Positive Points:
The group has repaid all emergency loans from the Government and central banks, and recently exited the Asset Protection Scheme (18 Oct). No claims were undertaken.
The bank continues to be restructured. Chief Executive Stephen Hester said in a statement his restructuring would be complete in the next 15-18 months.
RBS said there was continued momentum in strengthening the balance sheet as it continues to shrink its noncore business. In the quarter, RBS shed a further £7 billion of assets and said it is on track to meet its 2013 target.
As of its third quarter results, a financial cushion (capital position) or Core Tier 1 ratio of 11.1% was recorded, compared with 10.8% as of 31 March 2012 and 10.6% at 31 December 2011.
Direct Line Insurance Group was successfully floated in October 2012, raising £911m from the sale of a 34.7% stake in the company.
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