|
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Interest receivable
|
4,782
|
5,190
|
|
Interest payable
|
(866)
|
(1,338)
|
|
|
|
|
|
Net interest income
|
3,916
|
3,852
|
|
|
|
|
|
Fees and commissions receivable
|
1,312
|
1,430
|
|
Fees and commissions payable
|
(285)
|
(392)
|
|
Income from trading activities
|
231
|
802
|
|
Other operating income
|
145
|
146
|
|
|
|
|
|
Non-interest income
|
1,403
|
1,986
|
|
|
|
|
|
Total income
|
5,319
|
5,838
|
|
|
|
|
|
Staff costs
|
(1,902)
|
(1,955)
|
|
Premises and equipment
|
(502)
|
(651)
|
|
Other administrative expenses
|
(703)
|
(696)
|
|
Depreciation and amortisation
|
(414)
|
(448)
|
|
|
|
|
|
Operating expenses
|
(3,521)
|
(3,750)
|
|
|
|
|
|
Profit before impairment releases/(losses)
|
1,798
|
2,088
|
|
Impairment releases/(losses)
|
707
|
(2,858)
|
|
|
|
|
|
Operating profit/(loss) before tax
|
2,505
|
(770)
|
|
Tax (charge)/credit
|
(435)
|
208
|
|
|
|
|
|
Profit/(loss) for the period
|
2,070
|
(562)
|
|
|
|
|
|
Attributable to:
|
|
|
|
Ordinary shareholders
|
1,842
|
(705)
|
|
Preference shareholders
|
9
|
16
|
|
Paid-in equity holders
|
178
|
192
|
|
Non-controlling interests
|
41
|
(65)
|
|
|
2,070
|
(562)
|
|
|
|
|
|
Earnings per ordinary share
|
15.6p
|
(5.8p)
|
|
Earnings per ordinary share - fully diluted
|
15.5p
|
(5.8p)
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Profit/(loss) for the period
|
2,070
|
(562)
|
|
|
|
|
|
Items that do not qualify for reclassification
|
|
|
|
Remeasurement of retirement benefit
schemes (1)
|
(734)
|
68
|
|
(Loss)/profit on fair value of credit in financial
liabilities
|
|
|
|
designated at FVTPL
due to own credit risk
|
(25)
|
83
|
|
FVOCI financial assets
|
8
|
(120)
|
|
Tax
|
182
|
-
|
|
|
(569)
|
31
|
|
Items that do qualify for reclassification
|
|
|
|
FVOCI financial assets
|
(145)
|
(111)
|
|
Cash flow hedges
|
(365)
|
417
|
|
Currency translation
|
(288)
|
575
|
|
Tax
|
65
|
(179)
|
|
|
(733)
|
702
|
|
|
|
|
|
Other comprehensive (loss)/income after tax
|
(1,302)
|
733
|
|
|
|
|
|
Total comprehensive income for the period
|
768
|
171
|
|
|
|
|
|
Attributable to:
|
|
|
|
Ordinary shareholders
|
535
|
14
|
|
Preference shareholders
|
9
|
16
|
|
Paid-in equity holders
|
178
|
192
|
|
Non-controlling interests
|
46
|
(51)
|
|
|
768
|
171
|
|
|
30 June 2021
|
31 December 2020
|
|
|
||
|
|
£m
|
£m
|
|
Assets
|
|
|
|
Cash and balances at central banks
|
151,511
|
124,489
|
|
Trading assets
|
70,195
|
68,990
|
|
Derivatives
|
109,556
|
166,523
|
|
Settlement balances
|
7,793
|
2,297
|
|
Loans to banks - amortised cost
|
8,176
|
6,955
|
|
Loans to customers - amortised cost
|
362,711
|
360,544
|
|
Other financial assets
|
51,469
|
55,148
|
|
Intangible assets
|
6,694
|
6,655
|
|
Other assets
|
7,753
|
7,890
|
|
|
|
|
|
Total assets
|
775,858
|
799,491
|
|
|
|
|
|
Liabilities
|
|
|
|
Bank deposits
|
14,394
|
20,606
|
|
Customer deposits
|
467,214
|
431,739
|
|
Settlement balances
|
7,119
|
5,545
|
|
Trading liabilities
|
75,847
|
72,256
|
|
Derivatives
|
103,992
|
160,705
|
|
Other financial liabilities
|
46,118
|
45,811
|
|
Subordinated liabilities
|
8,696
|
9,962
|
|
Notes in circulation
|
2,906
|
2,655
|
|
Other liabilities
|
5,687
|
6,388
|
|
Total liabilities
|
731,973
|
755,667
|
|
|
|
|
|
Equity
|
|
|
|
Ordinary shareholders' interests
|
37,445
|
38,367
|
|
Other owners' interests
|
6,430
|
5,493
|
|
Owners’ equity
|
43,875
|
43,860
|
|
Non-controlling interests
|
10
|
(36)
|
|
|
|
|
|
Total equity
|
43,885
|
43,824
|
|
Total liabilities and equity
|
775,858
|
799,491
|
|
|
|
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Called-up share capital - at beginning of period
|
12,129
|
12,094
|
|
Ordinary shares issued
|
38
|
31
|
|
Share cancellation (1)
|
(391)
|
-
|
|
At end of period
|
11,776
|
12,125
|
|
|
|
|
|
Paid-in equity - at beginning of period
|
4,999
|
4,058
|
|
Redeemed/reclassified (2)
|
-
|
(1,277)
|
|
Securities issued during the period (3)
|
937
|
1,220
|
|
At end of period
|
5,936
|
4,001
|
|
|
|
|
|
Share premium account - at beginning of period
|
1,111
|
1,094
|
|
Ordinary shares issued
|
50
|
16
|
|
At end of period
|
1,161
|
1,110
|
|
|
|
|
|
Merger reserve - at beginning and end of period
|
10,881
|
10,881
|
|
|
|
|
|
FVOCI reserve -
at beginning of period
|
360
|
138
|
|
Unrealised losses
|
(113)
|
(123)
|
|
Realised gains
|
(23)
|
(107)
|
|
Tax
|
15
|
12
|
|
At end of period
|
239
|
(80)
|
|
|
|
|
|
Cash flow hedging reserve - at beginning of period
|
229
|
35
|
|
Amount recognised in equity
|
(323)
|
445
|
|
Amount transferred from equity to earnings
|
(42)
|
(28)
|
|
Tax
|
59
|
(111)
|
|
At end of period
|
(77)
|
341
|
|
|
|
|
|
Foreign exchange reserve - at beginning of period
|
1,608
|
1,343
|
|
Retranslation of net assets
|
(336)
|
527
|
|
Foreign currency gains/(losses) on hedges of net
assets
|
43
|
(63)
|
|
Tax
|
(11)
|
(95)
|
|
Recycled to profit or loss on disposal of
businesses (4)
|
-
|
97
|
|
At end of period
|
1,304
|
1,809
|
|
|
|
|
|
Capital redemption reserve - at beginning of period
|
-
|
-
|
|
Share cancellation (1)
|
390
|
-
|
|
Redemption of preference shares
|
24
|
-
|
|
At end of period
|
414
|
-
|
|
|
|
|
|
Retained earnings - at beginning of period
|
12,567
|
13,946
|
|
Profit/(loss) attributable to ordinary shareholders and other
equity owners
|
2,029
|
(497)
|
|
Equity preference dividends paid
|
(9)
|
(16)
|
|
Paid-in equity dividends paid
|
(178)
|
(192)
|
|
Ordinary dividends paid
|
(347)
|
-
|
|
Shares repurchased during the year (1)
|
(748)
|
-
|
|
Redemption of preference shares
|
(24)
|
-
|
|
Redemption/reclassification of paid-in equity (2)
|
-
|
(355)
|
|
Realised losses in period on FVOCI equity shares
|
(1)
|
(1)
|
|
Remeasurement of the retirement benefit
schemes (5)
|
|
|
|
- gross
|
(734)
|
68
|
|
- tax
|
182
|
23
|
|
Changes in fair value of credit in financial liabilities designated
at fair value through profit or loss
|
|
|
|
-
gross
|
(25)
|
83
|
|
-
tax
|
2
|
(8)
|
|
Shares issued under employee share schemes
|
-
|
(11)
|
|
Share-based payments
|
(82)
|
(100)
|
|
At end of period
|
12,632
|
12,940
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Own shares held - at beginning of period
|
(24)
|
(42)
|
|
Shares issued under employee share schemes
|
17
|
95
|
|
Own shares acquired (1)
