RBS: On Track To Reach CET1 Capital Ratio Targets Of 11% By 2015-end

(RTTNews) - The Royal Bank of Scotland Group plc (RBS, RBS.L) issued a statement based on the announcement made by the Bank of England (BoE) regarding the results of its 2014 stress test. RBS's Common Equity Tier 1, or CET1, capital ratio under the hypothetical adverse scenario was 4.6%. After the impact of Management actions, the ratio was 5.2%. The company noted that the results were above the 4.5% post-stress minimum ratio threshold set by the BoE. Ewen Stevenson, CFO, said: "We have made good progress during 2014 in both strengthening our capital ratios and reducing higher risk exposures. However, we recognise that there is still much work to be done to improve the resilience of our balance sheet. Having regard for further potential conduct and litigation settlements and redress, we remain on track to reach our CET1 capital ratio targets of 11% by end 2015 and at least 12% by end 2016."