Q1 Interim Management Statement 2013 - summary

Key highlights

• RBS reports a Q1 2013 pre-tax profit of £826 million
• Group operating profit(1) of £829 million, up from £553 million in Q4 2012
• Q1 2013 net attributable profit of £393 million
• Core Tier 1 ratio increases 50 basis points to 10.8%, or 8.2% on a fully loaded Basel III basis
• Tangible net asset value up 3% to 459p per share

See our infographic (PDF 84KB) for an at-a-glance summary of the Q1 results.

For the full Interim Management Statement, see our Results centre.

Video: RBS Chairman, Sir Philip Hampton talks through RBS's Q1 Results

"These results show pleasing progress in delivering a strong and valuable RBS for all our stakeholders. We expect to substantially complete the Bank’s restructuring phase during 2014. We are seeing the start of a pick-up in loan demand and have a strong surplus of funds ready and available to fully support economic recovery. Across the Group we are working hard to improve what we do for customers and to better position the Bank for future growth."

Stephen Hester, Group Chief Executive

Conference call transcripts and replays

Wires transcript (PDF 68KB)

Media transcript (PDF 77KB)

Replays are available until Friday 17th May 2013.

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Use the relevant access code:

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Media Conference replay access number: 40516079

Notes: 

(1) Operating profit before tax, own credit adjustments, Payment Protection Insurance costs, Interest Rate Hedging Products redress and related costs, regulatory fines, integration and restructuring costs, loss on redemption of own debt, write-down of goodwill and other intangible assets, Asset Protection Scheme, amortisation of purchased intangible assets, strategic disposals, bank levy and RFS Holdings minority interest and includes the results of Direct Line Group on a managed basis, which are included in the discontinued operations in the statutory results until 12 March 2013 and as an associated undertaking thereafter (‘operating profit’). Statutory operating profit before tax was £826 million for the quarter ended 31 March 2013.