|
(384)
|
(77)
|
|
At end of period
|
(391)
|
(24)
|
|
Owners' equity at end of period
|
43,875
|
43,103
|
|
|
|
|
|
Non-controlling interests - at beginning of period
|
(36)
|
9
|
|
Currency translation adjustments and other movements
|
5
|
14
|
|
Profit/(loss) attributable to non-controlling
interests
|
41
|
(65)
|
|
At end of period
|
10
|
(42)
|
|
|
|
|
|
Total equity at end of period
|
43,885
|
43,061
|
|
|
|
|
|
Attributable to:
|
|
|
|
Ordinary shareholders
|
37,445
|
38,608
|
|
Preference shareholders
|
494
|
494
|
|
Paid-in equity holders
|
5,936
|
4,001
|
|
Non-controlling interests
|
10
|
(42)
|
|
|
43,885
|
43,061
|
|
|
|
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|||
|
|
£m
|
£m
|
|
Operating activities
|
|
|
|
Operating profit/(loss) before tax
|
2,505
|
(770)
|
|
Adjustments for non-cash items
|
2,635
|
1,271
|
|
|
|
|
|
Net cash flows from trading activities
|
5,140
|
501
|
|
Changes in operating assets and liabilities
|
25,745
|
14,281
|
|
|
|
|
|
Net cash flows from operating activities before tax
|
30,885
|
14,782
|
|
Income taxes paid
|
(259)
|
(231)
|
|
|
|
|
|
Net cash flows from operating activities
|
30,626
|
14,551
|
|
Net cash flows from investing activities
|
(790)
|
2,035
|
|
Net cash flows from financing activities
|
(359)
|
2,748
|
|
Effects of exchange rate changes on cash and cash
equivalents
|
(1,935)
|
2,752
|
|
|
|
|
|
Net increase in cash and cash equivalents
|
27,542
|
22,086
|
|
Cash and cash equivalents at beginning of period
|
139,199
|
100,588
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
166,741
|
122,674
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Loans to customers - amortised cost
|
4,433
|
4,698
|
|
Loans to banks - amortised cost
|
217
|
189
|
|
Other financial assets
|
132
|
303
|
|
Interest receivable
|
4,782
|
5,190
|
|
|
|
|
|
Deposits by banks
|
99
|
89
|
|
Customer deposits
|
319
|
432
|
|
Other financial liabilities
|
314
|
481
|
|
Subordinated liabilities
|
130
|
218
|
|
Internal funding of trading businesses
|
4
|
118
|
|
Interest payable
|
866
|
1,338
|
|
Net interest income
|
3,916
|
3,852
|
|
Net fees and commissions
|
1,027
|
1,038
|
|
|
|
|
|
Foreign exchange
|
183
|
344
|
|
Interest rate
|
(6)
|
472
|
|
Credit
|
54
|
(68)
|
|
Own credit adjustment
|
-
|
53
|
|
Equity, commodities and other
|
-
|
1
|
|
Income from trading activities
|
231
|
802
|
|
|
|
|
|
Loss on redemption of own debt (1)
|
(138)
|
-
|
|
Operating lease and other rental income
|
108
|
119
|
|
Changes in fair value of financial assets or liabilities designated
at fair value through profit or loss (2)
|
(4)
|
(21)
|
|
Changes in fair value of other financial assets at fair value
through profit or loss
|
-
|
(10)
|
|
Hedge ineffectiveness
|
13
|
(10)
|
|
Loss on disposal of amortised assets
|
(6)
|
(16)
|
|
Profit on disposal of fair value through other comprehensive income
assets
|
24
|
108
|
|
Profit on sale of property, plant and equipment
|
6
|
11
|
|
Share of profit of associated entities
|
129
|
12
|
|
Profit/(loss) on disposal of subsidiaries and
associates
|
1
|
(99)
|
|
Other income (3)
|
12
|
52
|
|
Other operating income
|
145
|
146
|
|
Total non-interest income
|
1,403
|
1,986
|
|
Total income
|
5,319
|
5,838
|
|
|
|
|
|
Salaries
|
1,192
|
1,290
|
|
Bonus awards
|
142
|
179
|
|
Temporary and contract costs
|
114
|
148
|
|
Social security costs
|
152
|
153
|
|
Pension costs
|
177
|
164
|
|
- defined
benefit schemes
|
110
|
101
|
|
- defined
contribution schemes
|
67
|
63
|
|
Other
|
125
|
21
|
|
Staff costs
|
1,902
|
1,955
|
|
Premises and equipment (4)
|
502
|
651
|
|
Depreciation and amortisation (5)
|
414
|
448
|
|
Other administrative expenses (6)
|
703
|
696
|
|
Administrative expenses
|
1,619
|
1,795
|
|
|
|
|
|
Operating expenses
|
3,521
|
3,750
|
|
|
|
|
|
Impairment releases/(losses)
|
707
|
(2,858)
|
|
Impairments as a % of gross loans to customers
|
0.38%
|
1.59%
|
|
|
|
|
International Banking & Markets
|
Ulster
|
Central
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Bank
|
items &
|
|
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
RoI
|
other (1)
|
Total
|
Half year ended 30 June 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Net interest income
|
1,976
|
232
|
1,308
|
182
|
(3)
|
187
|
34
|
3,916
|
Net fees and commissions
|
173
|
124
|
560
|
59
|
83
|
38
|
(10)
|
1,027
|
Other non-interest income
|
1
|
12
|
55
|
15
|
215
|
18
|
60
|
376
|
Total income
|
2,150
|
368
|
1,923
|
256
|
295
|
243
|
84
|
5,319
|
Operating expenses
|
(1,187)
|
(249)
|
(1,152)
|
(112)
|
(560)
|
(261)
|
-
|
(3,521)
|
Impairment releases/(losses)
|
57
|
27
|
568
|
29
|
16
|
11
|
(1)
|
707
|
Operating profit/(loss)
|
1,020
|
146
|
1,339
|
173
|
(249)
|
(7)
|
83
|
2,505
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2020
|
|
|
|
|
|
|
|
|
Net interest income
|
1,982
|
251
|
1,370
|
201
|
(34)
|
194
|
(112)
|
3,852
|
Net fees and commissions
|
204
|
130
|
552
|
43
|
76
|
44
|
(11)
|
1,038
|
Other non-interest income
|
(1)
|
11
|
81
|
15
|
774
|
11
|
57
|
948
|
Total income
|
2,185
|
392
|
2,003
|
259
|
816
|
249
|
(66)
|
5,838
|
Operating expenses
|
(1,075)
|
(252)
|
(1,221)
|
(126)
|
(707)
|
(245)
|
(124)
|
(3,750)
|
Impairment losses
|
(657)
|
(56)
|
(1,790)
|
(46)
|
(40)
|
(243)
|
(26)
|
(2,858)
|
Operating profit/(loss)
|
453
|
84
|
(1,008)
|
87
|
69
|
(239)
|
(216)
|
(770)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
International Banking & Markets
|
Ulster
|
Central
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Bank
|
items &
|
|
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
RoI
|
Other
|
Total
|
Half year ended 30 June 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
External
|
2,667
|
358
|
1,861
|
278
|
523
|
275
|
508
|
6,470
|
Inter-segmental
|
14
|
60
|
43
|
3
|
17
|
-
|
(137)
|
-
|
Total
|
2,681
|
418
|
1,904
|
281
|
540
|
275
|
371
|
6,470
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2020
|
|
|
|
|
|
|
|
|
External
|
2,764
|
358
|
2,009
|
269
|
1,328
|
277
|
563
|
7,568
|
Inter-segmental
|
24
|
99
|
47
|
3
|
4
|
-
|
(177)
|
-
|
Total
|
2,788
|
457
|
2,056
|
272
|
1,332
|
277
|
386
|
7,568
|
(1)
|
Total
revenue comprises interest receivable, fees and commissions
receivable, income from trading activities and other operating
income.
