RBS Slips To Attributable Loss In Q3; Margin Up - Quick Facts

(RTTNews) - Royal Bank of Scotland Group PLC (RBS, RBS.L) reported Friday that its third-quarter attributable loss was 469 million pounds, compared to profit of 940 million pounds last year.

The latest results included restructuring costs of 469 million pounds, litigation and conduct costs of 425 million pounds and a 300 million pounds deferred tax asset impairment.

Operating profit before tax was 255 million pounds, compared to loss of 14 million pounds a year ago.

Net interest margin grew to 2.17% from 2.09% last year.

Total adjusted income increased to 3.12 billion pounds from 2.85 billion pounds a year ago.

Adjusted operating profit was 1.33 billion pounds, higher than last year's 1.12 billion pounds.

Looking ahead, the company said the current low interest rate and low growth environment presents a range of uncertainties which could impact the performance of core business. "Whilst we remain committed to achieving our long term cost:income ratio and returns targets, set out in 2014, we now do not expect to achieve these by 2019 as previously indicated," the bank said.

The company now anticipates a restructuring charge of around £1.5 billion in 2016 compared with previous guidance of over £1.0 billion.