In 2019 RBS International generated a pre-tax operating profit of £344m from £610m of income, it has announced ed, following publication of its Annual Results for 2019.
Customer Lending grew significantly in 2019. RBS International now lends over £14bn to customers, £800m more than at this time last year with growth in both Institutional and Local Banking.
RBS International saw total operating expenses increase by £4m in 2019 to £264m, with the rise due in part to a local investment programme.
Andrew McLaughlin, CEO, RBS International said:
“Our results for 2019 reflect our strategic intent to innovate to meet customer needs.
“This has resulted in high volumes of customer activity, which has in turn enabled RBSI to deliver year on year growth in our income and operating profit.
“Our lending has increased by over £800m vs 2018 with high growth in Institutional and Local Banking. RBSI is a deposit-led business and this increase in lending has been funded by a £1.1bn increase in term and notice deposits compared with 2018.
“It’s great to see that more customers trust us as their provider and I look forward to seeing this grow in 2020.”