|
|
|
|
|
International Banking & Markets
|
Ulster
|
Central
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Bank
|
items &
|
|
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
RoI
|
other
|
Total
|
Half year ended 30 June 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Fees and commissions receivable
|
|
|
|
|
|
|
|
|
- Payment
services
|
145
|
16
|
255
|
6
|
10
|
28
|
-
|
460
|
- Credit and debit
card fees
|
149
|
4
|
69
|
1
|
-
|
8
|
-
|
231
|
- Lending and
financing
|
6
|
4
|
242
|
28
|
34
|
7
|
-
|
321
|
- Investment
management,
|
|
|
|
|
|
|
|
|
trustee and fiduciary
services
|
1
|
113
|
-
|
22
|
-
|
1
|
-
|
137
|
- Underwriting
fees
|
-
|
-
|
-
|
-
|
77
|
-
|
-
|
77
|
-
Other
|
32
|
19
|
63
|
3
|
25
|
-
|
(56)
|
86
|
Total
|
333
|
156
|
629
|
60
|
146
|
44
|
(56)
|
1,312
|
|
|
|
|
|
|
|
|
|
Fees and commissions payable
|
(160)
|
(32)
|
(69)
|
(1)
|
(63)
|
(6)
|
46
|
(285)
|
Net fees and commissions
|
173
|
124
|
560
|
59
|
83
|
38
|
(10)
|
1,027
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2020
|
|
|
|
|
|
|
|
|
Fees and commissions receivable
|
|
|
|
|
|
|
|
|
- Payment
services
|
129
|
14
|
256
|
9
|
9
|
28
|
-
|
445
|
- Credit and debit
card fees
|
144
|
4
|
60
|
1
|
-
|
10
|
-
|
219
|
- Lending and
financing
|
37
|
2
|
241
|
15
|
46
|
7
|
-
|
348
|
- Investment
management,
|
|
|
|
|
|
|
|
|
trustee and fiduciary services
|
1
|
113
|
-
|
17
|
-
|
1
|
-
|
132
|
- Underwriting
fees
|
-
|
-
|
-
|
-
|
124
|
-
|
-
|
124
|
-
Other
|
34
|
18
|
48
|
2
|
98
|
2
|
(40)
|
162
|
Total
|
345
|
151
|
605
|
44
|
277
|
48
|
(40)
|
1,430
|
|
|
|
|
|
|
|
|
|
Fees and commissions payable
|
(141)
|
(21)
|
(53)
|
(1)
|
(201)
|
(4)
|
29
|
(392)
|
Net fees and commissions
|
204
|
130
|
552
|
43
|
76
|
44
|
(11)
|
1,038
|
|
|
|
|
International Banking & Markets
|
|
|
Ulster
|
Central
|
|
||
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Bank
|
items &
|
|
||||
Banking
|
Banking
|
Banking
|
International
|
Markets
|
RoI
|
other
|
Total
|
||||
30 June 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|||
Assets
|
204,167
|
27,686
|
185,757
|
36,953
|
219,447
|
25,422
|
76,426
|
775,858
|
|||
Liabilities
|
187,851
|
34,808
|
183,837
|
34,843
|
206,160
|
21,872
|
62,602
|
731,973
|
|||
|
|
|
|
|
|
|
|
|
|||
31 December 2020
|
|
|
|
|
|
|
|
|
|||
Assets
|
197,618
|
26,206
|
187,413
|
33,984
|
270,147
|
26,620
|
57,503
|
799,491
|
|||
Liabilities
|
178,617
|
32,457
|
174,251
|
31,989
|
254,098
|
22,993
|
61,262
|
755,667
|
|
|
Half year ended
|
|
|
|
30 June 2021
|
30 June 2020
|
|
|
||
|
|
£m
|
£m
|
|
Profit/(loss) before tax
|
2,505
|
(770)
|
|
|
|
|
|
Expected tax (charge)/credit
|
(476)
|
146
|
|
Losses and temporary differences in period where no deferred tax
assets recognised
|
(6)
|
(38)
|
|
Foreign profits taxed at other rates
|
4
|
(24)
|
|
Items not allowed for tax:
|
|
|
|
- losses on
disposals and write-downs
|
(3)
|
(14)
|
|
- UK bank
levy
|
(11)
|
(15)
|
|
- regulatory and
legal actions
|
3
|
20
|
|
- other
disallowable items
|
(10)
|
(23)
|
|
Non-taxable items
|
25
|
68
|
|
Taxable foreign exchange movements
|
-
|
(2)
|
|
Losses bought forward and utilised
|
6
|
23
|
|
Decrease in the carrying value of deferred tax assets in respect
of:
|
|
|
|
- UK
losses
|
(5)
|
(56)
|
|
- Ireland
losses
|
(35)
|
(20)
|
|
Banking surcharge
|
(173)
|
52
|
|
Tax on paid-in equity
|
32
|
38
|
|
UK tax rate change impact
|
206
|
75
|
|
Adjustments in respect of prior periods
|
8
|
(22)
|
|
|
|
|
|
Actual tax (charge)/credit
|
(435)
|
208
|
|
|
|
|
|
|
30 June 2021
|
31 December 2020
|
|
|
||
|
Assets
|
£m
|
£m
|
|
Loans
|
|
|
|
Reverse
repos
|
24,718
|
19,404
|
|
Collateral
given
|
12,955
|
18,760
|
|
Other
loans
|
1,154
|
1,611
|
|
Total loans
|
38,827
|
39,775
|
|
Securities
|
|
|
|
Central and local
government
|
|
|
|
- UK
|
5,121
|
4,184
|
|
- US
|
4,088
|
5,149
|
|
- other
|
18,347
|
16,436
|
|
Financial
institutions and corporate
|
3,812
|
3,446
|
|
Total securities
|
31,368
|
29,215
|
|
Total
|
70,195
|
68,990
|
|
|
|
|
|
Liabilities
|
|
|
|
Deposits
|
|
|
|
Repos
|
23,720
|
19,036
|
|
Collateral
received
|
17,165
|
23,229
|
|
Other
deposits
|
1,646
|
1,804
|
|
Total deposits
|
42,531
|
44,069
|
|
Debt securities in issue
|
1,205
|
1,408
|
|
Short positions
|
32,111
|
26,779
|
|
Total
|
75,847
|
72,256
|
|
|
|
Amortised
|
Other
|
|
|
MFVTPL
|
FVOCI
|
cost
|
assets
|
Total
|
Assets
|
£m
|
£m
|
£m
|
£m
|
£m
|
Cash and balances at central banks
|
|
|
151,511
|
|
151,511
|
Trading assets
|
70,195
|
|
|
|
70,195
|
Derivatives (1)
|
109,556
|
|
|
|
109,556
|
Settlement balances
|
|
|
7,793
|
|
7,793
|
Loans to banks - amortised cost (2)
|
|
|
8,176
|
|
8,176
|
Loans to customers - amortised cost (3)
|
|
|
362,711
|
|
362,711
|
Other financial assets
|
340
|
42,085
|
9,044
|
|
51,469
|
Intangible assets
|
|
|
|
6,694
|
6,694
|
Other assets
|
|
|
|
7,753
|
7,753
|
30 June 2021
|
180,091
|
42,085
|
539,235
|
14,447
|
775,858
|
|
|
|
|
|
|
Cash and balances at central banks
|
|
|
124,489
|
|
124,489
|
Trading assets
|
68,990
|
|
|
|
68,990
|
Derivatives (1)
|
166,523
|
|
|
|
166,523
|
Settlement balances
|
|
|
2,297
|
|
2,297
|
Loans to banks - amortised cost (2)
|
|
|
6,955
|
|
6,955
|
Loans to customers - amortised cost (3)
|
|
|
360,544
|
|
360,544
|
Other financial assets
|
440
|
44,902
|
9,806
|
|
55,148
|
Intangible assets
|
|
|
|
6,655
|
6,655
|
Other assets
|
|
|
|
7,890
|
7,890
|
31 December 2020
|
235,953
|
44,902
|
504,091
|
14,545
|
799,491
|
|
Held-for-
|
|
Amortised
|
Other
|
|
|
trading
|
DFV
|
cost
|
liabilities
|
Total
|
Liabilities
|
£m
|
£m
|
£m
|
£m
|
£m
|
Bank deposits (4)
|
|
|
14,394
|
|
14,394
|
Customer deposits
|
|
|
467,214
|
|
467,214
|
Settlement balances
|
|
|
7,119
|
|
7,119
|
Trading liabilities
|
75,847
|
|
|
|
75,847
|
Derivatives (1)
|
103,992
|
|
|
|
103,992
|
Other financial liabilities
|
|
1,961
|
44,157
|
|
46,118
|
Subordinated liabilities
|
|
744
|
7,952
|
|
8,696
|
Notes in circulation
|
|
|
2,906
|
|
2,906
|
Other liabilities (5)
|
|
|
1,818
|
3,869
|
5,687
|
30 June 2021
|
179,839
|
2,705
|
545,560
|
3,869
|
731,973
|
|
|
|
|
|
|
Bank deposits (4)
|
|
|
20,606
|
|
20,606
|
Customer deposits
|
|
|
431,739
|
|
431,739
|
Settlement balances
|
|
|
5,545
|
|
5,545
|
Trading liabilities
|
72,256
|
|
|
|
72,256
|
Derivatives (1)
|
160,705
|
|
|
|
160,705
|
Other financial liabilities
|
|
2,403
|
43,408
|
|
45,811
|
Subordinated liabilities
|
|
793
|
9,169
|
|
9,962
|
Notes in circulation
|
|
|
2,655
|
|
2,655
|
Other liabilities (5)
|
|
|
1,882
|
4,506
|
6,388
|
31 December 2020
|
232,961
|
3,196
|
515,004
|
4,506
|
755,667
|
(1)
|
Includes
net hedging derivatives assets of £42 million (31 December
2020 - £93 million) and net hedging derivatives liabilities of
£136 million (31 December 2020 - £130
million).
|
(2)
|
Includes
items in the course of collection from other banks of £275
million (31 December 2020 - £148 million).
|
(3)
|
Includes
finance lease receivables of £8,765 million (31 December 2020
- £9,061 million).
|
(4)
|
Includes
items in the course of transmission to other banks of £92
million (31 December 2020 - £12 million).
|
(5)
|
Includes
lease liabilities of £1,652 million (31 December 2020 -
£1,698 million).
