RBS International has announced increasing annual profits for 2018.
- RBS International returned a pre-tax operating profit of £336m in 2018. The bank has now reported 22 years of consecutive profit.
- In 2018 its income increased by 53% vs. 2017. This is largely due to opening two new offices in Luxembourg and London to support the Funds sector and bringing NatWest Trustee and Depositary Services into RBS International Holdings Limited.
- In 2018 the bank helped over one thousand customers buy their home.
- RBS Internationalincreased its total operating costs by 19% to £260m to support its larger and more independent business structure.
Andrew McLaughlin, CEO, RBS International said:
“Our 2018 financial results reflect four years of hard work to build a strong and sustainable bank. We’ve invested heavily in our service proposition and we’ve grown our funds business through investment in the UK and Europe. We’re excited to be going into 2019 as a stand-alone bank outside of the ring-fence. We still have a long way to go but our new three year strategy will help us achieve our ambition to be the easiest bank to deal with for our customers.”