The RBS International 2021 annual results show a significant increase in their operating profits.
RBS International has generated an operating profit of £358m in 2021. This is a significant increase on 2020 when the financial impact of the pandemic was at its peak and the bank set aside money to support customers and prepare for potential bad debts.
- RBS International income increased by 10% in 2021 to £548m as the result of an increase in demand for banking and depository services from our customers.
- The bank saw its highest ever savings and lending volumes in 2021. Deposits grew £6.2bn to £37.5bn whilst customer lending advanced £2.2bn to £15.5bn in total.
- NatWest Group was lead financial sponsor of COP 26 and RBS International experienced significant growth in lending and depository business associated with sustainable finance. £1.5bn of RBS International lending in 2021 was in climate and sustainable funding and financing solutions as the bank continues to support NatWest Group’s commitments to tackling climate change.
- The bank invested to bring forward new features and services in its market-leading personal banking app and its multi-currency banking platform EQ. In 2021 we also completed the implementation of a new loans platform.
Andrew McLaughlin, outgoing CEO, RBS International said: “Our profitability in 2021 reflects an upturn in activity as customers came to terms with the pandemic in their business and personal lives. Our institutional customers returned to the market with renewed appetite for growth.
“It was encouraging to see our bankers find many new opportunities to support climate transition. Smaller businesses, by contrast, are proceeding cautiously and working with their banker to reduce the risks from rising interest rates, supply chain disruption and cost inflation. The world economy is changing in ways our customers find unsettling. Our sole focus is providing the risk management services customers need to help them thrive.“