|
|
|
|
|
|
|
30 June 2021
|
31 December 2020
|
|
|
£m
|
£m
|
|
Reverse repos
|
|
|
|
Trading assets
|
24,718
|
19,404
|
|
Loans to banks - amortised cost
|
382
|
153
|
|
Loans to customers - amortised cost
|
22,706
|
25,011
|
|
|
|
|
|
Repos
|
|
|
|
Bank deposits
|
4,261
|
6,470
|
|
Customer deposits
|
16,751
|
5,167
|
|
Trading liabilities
|
23,720
|
19,036
|
|
30 June 2021
|
|
31 December 2020
|
||||||
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Assets
|
|
|
|
|
|
|
|
|
|
Trading assets
|
|
|
|
|
|
|
|
|
|
Loans
|
-
|
38,664
|
163
|
38,827
|
|
-
|
39,550
|
225
|
39,775
|
Securities
|
22,048
|
9,205
|
115
|
31,368
|
|
21,535
|
7,599
|
81
|
29,215
|
Derivatives
|
-
|
108,622
|
934
|
109,556
|
|
-
|
165,441
|
1,082
|
166,523
|
Other financial assets
|
|
|
|
|
|
|
|
|
|
Loans
|
-
|
394
|
588
|
982
|
|
-
|
185
|
168
|
353
|
Securities
|
32,422
|
8,827
|
194
|
41,443
|
|
35,972
|
8,850
|
167
|
44,989
|
Total financial assets held at fair value
|
54,470
|
165,712
|
1,994
|
222,176
|
|
57,507
|
221,625
|
1,723
|
280,855
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Trading liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
-
|
42,528
|
3
|
42,531
|
|
-
|
44,062
|
7
|
44,069
|
Debt securities in
issue
|
-
|
1,205
|
-
|
1,205
|
|
-
|
1,408
|
-
|
1,408
|
Short
positions
|
23,659
|
8,451
|
1
|
32,111
|
|
19,045
|
7,734
|
-
|
26,779
|
Derivatives
|
-
|
103,311
|
681
|
103,992
|
|
-
|
159,818
|
887
|
160,705
|
Other financial liabilities
|
|
|
|
|
|
|
|
|
|
Debt securities in
issue
|
-
|
1,243
|
-
|
1,243
|
|
-
|
1,607
|
-
|
1,607
|
Other
deposits
|
-
|
718
|
-
|
718
|
|
-
|
796
|
-
|
796
|
Subordinated liabilities
|
-
|
744
|
-
|
744
|
|
-
|
793
|
-
|
793
|
Total financial liabilities held at fair value
|
23,659
|
158,200
|
685
|
182,544
|
|
19,045
|
216,218
|
894
|
236,157
|
(1)
|
Level 1
- Instruments valued using unadjusted quoted prices in active and
liquid markets, for identical financial instruments. Examples
include government bonds, listed equity shares and certain
exchange-traded derivatives.
Level 2
- Instruments valued using valuation techniques that have
observable inputs. Examples include most government agency
securities, investment-grade corporate bonds, certain mortgage
products, including CLOs, most bank loans, repos and reverse repos,
less liquid listed equities, state and municipal obligations, most
notes issued, and certain money market securities and loan
commitments and most OTC derivatives.
Level 3
- Instruments valued using a valuation technique where at least one
input which could have a significant effect on the
instrument’s valuation, is not based on observable market
data. Examples include cash instruments which trade infrequently,
certain syndicated and commercial mortgage loans, certain emerging
markets and derivatives with unobservable model
inputs.
|
(2)
|
Transfers
between levels are deemed to have occurred at the beginning of the
quarter in which the instrument was transferred. There were no
significant
transfers
between level 1 and level 2.
|
(3)
|
For an
analysis of debt securities held at mandatorily fair value through
profit or loss by issuer as well as ratings and derivatives, by
type and contract, refer to Risk and capital management –
Credit risk.
|
(4)
|
The
determination of an instrument’s level cannot be made at a
global product level as a single product type can be in more than
one level. For example, a
single
name corporate credit default swap could be in level 2 or level 3
depending on whether the reference counterparty’s obligations
are liquid or illiquid.
|
|
30 June 2021
|
|
31 December 2020
|
||||
|
Level 3
|
Favourable
|
Unfavourable
|
|
Level 3
|
Favourable
|
Unfavourable
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Assets
|
|
|
|
|
|
|
|
Trading assets
|
|
|
|
|
|
|
|
Loans
|
163
|
10
|
-
|
|
225
|
10
|
-
|
Securities
|
115
|
10
|
-
|
|
81
|
-
|
-
|
Derivatives
|
934
|
60
|
(70)
|
|
1,082
|
80
|
(80)
|
Other financial assets
|
|
|
|
|
|
|
|
Loans
|
588
|
30
|
(50)
|
|
168
|
20
|
(10)
|
Securities
|
194
|
30
|
(20)
|
|
167
|
30
|
(20)
|
Total financial assets held at fair value
|
1,994
|
140
|
(140)
|
|
1,723
|
140
|
(110)
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
Trading liabilities
|
|
|
|
|
|
|
|
Deposits
|
3
|
-
|
-
|
|
7
|
-
|
-
|
Short
Positions
|
1
|
-
|
-
|
|
-
|
-
|
-
|
Derivatives
|
681
|
40
|
(40)
|
|
887
|
50
|
(40)
|
Total financial liabilities held at fair value
|
685
|
40
|
(40)
|
|
894
|
50
|
(40)
|
|
Half year ended 30 June 2021
|
|
Half year ended 30 June 2020
|
||||||
|
|
Other
|
|
|
|
|
Other
|
|
|
|
Trading
|
financial
|
Total
|
Total
|
|
Trading
|
financial
|
Total
|
Total
|
|
assets (1)
|
assets (2)
|
assets
|
liabilities
|
|
assets (1)
|
assets (2)
|
assets
|
liabilities
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
At 1 January
|
1,388
|
335
|
1,723
|
894
|
|
2,233
|
321
|
2,554
|
1,317
|
Amount recorded in the income statement (3)
|
(125)
|
3
|
(122)
|
(98)
|
|
313
|
(1)
|
312
|
97
|
Amount recorded in the statement of
|
|
|
|
|
|
|
|
|
|
comprehensive
income
|
-
|
17
|
17
|
-
|
|
-
|
62
|
62
|
-
|
Level 3 transfers in
|
42
|
428
|
470
|
15
|
|
133
|
207
|
340
|
6
|
Level 3 transfers out
|
(68)
|
-
|
(68)
|
(116)
|
|
(101)
|
-
|
(101)
|
(337)
|
Purchases
|
168
|
10
|
178
|
114
|
|
366
|
10
|
376
|
100
|
Settlements
|
(36)
|
(4)
|
(40)
|
(15)
|
|
(113)
|
-
|
(113)
|
(14)
|
Sales
|
(156)
|
(4)
|
(160)
|
(107)
|
|
(933)
|
(1)
|
(934)
|
(164)
|
Foreign exchange and other adjustments
|
(1)
|
(3)
|
(4)
|
(2)
|
|
5
|
8
|
13
|
3
|
At 30 June
|
1,212
|
782
|
1,994
|
685
|
|
1,903
|
606
|
2,509
|
1,008
|
Amounts recorded in the income statement
|
|
|
|
|
|
|
|
|
|
in respect of
balances held at year end
|
|
|
|
|
|
|
|
|
|
-
unrealised
|
(125)
|
3
|
(122)
|
(98)
|
|
313
|
(1)
|
312
|
97
|
(1)
|
Trading
assets comprise assets held at fair value in trading
portfolios.
|
(2)
|
Other
financial assets comprise fair value through other comprehensive
income, designated at fair value through profit or loss and other
fair value through profit or loss. Movement in the period primarily
reflects increase in loan positions classified as HTC&S under
IFRS 9 and fair valued through other comprehensive
income.
|
(3)
|
£27
million net losses on trading assets and liabilities (30 June 2020
- £215 million net gains) were recorded in income from trading
activities. Net gains on other instruments of £3 million (30
June 2020 – nil gains) were recorded in other operating
income and interest income as appropriate.
