RBS International has released its annual results for 2017.
Across all its jurisdictions, including the Channel Islands, the group reports a pre-tax adjusted operating profit of £184 million last year, marking 21 years of consecutive profit for RBS International.
Other highlights include:
• Income from customer activity increased by £15 million, or four per cent, year on year.
• The bank helped 1,900 customers buy a home.
• RBS International increased its total operating costs by 20 per cent to £202 million, due to increased investment in the business and a nine per cent increase in its workforce.
• Year-on-year pre-tax-adjusted operating profit fell by six per cent, due to significant investment in the business.
Andrew McLaughlin, CEO, RBS International, commented: "Our results reflect our strategic intent to build a strong and stable bank. We continue to invest money to secure the future of the bank. In 2017 we opened two branches in Luxembourg and London."