcement
data-ip3- 2014 21 Jul Divisional reorganisation
data-ip3- 2014 02 May Q1 Results 2014
data-ip3- 2013 31 Jul G-SIB Indicators Disclosure
data-ip3- 2013 27 Feb Annual Results 2013
data-ip3- 2013 01 Nov Q3 Results 2013
data-ip3- 2013 02 Aug Interim Results 2013
data-ip3- 2013 03 May Q1 Interim Management Statement 2013
data-ip3- 2012 28 Feb Annual Results 2012
data-ip3- 2012 02 Nov Q3 Interim Management Statement
data-ip3- 2012 03 Aug Interim Results 2012
data-ip3- 2012 04 May Q1 Interim Management Statement 2012
data-ip3- 2012 01 May Divisional Restatements
data-ip3- 2011 23 Feb Annual Results 2011
data-ip3- 2011 04 Nov Q3 Interim Management Statement
data-ip3- 2011 05 Aug Interim Results 2011
data-ip3- 2011 06 May Q1 Interim Management Statement
data-ip3- 2010 24 Feb Annual Results 2010
data-ip3- 2010 05 Nov Q3 Interim Management Statement
data-ip3- 2010 06 Aug Q2 2010 Results
data-ip3- 2010 07 May Q1 Interim Management Statement
data-ip3- 2009 25 Feb 2009 Annual Results
data-ip3- 2009 06 Nov Interim Management Statement Q309
data-ip3- 2009 07 Aug 2009 Interim Results Presentation
data-ip3- 2009 08 May Interim Management Statement Q109
data-ip3- 2009 19 Jan Trading Update
data-ip3- 2008 26 Feb Annual results for the year ended 31 December 2008
data-ip3- 2008 26 Feb The Royal Bank of Scotland Group – Full Year Results 2008 – Appendix 1
data-ip3- 2008 26 Feb The Royal Bank of Scotland Group – Full Year Results 2008 – Appendix 2
data-ip3- 2008 04 Nov Placing and Open Offer Presentation
data-ip3- 2008 07 Aug 2008 Interim Results Presentation
data-ip3- 2008 11 Jun Pre-Close Trading Update June 2008
data-ip3- 2008 22 Apr Update on Credit Market Exposures, Disposals, Capital, Trading Conditions and Outlook
data-ip3- 2008 22 Apr Rights Issue Presentation
data-ip3- 2008 22 Apr Rights Issue US Investor Call
data-ip3- 2007 27 Feb Annual results for the year ended 31 December 2007
data-ip3- 2007 06 Dec Pre-close Trading Update
data-ip3- 2007 02 Aug 2007 Interim Results Presentation
data-ip3- 2007 05 Jun Trading Statement Call
data-ip3- 2006 28 Feb Annual results for the year ended 31 December 2006
data-ip3- 2006 06 Dec Pre-close Trading Update
data-ip3- 2006 03 Aug Interim Results for the half year ended June 30 2006
data-ip3- 2006 13 Jun Pre-Close Trading Update
data-ip3- 2005 27 Feb Annual results for the year ended 31 December 2005
data-ip3- 2005 08 Dec Pre-Close trading update
data-ip3- 2005 03 Aug Interim Results 2005 – 30 Jun 2005
data-ip3- 2005 08 Jun Trading Update and IFRS Transition Report
data-ip3- 2004 23 Feb Annual results for the year ended 31 December 2004
data-ip3- 2004 05 Dec Pre-close trading update
data-ip3- 2004 02 Aug Interim Results 2004 – 30 Jun 2004
data-ip3- 2004 09 Jun Pre-close trading update
data-ip3- 2003 18 Feb Annual Results 2003 – 31 Dec 2003
data-ip3- 2003 08 Dec Pre-close trading update
data-ip3- 2003 05 Aug Interim Results 2003 – 30 Jun 2003
data-ip3- 2003 11 Jun Pre-close trading update
data-ip3- 2002 27 Feb Annual results for the year ended 31 December 2002