|
|
30 June
|
|
31 December
|
|
2021
|
|
2020
|
|
£m
|
|
£m
|
Funding - FVA
|
79
|
|
140
|
Credit - CVA
|
385
|
|
390
|
Bid - Offer
|
108
|
|
148
|
Product and deal specific
|
163
|
|
172
|
|
735
|
|
850
|
Items where
|
|
|
|
|
|
|
fair value
|
|
|
|
|
|
|
|
approximates
|
Carrying
|
|
Fair value hierarchy level
|
||
|
carrying value
|
value
|
Fair value
|
Level 1
|
Level 2
|
Level 3
|
30 June 2021
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Financial assets
|
|
|
|
|
|
|
Cash and balances at central banks
|
151.5
|
|
|
|
|
|
Settlement balances
|
7.8
|
|
|
|
|
|
Loans to banks
|
0.3
|
7.9
|
7.9
|
-
|
5.0
|
2.9
|
Loans to customers
|
|
362.7
|
359.8
|
-
|
25.3
|
334.5
|
Other financial assets
|
|
|
|
|
|
|
Securities
|
|
9.0
|
9.1
|
5.4
|
0.9
|
2.8
|
Financial liabilities
|
|
|
|
|
|
|
Bank deposits
|
5.9
|
8.5
|
8.5
|
-
|
3.7
|
4.8
|
Customer deposits
|
388.1
|
79.1
|
79.1
|
-
|
20.7
|
58.4
|
Settlement balances
|
7.1
|
|
|
|
|
|
Other financial liabilities
|
|
|
|
|
|
|
Debt securities in
issue
|
|
44.2
|
45.3
|
-
|
34.9
|
10.4
|
Subordinated liabilities
|
|
8.0
|
8.5
|
-
|
8.4
|
0.1
|
Notes in circulation
|
2.9
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2020
|
|
|
|
|
|
|
Financial assets
|
|
|
|
|
|
|
Cash and balances at central banks
|
124.5
|
|
|
|
|
|
Settlement balances
|
2.3
|
|
|
|
|
|
Loans to banks
|
0.1
|
6.9
|
6.9
|
-
|
3.8
|
3.1
|
Loans to customers
|
|
360.5
|
359.2
|
-
|
25.2
|
334.0
|
Other financial assets
|
|
|
|
|
|
|
Securities
|
|
9.8
|
10.1
|
5.9
|
1.2
|
3.0
|
Financial liabilities
|
|
|
|
|
|
|
Bank deposits
|
4.4
|
16.2
|
16.2
|
-
|
11.3
|
4.9
|
Customer deposits
|
371.7
|
60.0
|
60.1
|
-
|
10.1
|
50.0
|
Settlement balances
|
5.5
|
|
|
|
|
|
Other financial liabilities
|
|
|
|
|
|
|
Debt securities in
issue
|
|
43.4
|
44.6
|
-
|
34.7
|
9.9
|
Subordinated liabilities
|
|
9.2
|
9.8
|
-
|
9.7
|
0.1
|
Notes in circulation
|
2.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
|
|
|
|
|
Customer
|
Litigation and
|
|
commitments
|
|
|
|
redress (1)
|
other regulatory
|
Property
|
and guarantees
|
Other (2)
|
Total
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
At 1 January
|
749
|
365
|
270
|
179
|
289
|
1,852
|
Expected credit losses impairment charge
|
-
|
-
|
-
|
6
|
-
|
6
|
Currency translation and other movements
|
(3)
|
(5)
|
-
|
(1)
|
(2)
|
(11)
|
Charge to income statement
|
17
|
8
|
13
|
-
|
60
|
98
|
Release to income statement
|
(4)
|
(10)
|
(8)
|
-
|
(9)
|
(31)
|
Provisions utilised
|
(222)
|
(11)
|
(10)
|
-
|
(55)
|
(298)
|
At 31 March
|
537
|
347
|
265
|
184
|
283
|
1,616
|
Expected credit losses impairment release
|
-
|
-
|
-
|
(18)
|
-
|
(18)
|
Currency translation and other movements
|
-
|
-
|
1
|
-
|
(8)
|
(7)
|
Charge to income statement
|
32
|
1
|
22
|
-
|
42
|
97
|
Release to income statement
|
(7)
|
(68)
|
(20)
|
-
|
(10)
|
(105)
|
Provisions utilised
|
(87)
|
(20)
|
(8)
|
-
|
(62)
|
(177)
|
At 30 June
|
475
|
260
|
260
|
166
|
245
|
1,406
|
|
|
|
|
|
|
|
(1)
|
Includes
payment protection insurance provision which reflects the estimated
cost of PPI redress attributable to claims prior to the Financial
Conduct Authority (FCA) complaint deadline of 29 August 2019. All
pre-deadline complaints have been processed which removes complaint
volume estimation uncertainty from the provision estimate. NatWest
Group continues to conclude remaining bank-identified closure work
and conclude cases with the Financial Ombudsmen
Service.
|
(2)
|
Other
materially comprises provisions relating to restructuring
costs.
|
|
|
30 June 2021
|
31 December 2020
|
|
|
||
|
|
£m
|
£m
|
|
Loans - amortised cost and FVOCI
|
|
|
|
Stage 1
|
316,701
|
287,124
|
|
Stage 2
|
53,188
|
78,917
|
|
Stage 3
|
5,703
|
6,358
|
|
Of which: individual
|
1,851
|
2,292
|
|
Of which: collective
|
3,852
|
4,066
|
|
|
375,592
|
372,399
|
|
ECL provisions (1)
|
|
|
|
Stage 1
|
433
|
519
|
|
Stage 2
|
2,300
|
3081
|
|
Stage 3
|
2,192
|
2,586
|
|
Of which: individual
|
560
|
831
|
|
Of which: collective
|
1,632
|
1,755
|
|
|
4,925
|
6,186
|
|
ECL provisions coverage (2, 3)
|
|
|
|
Stage 1 (%)
|
0.14
|
0.18
|
|
Stage 2 (%)
|
4.32
|
3.90
|
|
Stage 3 (%)
|
38.44
|
40.67
|
|
|
1.31
|
1.66
|
|
|
|
|
|
|
Half year ended
|
|
|
|
30 June
|
30 June
|
|
|
2021
|
2020
|
|
|
£m
|
£m
|
|
Impairment losses
|
|
|
|
ECL (release)/charge (4)
|
(707)
|
2,858
|
|
Stage 1
|
(701)
|
308
|
|
Stage 2
|
(100)
|
2,150
|
|
Stage 3
|
94
|
400
|
|
Of which: individual
|
(25)
|
131
|
|
Of which: collective
|
119
|
269
|
|
ECL loss rate - annualised (basis points) (3)
|
(38)
|
154
|
|
Amounts written off
|
517
|
408
|
|
Of which: individual
|
256
|
41
|
|
Of which: collective
|
261
|
367
|
(1)
|
Includes
£6 million (31 December 2020 – £6 million) related
to assets classified as FVOCI.
|
(2)
|
ECL
provisions coverage is calculated as ECL provisions divided by
loans.
|
(3)
|
ECL
provisions coverage and ECL loss rates are calculated on third
party loans and related ECL provisions and charge respectively. ECL
loss rate is calculated as annualised third party ECL charge
divided by loans. The half year ECL charge is annualised by
multiplying by two.
|
(4)
|
Includes
a £4 million charge (30 June 2020 – £5 million
charge) related to other financial assets, of which nil (30 June
2020 – £4 million) related to assets classified as
FVOCI; and £2 million (30 June 2020 - £8 million) related
to contingent liabilities.
|
(5)
|
The
table shows gross loans only and excludes amounts that are outside
the scope of the ECL framework. Refer to page 29 for Financial
instruments
within
the scope of the IFRS 9 ECL framework for further details. Other
financial assets within the scope of the IFRS 9 ECL framework were
cash and
balances
at central banks totalling £150.5 billion (31 December 2020
– £122.7 billion) and debt securities of £49.8
billion (31 December 2020 – £53.8
billion).
|
|
|
30 June 2021
|
31 December 2020
|
|
|
||
|
|
£m
|
£m
|
|
Guarantees
|
2,005
|
2,244
|
|
Other contingent liabilities
|
2,117
|
2,321
|
|
Standby facilities, credit lines and other commitments
|
119,387
|
124,167
|
|
Contingent liabilities and commitments
|
123,509
|
128,732
|
Howard
Davies
|
Alison
Rose-Slade
|
Katie
Murray
|
Chairman
|
Group
Chief Executive Officer
|
Group
Chief Financial Officer
|
Chairman
|
Executive directors
|
Non-executive directors
|
Howard
Davies
|
Alison
Rose-Slade
Katie
Murray
|
Frank
Dangeard
Patrick
Flynn
Morten
Friis
Robert
Gillespie
Yasmin
Jetha
Mike
Rogers
Mark
Seligman
Lena
Wilson
|
●
|
Statutory
results on pages 82 to 110 comprising the condensed consolidated
income statement, condensed consolidated statement of comprehensive
income, condensed consolidated balance sheet, condensed
consolidated statement of changes in equity, condensed consolidated
cash flow statement and the related notes 1 to 16.
|
●
|
Risk
and capital management section on pages 19 to 81 as indicated
within the scope of the independent review.
|
|
30 June
2021
|
31
March
2021
|
31
December
2020
|
|
|
|
|
Ordinary share price (pence)
|
203.20
|
196.25
|
167.65
|
|
|
|
|
Number of ordinary shares in issue (millions)
|
11,776
|
11,776
|
12,129
|
2021
third quarter interim management statement
|
29
October 2021
|
Analyst enquiries:
Alexander Holcroft, Investor Relations
|
+44 (0) 20 7672
1758
|
Media enquiries:
NatWest Group Press
Office
|
+44
(0) 131 523 4205
|
|
Management presentation
|
Fixed income call
|
Web cast and dial in details
|
Date:
|
Friday
30 July 2021
|
Friday
30 July 2021
|
www.natwestgroup.com/results
|
Time:
|
9:00am
UK time
|
1:00pm
UK time
|
International
– +44 (0) 20 3057 6566
|
Conference ID:
|
5488004
|
4161938
|
UK Free
Call – 0800 279 6637
US
Local Dial-In, New York - 1 646 517 5063
|
●
|
Interim
Results 2021 and background slides.
