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

Morningstar's Kenneth Lamont: Forget AI - battery technology is the theme to watch

Morningstar's Kenneth Lamont: Forget AI - battery technology is the theme to watch

'One in every three new cars will be electric by 2030'

Kenneth Lamont
clock 23 May 2025 • 4 min read
Event Voice: Your questions answered by Aberdeen at the Best Ideas summit

Event Voice: Your questions answered by Aberdeen at the Best Ideas summit

Global infrastructure equity is a top equity pick for H2 2025, says Aberdeen’s Ross McSkimming.

Ross McSkimming, Head of Equities Investment Specialists, Developed Markets, Aberdeen Investments
clock 22 May 2025 • 4 min read
Investment Week reveals Leaders List 2025

Investment Week reveals Leaders List 2025

Honouring investment change-makers

Katrina Lloyd
clock 21 May 2025 • 3 min read
Trustpilot
Loading page