RBS Q4 Loss Narrows, Net Interest Margin Down - Quick Facts

(RTTNews) - Royal Bank of Scotland Group plc (RBS, RBS.L) reported Friday that its fourth-quarter attributable loss was 579 million pounds, narrower than last year's loss of 4.44 billion pounds.

Loss per share was 4.9 pence, compared to loss of 37.7 pence a year ago.

Adjusted earnings per share were 3.0 pence, compared to 7.0 pence last year.

In the quarter, operating loss before tax was 583 million pounds, down from loss of 4.06 billion pounds in the prior year. Adjusted operating profit fell to 512 million pounds from 1.19 billion pounds a year ago.

Net interest income edged up to 2.211 billion pounds from prior year's 2.208 billion pounds. Net interest margin, meanwhile, fell to 2.04 percent from 2.19 percent last year.

Looking ahead, the company reiterated medium term outlook on both return on tangible equity and cost:income ratio.

The company intends to accelerate the transformation of the bank which necessitates increased investment and innovation spend together with additional restructuring costs. As a result operating costs, excluding restructuring and litigation and conduct costs, will reduce compared with 2017.

RBS expects to incur restructuring charges of around 2.5 billion pounds across 2018 to 2019 cumulatively.