|
●
|
A
financial supplement containing income statement, balance sheet and
segment performance information for the nine quarters ended 30 June
2021.
|
●
|
NatWest
Group and NWH Group Pillar 3 supplement at 30 June
2021.
|
●
|
Climate,
Purpose and ESG measures supplement H1 2021.
|
Measure
|
Basis of preparation
|
Additional analysis or reconciliation
|
NatWest Group return on tangible equity
|
Annualised profit or loss for the period attributable to ordinary
shareholders divided by average tangible equity. Average tangible
equity is average total equity excluding non-controlling interests
(NCI) less average intangible assets and average other
owners’ equity.
|
Table 1
|
Segmental return on equity
|
Segmental operating profit or loss adjusted for tax and for
preference share dividends divided by average notional tangible
equity, allocated at an operating segment specific rate, of the
period average segmental risk-weighted assets incorporating the
effect of capital deductions (RWAes).
|
Table 2
|
Operating expenses analysis – management view
|
The
management analysis of operating expenses shows strategic costs and
litigation and conduct costs in separate lines. Depreciation and
amortisation, and other administrative expenses attributable to
these costs are included in strategic costs and litigation and
conduct costs lines for management analysis.
These
amounts are included in staff, premises and equipment and other
administrative expenses in the statutory analysis.
|
Table 3
|
Cost:income ratio
|
Total
operating expenses less operating lease depreciation divided by
total income less operating lease depreciation.
|
Table 4
|
Commentary – adjusted periodically for specific
items
|
NatWest
Group and segmental business performance commentary have been
adjusted for the impact of specific items such as such as notable
items, operating lease depreciation, strategic costs and litigation
and conduct costs.
|
Notable
items - page 5
Operating
lease depreciation, Strategic, litigation and conduct costs - pages
14 to 18
|
Income across UK and RBSI retail and commercial
businesses
|
Comprises income in the Retail Banking, Commercial Banking, Private
Banking and RBS International operating segments, excluding notable
items.
|
Table 7
|
Net lending in the UK and RBSI retail and commercial
businesses
|
Comprises customer loans in the Retail Banking, Commercial Banking,
Private Banking and RBS International operating segments, excluding
UK Government support schemes.
|
Table 8
|
Deposits across UK and RBSI retail and commercial
businesses
|
Comprises customer deposits in the Retail Banking, Commercial
Banking, Private Banking and RBS International operating
segments.
|
Table 9
|
Bank net interest margin (NIM)
|
Net interest income of the banking business less NatWest Markets
(NWM) element as a percentage of interest-earning assets of the
banking business less NWM element.
|
Table 5
|
Bank net interest margin (NIM) excluding Liquid Asset
Buffer
|
Net interest income of the banking business less NWM element as a
percentage of interest-earning assets of the banking business less
NWM element and Liquid Asset Buffer.
|
Table 5
|
Measure
|
Basis of preparation
|
Additional analysis or reconciliation
|
Loan:deposit ratio
|
Net customer loans held at amortised cost divided by total customer
deposits.
|
Table 6
|
Tangible net asset value (TNAV)
|
Tangible
equity divided by the number of ordinary shares in issue (excluding
own shares held). Tangible equity is ordinary shareholders’
equity less intangible assets.
|
Page
4
|
NIM
|
Net interest income as a percentage of interest-earning
assets.
|
Pages
14 to 18
|
Funded assets
|
Total
assets less derivatives.
|
Pages
14 to 18
|
Loan impairment rate
|
The
annualised loan impairment charge divided by gross customer
loans.
|
Pages
14 to 18
|
Third party customer asset rate
|
Third
party customer asset rate is calculated as annualised interest
receivable on third-party loans to customers as a percentage of
third-party loans to customers only. This excludes intragroup
items, loans to banks and liquid asset portfolios, which are
included for the calculation of net interest margin.
|
Pages
14 to 18
|
Third party customer funding rate
|
Third
party customer funding rate is calculated as annualised interest
payable or receivable on third-party customer deposits as a
percentage of third-party customer deposits, including interest
bearing and non-interest bearing customer deposits. This excludes
intragroup items, bank deposits, debt securities in issue and
subordinated liabilities.
|
Pages
14 to 18
|
Assets under management and administration (AUMA)
|
AUMA
comprises both assets under management (AUMs) and assets under
administration (AUAs) serviced through the Private Banking
franchise.
AUMs
comprise assets where the investment management is undertaken by
Private Banking on behalf of Private Banking, Retail Banking and
RBSI customers.
AUAs
comprise third party assets held on an execution-only basis in
custody by Private Banking, Retail Banking and RBSI for their
customers accordingly, for which the execution services are
supported by Private Banking. Private Banking receive a fee in
respect of providing investment management and
execution services to Retail Banking and RBSI
franchises.
.
|
Page 8
|
Depositary assets
|
Assets
held by RBSI as an independent trustee and in a depositary service
capacity.
|
Page 10
|
|
Half year ended and
|
|
|
|||
|
as at
|
|
Quarter ended and as at
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2021
|
2020
|
|
2021
|
2021
|
2020
|
Profit/(loss) attributable to ordinary shareholders
(£m)
|
1,842
|
(705)
|
|
1,222
|
620
|
(993)
|
Annualised profit/(loss)attributable to ordinary shareholders
(£m)
|
3,684
|
(1,410)
|
|
4,888
|
2,480
|
(3,972)
|
Average total equity excluding NCI (£m)
|
43,375
|
44,026
|
|
43,011
|
43,566
|
44,068
|
Adjustment for other owners equity and intangibles
(£m)
|
(11,934)
|
(11,911)
|
|
(11,712)
|
(12,333)
|
(11,987)
|
Adjusted total tangible equity (£m)
|
31,441
|
32,115
|
|
31,299
|
31,233
|
32,081
|
Return on tangible equity (%)
|
11.7%
|
(4.4%)
|
|
15.6%
|
7.9%
|
(12.4%)
|
|
|
|
|
International Banking & Markets
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Ulster
|
Half year ended 30 June 2021
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
Bank RoI
|
Operating profit/(loss) (£m)
|
1,020
|
146
|
1,339
|
173
|
(249)
|
(7)
|
Preference share cost allocation (£m)
|
(40)
|
(10)
|
(76)
|
(10)
|
(31)
|
-
|
Adjustment for tax (£m)
|
(274)
|
(38)
|
(354)
