RBS H2 2012 Results

LONDON, August 3, 2012 /PRNewswire/ --

The Royal Bank of Scotland's CEO Stephen Hester says he wants to make RBS become a model of the way banks relate to society and that he is effecting a cultural change within the bank. He acknowledges that the banking industry had "come down to earth with a bump" from the boom times and that it had become detached from society.

Commenting on the intense pressure the industry is coming under, he emphasised that the overwhelming majority of staff who worked in the bank were honest, decent and hardworking people who put customers first - a theme he suggests others in the industry should follow.

Speaking on today's H1 results,  FD Bruce van Saun said the bank had had a "solid quarter" and that it had increased  Core Tier 1 capital 10.6% to 11.1% going into the year, and that setting Ireland aside the Core business had delivered a 13%-14% ROE.  At the same time the Non-Core business had significantly reduced its asset base by a further £22bn and that he expected further progress on this front over the next six months.

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SOURCE The Royal Bank of Scotland Group