RBS reported an operating profit before tax of £4,232 million and an attributable profit of £3,133 million and proposes a final ordinary dividend of 3 pence and a 5 pence special dividend.
In a challenging market RBS has exceeded all of its 2019 financial targets: cost reduction above target; net lending growth ahead of target; RWAs below guidance; and 22 pence of total distributions to shareholders in 2019, while maintaining a CET1 ratio of 16.2%.
CEO Alison Rose said:
“Today marks the start of a new era for our bank as we announce our new purpose - to champion potential, helping people, families and businesses to thrive.
“These results are a reminder of the strong foundations we have built. Our profits are up, our capital remains strong and this year we will have returned a further £2.7bn to our shareholders.
“But our performance doesn’t yet match the potential that exists in this bank. We can deliver so much more.
“The way people live their lives has changed. And their expectations of companies are changing too; looking for us to deliver not only financial performance but a positive contribution to society; benefitting customers and communities as well as shareholders. The future of this bank depends on us successfully delivering on both.
“I am hugely excited about the opportunities that lie ahead of us.”
Conference call replays
Replays can be accessed two hours post event. Replay facilities will be available until Sunday 1 March 2020. 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) 333 300 9785
UK free call dial: 0808 238 0667
Media Audio conference ID: 3878846
2019 Annual Results Media call transcript [PDF 227KB]