|
(29)
|
78
|
-
|
Adjusted attributable profit/(loss) (£m)
|
706
|
98
|
909
|
134
|
(202)
|
(7)
|
Annualised adjusted attributable profit/(loss)
(£m)
|
1,412
|
196
|
1,818
|
268
|
(404)
|
(14)
|
Average RWAe (£bn)
|
35.4
|
11.0
|
72.1
|
7.6
|
29.2
|
11.1
|
Equity factor
|
14.5%
|
12.5%
|
11.5%
|
16.0%
|
15.0%
|
15.5%
|
RWAe applying equity factor (£bn)
|
5.1
|
1.4
|
8.3
|
1.2
|
4.4
|
1.7
|
Return on equity (%)
|
27.5%
|
14.2%
|
21.9%
|
22.1%
|
(9.2%)
|
(0.8%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2020
|
|
|
|
|
|
|
Operating profit/(loss) (£m)
|
453
|
84
|
(1,008)
|
87
|
69
|
(239)
|
Preference share cost allocation (£m)
|
(44)
|
(11)
|
(76)
|
(10)
|
(34)
|
-
|
Adjustment for tax (£m)
|
(115)
|
(20)
|
304
|
(11)
|
(10)
|
-
|
Adjusted attributable profit/(loss) (£m)
|
294
|
53
|
(780)
|
66
|
25
|
(239)
|
Annualised adjusted attributable profit/(loss)
(£m)
|
588
|
106
|
(1,560)
|
132
|
50
|
(478)
|
Average RWAe (£bn)
|
38.0
|
10.2
|
75.9
|
7.0
|
41.9
|
12.7
|
Equity factor
|
14.5%
|
12.5%
|
11.5%
|
16.0%
|
15.0%
|
15.5%
|
RWAe applying equity factor (£bn)
|
5.5
|
1.3
|
8.7
|
1.1
|
6.3
|
2.0
|
Return on equity (%)
|
10.7%
|
8.2%
|
(17.9%)
|
11.8%
|
0.8%
|
(24.2%)
|
|
|
|
|
International Banking & Markets
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Ulster
|
Quarter ended 30 June 2021
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
Bank RoI
|
Operating profit/(loss) (£m)
|
585
|
82
|
864
|
105
|
(169)
|
(18)
|
Preference share cost allocation (£m)
|
(20)
|
(5)
|
(38)
|
(5)
|
(15)
|
-
|
Adjustment for tax (£m)
|
(158)
|
(22)
|
(231)
|
(18)
|
52
|
-
|
Adjusted attributable profit/(loss) (£m)
|
407
|
55
|
595
|
83
|
(132)
|
(18)
|
Annualised adjusted attributable profit/(loss)
(£m)
|
1,628
|
220
|
2,380
|
332
|
(528)
|
(72)
|
Monthly average RWAe (£bn)
|
35.1
|
11.1
|
70.6
|
7.8
|
29.2
|
10.8
|
Equity factor
|
14.5%
|
12.5%
|
11.5%
|
16.0%
|
15.0%
|
15.5%
|
RWAe applying equity factor (£bn)
|
5.1
|
1.4
|
8.1
|
1.2
|
4.4
|
1.7
|
Return on equity (%)
|
32.0%
|
15.9%
|
29.3%
|
26.5%
|
(12.1%)
|
(4.3%)
|
|
|
|
|
|
|
|
Quarter ended 31 March 2021
|
|
|
|
|
|
|
Operating profit/(loss)(£m)
|
435
|
64
|
475
|
68
|
(80)
|
11
|
Preference share cost allocation (£m)
|
(20)
|
(5)
|
(38)
|
(5)
|
(16)
|
-
|
Adjustment for tax (£m)
|
(116)
|
(17)
|
(122)
|
(11)
|
27
|
-
|
Adjusted attributable profit/(loss) (£m)
|
299
|
42
|
315
|
52
|
(69)
|
11
|
Annualised adjusted attributable profit/(loss)
(£m)
|
1,196
|
168
|
1,260
|
208
|
(276)
|
44
|
Average RWAe (£bn)
|
35.8
|
11.0
|
73.6
|
7.4
|
29.2
|
11.4
|
Equity factor
|
14.5%
|
12.5%
|
11.5%
|
16.0%
|
15.0%
|
15.5%
|
RWAe applying equity factor (£bn)
|
5.2
|
1.4
|
8.5
|
1.2
|
4.4
|
1.8
|
Return on equity (%)
|
23.0%
|
12.4%
|
14.9%
|
17.5%
|
(6.3%)
|
2.5%
|
|
|
|
|
|
|
|
Quarter ended 30 June 2020
|
|
|
|
|
|
|
Operating profit/(loss) (£m)
|
129
|
35
|
(971)
|
19
|
(137)
|
(218)
|
Preference share cost allocation (£m)
|
(22)
|
(5)
|
(38)
|
(5)
|
(17)
|
-
|
Adjustment for tax (£m)
|
(30)
|
(8)
|
283
|
(2)
|
43
|
-
|
Adjusted attributable profit/(loss) (£m)
|
77
|
22
|
(726)
|
12
|
(111)
|
(218)
|
Annualised adjusted attributable profit/(loss)
(£m)
|
308
|
88
|
(2,904)
|
48
|
(444)
|
(872)
|
Average RWAe (£bn)
|
37.4
|
10.3
|
77.8
|
7.1
|
41.8
|
12.6
|
Equity factor
|
14.5%
|
12.5%
|
11.5%
|
16.0%
|
15.0%
|
15.5%
|
RWAe applying equity factor (£bn)
|
5.4
|
1.3
|
8.9
|
1.1
|
6.3
|
2.0
|
Return on equity (%)
|
5.7%
|
6.6%
|
(32.5%)
|
4.3%
|
(7.1%)
|
(44.5%)
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2021
|
2020
|
|
2021
|
2021
|
2020
|
Operating expenses
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Staff costs
|
1,902
|
1,955
|
|
917
|
985
|
963
|
Premises and equipment
|
502
|
651
|
|
254
|
248
|
393
|
Other administrative expenses
|
703
|
696
|
|
326
|
377
|
298
|
Depreciation and amortisation
|
414
|
448
|
|
209
|
205
|
255
|
Total operating expenses
|
3,521
|
3,750
|
|
1,706
|
1,815
|
1,909
|
|
|
|
|
|
|
|
|
Half year ended
|
||||||||
|
30 June 2021
|
|
30 June 2020
|
||||||
|
|
Litigation
|
|
|
|
|
Litigation
|
|
|
|
|
and
|
|
Statutory
|
|
|
and
|
|
Statutory
|
|
Strategic
|
conduct
|
Other
|
operating
|
|
Strategic
|
conduct
|
Other
|
operating
|
|
costs
|
costs
|
expenses
|
expenses
|
|
costs
|
costs
|
expenses
|
expenses
|
Operating expenses
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Staff costs
|
215
|
-
|
1,687
|
1,902
|
|
160
|
-
|
1,795
|
1,955
|
Premises and equipment
|
32
|
-
|
470
|
502
|
|
148
|
-
|
503
|
651
|
Other administrative expenses
|
64
|
(18)
|
657
|
703
|
|
100
|
(89)
|
685
|
696
|
Depreciation and amortisation
|
21
|
-
|
393
|
414
|
|
56
|
-
|
392
|
448
|
Total
|
332
|
(18)
|
3,207
|
3,521
|
|
464
|
(89)
|
3,375
|
3,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended
|
|||
|
|
|
|
|
|
30 June 2021
|
|||
|
|
|
|
|
|
|
Litigation
|
|
|
|
|
|
|
|
|
|
and
|
|
Statutory
|
|
|
|
|
|
|
Strategic
|
conduct
|
Other
|
operating
|
|
|
|
|
|
|
costs
|
costs
|
expenses
|
expenses
|
Operating expenses
|
|
|
|
|
|
£m
|
£m
|
£m
|
£m
|
Staff costs
|
|
|
|
|
|
104
|
-
|
813
|
917
|
Premises and equipment
|
|
|
|
|
|
16
|
-
|
238
|
254
|
Other administrative expenses
|
|
|
|
|
|
41
|
(34)
|
319
|
326
|
Depreciation and amortisation
|
|
|
|
|
|
11
|
-
|
198
|
209
|
Total
|
|
|
|
|
|
172
|
(34)
|
1,568
|
1,706
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended
|
|||
|
|
|
|
|
|
31 March 2021
|
|||
|
|
|
|
|
|
|
Litigation
|
|
|
|
|
|
|
|
|
|
and
|
|
Statutory
|
|
|
|
|
|
|
Strategic
|
conduct
|
Other
|
operating
|
|
|
|
|
|
|
costs
|
costs
|
expenses
|
expenses
|
Operating expenses
|
|
|
|
|
|
£m
|
£m
|
£m
|
£m
|
Staff costs
|
|
|
|
|
|
111
|
-
|
874
|
985
|
Premises and equipment
|
|
|
|
|
|
16
|
-
|
232
|
248
|
Other administrative expenses
|
|
|
|
|
|
23
|
16
|
338
|
377
|
Depreciation and amortisation
|
|
|
|
|
|
10
|
-
|
195
|
205
|
Total
|
|
|
|
|
|
160
|
16
|
1,639
|
1,815
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended
|
|||
|
|
|
|
|
|
30 June 2020
|
|||
|
|
|
|
|
|
|
Litigation
|
|
|
|
|
|
|
|
|
|
and
|
|
Statutory
|
|
|
|
|
|
|
Strategic
|
conduct
|
Other
|
operating
|
|
|
|
|
|
|
costs
|
costs
|
expenses
|
expenses
|
Operating expenses
|
|
|
|
|
|
£m
|
£m
|
£m
|
£m
|
Staff costs
|
|
|
|
|
|
87
|
-
|
876
|
963
|
Premises and equipment
|
|
|
|
|
|
135
|
-
|
258
|
393
|
Other administrative expenses
|
|
|
|
|
|
57
|
(85)
|
326
|
298
|
Depreciation and amortisation
|
|
|
|
|
|
54
|
-
|
201
|
255
|
Total
|
|
|
|
|
|
333
|
(85)
|
1,661
|
1,909
|
|
|
|
|
International Banking & Markets
|
|
Central
|
|
|
|
Retail
|
