RBS set to 'significantly outperform' 2014 estimates

clock

RBS expects to "significantly outperform" its estimates for dealing with impaired loans in 2014, according to a trading update.

The bank reported an absence of large one-off impairments and lower levels of new non-performing loans during the third quarter. It said the quarter has seen continued improvements in economic conditions for its key markets, including Ireland.

It told investors: "RBS now expects to significantly outperform its previous guidance of c£1bn total impairments for final year 2014. Previously disclosed uncertainties remain, particularly relating to conduct and litigation matters."

'Bad bank' RBS Capital Resolution, which is responsible for running down assets, saw "strong operating performance" over the quarter, it said, with the potential for an acceleration of its wind-down goals.

Meanwhile, rising Irish residential property prices combined with debt management has helped its subsidiary, Ulster Bank, to reduce arrears.

RBS will release its Q3 2014 interim management statement on 31 October.

Shares in the bank jumped shortly after the market opened to stand 4% higher at 376p by 8.30am.

More on Investment

Event Voice: Your questions answered by FSSA Investment Managers at the Emerging Markets Conference

Event Voice: Your questions answered by FSSA Investment Managers at the Emerging Markets Conference

Angus Sandison, Investment Analyst, FSSA Investment Managers
clock 24 April 2025 • 3 min read
US M&A spending jumps 50% in March as deal volume declines

US M&A spending jumps 50% in March as deal volume declines

Near 6% drop in number of deals happening

Eve Maddock-Jones
clock 23 April 2025 • 1 min read
Stories of the week: The FCA, Bank of America and Neil Woodford

Stories of the week: The FCA, Bank of America and Neil Woodford

Recession expectations, AI chips and Hargreaves Lansdown: The biggest stories from the world of investment and asset management this week

clock 17 April 2025 • 1 min read
Trustpilot