IBOS member Royal Bank of Scotland (RBS) has announced its financial results for H1 2017, in a report released on 4 August 2017.
RBS reported an operating profit before tax of £1,951 million for H1 2017 and an attributable profit of £939 million. In Q2 2017, an operating profit before tax of £1,238 million and an attributable profit of £680 million were reported.
Across the bank’s Personal & Business Banking (PBB), Commercial & Private Banking (CPB) and NatWest Markets (NWM) businesses, RBS reported an adjusted operating profit of £2,678 million, an increase of £608 million, or 29%, compared with H1 2016. Adjusted return on equity across PBB, CPB and NatWest Markets was 14.1%, compared with 10.9% in H1 2016.
Ross McEwan, CEO of RBS, commented:
“Our progress in the first half of the year means that today we can spend less time talking about the bank we were and more about the bank we are becoming.
We have continued, at pace, to build a simpler, safer and even more customer-focused bank that has now delivered two consecutive quarters of bottom line profit – totalling £939 million.”
Access the full report via RBS, here.