RBS Annual report for 2010 released.
The RBS group has released it annual reports for 2010 available to every one on their web site.
Here our some of the high lights of the report if you don’t have time to read the whole 443 page PDF document.
The group operating profit was 1.9bn in 2010 which may be down on 2009.
13% core return on equity.
33% impairment losses reduction.
Philip Hampton in his Chairman’s statement said
There was a step-change in our overall financialperformance last year. The return to operating profit reflects both the internal rebuildingprocess at RBS and the external recovery inmarket and economic conditions. We are stilla good way from where we want to be in termsof our performance but 2010 representsanother big stride towards that goal.
And Stephen Hester said in his Group Chief Executive’s review
Two years on from the global financial crisis,our recovery is ahead of schedule. In 2010 wemade big strides in risk reduction and an earlyreturn to operating profits. We have much workstill to do and there are significant obstaclesstill to overcome. We aim for continuedprogress this year.
Story link: RBS Annual report for 2010 released.