Private
|
Commercial
|
RBS
|
NatWest
|
Ulster
|
items
|
NatWest
|
|
Banking
|
Banking
|
Banking
|
International
|
Markets
|
Bank RoI
|
& other
|
Group
|
Half year ended 30 June 2021
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Operating expenses
|
(1,187)
|
(249)
|
(1,152)
|
(112)
|
(560)
|
(261)
|
-
|
(3,521)
|
Operating lease depreciation
|
-
|
-
|
70
|
-
|
-
|
-
|
-
|
70
|
Adjusted operating expenses
|
(1,187)
|
(249)
|
(1,082)
|
(112)
|
(560)
|
(261)
|
-
|
(3,451)
|
Total income
|
2,150
|
368
|
1,923
|
256
|
295
|
243
|
84
|
5,319
|
Operating lease depreciation
|
-
|
-
|
(70)
|
-
|
-
|
-
|
-
|
(70)
|
Adjusted total income
|
2,150
|
368
|
1,853
|
256
|
295
|
243
|
84
|
5,249
|
Cost:income ratio (%)
|
55.2%
|
67.7%
|
58.4%
|
43.8%
|
189.8%
|
107.4%
|
nm
|
65.7%
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2020
|
|
|
|
|
|
|
|
|
Operating expenses
|
(1,075)
|
(252)
|
(1,221)
|
(126)
|
(707)
|
(245)
|
(124)
|
(3,750)
|
Operating lease depreciation
|
-
|
-
|
73
|
-
|
-
|
-
|
-
|
73
|
Adjusted operating expenses
|
(1,075)
|
(252)
|
(1,148)
|
(126)
|
(707)
|
(245)
|
(124)
|
(3,677)
|
Total income
|
2,185
|
392
|
2,003
|
259
|
816
|
249
|
(66)
|
5,838
|
Operating lease depreciation
|
-
|
-
|
(73)
|
-
|
-
|
-
|
-
|
(73)
|
Adjusted total income
|
2,185
|
392
|
1,930
|
259
|
816
|
249
|
(66)
|
5,765
|
Cost:income ratio (%)
|
49.2%
|
64.3%
|
59.5%
|
48.6%
|
86.6%
|
98.4%
|
nm
|
63.8%
|
|
|
|
|
|
|
|
|
|
Quarter ended 30 June 2021
|
|
|
|
|
|
|
|
|
Operating expenses
|
(600)
|
(128)
|
(569)
|
(55)
|
(285)
|
(136)
|
67
|
(1,706)
|
Operating lease depreciation
|
-
|
-
|
35
|
-
|
-
|
-
|
-
|
35
|
Adjusted operating expenses
|
(600)
|
(128)
|
(534)
|
(55)
|
(285)
|
(136)
|
67
|
(1,671)
|
Total income
|
1,094
|
183
|
982
|
133
|
106
|
119
|
43
|
2,660
|
Operating lease depreciation
|
-
|
-
|
(35)
|
-
|
-
|
-
|
-
|
(35)
|
Adjusted total income
|
1,094
|
183
|
947
|
133
|
106
|
119
|
43
|
2,625
|
Cost income ratio (%)
|
54.8%
|
69.9%
|
56.4%
|
41.4%
|
268.9%
|
114.3%
|
nm
|
63.7%
|
|
|
|
|
|
|
|
|
|
Quarter ended 31 March 2021
|
|
|
|
|
|
|
|
|
Operating expenses
|
(587)
|
(121)
|
(583)
|
(57)
|
(275)
|
(125)
|
(67)
|
(1,815)
|
Operating lease depreciation
|
-
|
-
|
35
|
-
|
-
|
-
|
-
|
35
|
Adjusted operating expenses
|
(587)
|
(121)
|
(548)
|
(57)
|
(275)
|
(125)
|
(67)
|
(1,780)
|
Total income
|
1,056
|
185
|
941
|
123
|
189
|
124
|
41
|
2,659
|
Operating lease depreciation
|
-
|
-
|
(35)
|
-
|
-
|
-
|
-
|
(35)
|
Adjusted total income
|
1,056
|
185
|
906
|
123
|
189
|
124
|
41
|
2,624
|
Cost income ratio (%)
|
55.6%
|
65.4%
|
60.5%
|
46.3%
|
145.5%
|
100.8%
|
nm
|
67.8%
|
|
|
|
|
|
|
|
|
|
Quarter ended 30 June 2020
|
|
|
|
|
|
|
|
|
Operating expenses
|
(546)
|
(129)
|
(611)
|
(65)
|
(365)
|
(122)
|
(71)
|
(1,909)
|
Operating lease depreciation
|
-
|
-
|
37
|
-
|
-
|
-
|
-
|
37
|
Adjusted operating expenses
|
(546)
|
(129)
|
(574)
|
(65)
|
(365)
|
(122)
|
(71)
|
(1,872)
|
Total income
|
1,035
|
191
|
995
|
115
|
273
|
120
|
(53)
|
2,676
|
Operating lease depreciation
|
-
|
-
|
(37)
|
-
|
-
|
-
|
-
|
(37)
|
Adjusted total income
|
1,035
|
191
|
958
|
115
|
273
|
120
|
(53)
|
2,639
|
Cost income ratio (%)
|
52.8%
|
67.5%
|
59.9%
|
56.5%
|
133.7%
|
101.7%
|
nm
|
70.9%
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2021
|
2020
|
|
2021
|
2021
|
2020
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
NatWest Group net interest income
|
3,916
|
3,852
|
|
1,985
|
1,931
|
1,910
|
Less NWM net interest income
|
3
|
34
|
|
(4)
|
7
|
(6)
|
Net interest income excluding NWM
|
3,919
|
3,886
|
|
1,981
|
1,938
|
1,904
|
|
|
|
|
|
|
|
Annualised NatWest Group net interest income
|
7,897
|
7,746
|
|
7,962
|
7,831
|
7,682
|
Annualised net interest income excluding NWM
|
7,903
|
7,815
|
|
7,946
|
7,860
|
7,658
|
|
|
|
|
|
|
|
Average interest earning assets (IEA)
|
519,219
|
477,898
|
|
526,124
|
512,237
|
497,440
|
Less NWM average IEA
|
32,346
|
37,994
|
|
32,263
|
32,429
|
39,874
|
Bank average IEA
|
486,873
|
439,904
|
|
493,861
|
479,808
|
457,566
|
Less liquid asset buffer average IEA (1)
|
157,524
|
124,333
|
|
163,437
|
151,603
|
136,468
|
Bank average IEA excluding liquid asset buffer
|
329,349
|
315,571
|
|
330,424
|
328,205
|
321,098
|
|
|
|
|
|
|
|
Net interest margin
|
1.52%
|
1.62%
|
|
1.51%
|
1.53%
|
1.54%
|
Bank net interest margin (NatWest Group NIM excluding
NWM)
|
1.62%
|
1.78%
|
|
1.61%
|
1.64%
|
1.67%
|
Bank net interest margin excluding liquid asset buffer
|
2.40%
|
2.48%
|
|
2.40%
|
2.39%
|
2.38%
|
|
|
|
As at
|
|||
|
|
|
|
30 June
|
31 March
|
30 June
|
|
|
|
|
2021
|
2021
|
2020
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Loans to customers - amortised cost
|
|
|
|
362,711
|
358,728
|
352,341
|
Customer deposits
|
|
|
|
467,214
|
453,308
|
408,268
|
Loan:deposit ratio (%)
|
|
|
|
78%
|
79%
|
86%
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2021
|
2020
|
|
2021
|
2021
|
2020
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Retail Banking
|
2,150
|
2,185
|
|
1,094
|
1,056
|
1,035
|
Private Banking
|
368
|
392
|
|
183
|
185
|
191
|
Commercial Banking
|
1,923
|
2,003
|
|
982
|
941
|
995
|
RBS International
|
256
|
259
|
|
133
|
123
|
115
|
Income
|
4,697
|
4,839
|
|
2,392
|
2,305
|
2,336
|
Less notable items
|
(10)
|
8
|
|
(24)
|
14
|
(11)
|
Total UK and RBSI retail and commercial
businesses
|
|
|
|
|
|
|
income
excluding notable items
|
4,687
|
4,847
|
|
2,368
|
2,319
|
2,325
|
|
|
|
|
30 June
|
31 March
|
31 December
|
|
|
|
|
2021
|
2021
|
2020
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Retail Banking
|
|
|
|
178.1
|
174.8
|
172.3
|
Private Banking
|
|
|
|
18.0
|
17.5
|
17.0
|
Commercial Banking
|
|
|
|
103.8
|
106.6
|
108.2
|
RBS International
|
|
|
|
15.1
|
14.7
|
13.3
|
Loans to customers
|
|
|
|
315.0
|
313.6
|
310.8
|
Less UK Government support schemes
|
|
|
|
(13.0)
|
(13.5)
|
(12.9)
|
Total UK and RBSI retail and commercial businesses
|
|
|
|
|
|
|
net lending
excluding UK Government support schemes
|
|
|
302.0
|
300.1
|
297.9
|
|
|
|
|
30 June
|
31 March
|
31 December
|
|
|
|
|
2021
|
2021
|
2020
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Retail Banking
|
|
|
|
184.1
|
179.1
|
171.8
|
Private Banking
|
|
|
|
34.7
|
33.5
|
32.4
|
Commercial Banking
|
|
|
|
176.0
|
169.4
|
167.7
|
RBS International
|
|
|
|
33.9
|
33.3
|
31.3
|
Total UK and RBSI retail and commercial businesses customer
deposits
|
|
|
428.7
|
415.3
|
403.2
|
|
NATWEST
GROUP plc (Registrant)
|
|
|
|
By: /s/
Jan Cargill
|
|
|
|
Name:
Jan Cargill
|
|
Title:
Chief Governance Officer and Company Secretary
|