Reports

Profit Improves At Wealth Arm Of RBS

Tom Burroughes, Group Editor, London, 28 February 2013

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The wealth management arm of UK-listed Royal Bank of Scotland, which includes its flagship Coutts brand, reported an operating profit, before impairments, of £299 million ($453 million) last year, up from £273 million a year before.

The wealth management arm of UK-listed Royal Bank of Scotland, which
includes its flagship Coutts brand, reported an operating profit, before
impairments, of £299 million ($453 million) last year, up from £273 million a
year before.

This part of RBS also reported impairment losses of £46
million, up from £25 million; total income over 2012 was £1.17 billion, up from
£1.104 billion. The net interest margin was 3.73 per cent, up from 3.23 per
cent, the banking group, whose parent is part-owned by the UK government
in the wake of the 2008 financial crisis, said.

As far as the parent banking group was concerned, meanwhile,
it reported a loss attributable to ordinary and B shareholders of £5.971
billion, widening from a loss of £1.997 billion in 2011.

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