RBS Q1 PBT at Rs. 419.8 crores

RBS operating profit has improved from 2.07% to 3.11%.

The Royal Bank of Scotland N.V. (RBS) announced its India earnings for the year ending 31st March 2014, registering 58% in profit before tax at Rs. 662.11 crores up from Rs.419.8 crores last year. The profit after tax has grown 60% as well. This outstanding growth has been on the back of a steady and focused execution of a strategy (since 2009) of serving UK, Indian and International clients, a highly disciplined approach to cost management, in a year the market environment was muted and global liquidity put pressure on margins. Brijesh Mehra, Country Executive, RBS said, “We are pleased with the 2014 earning numbers, especially in the context of the fragile domestic as well as global economic environment. Our Debt Capital Markets (DCM) franchise continues to consistently play a lead role in landmark deals, helping the country’s leading corporates raise capital for their growth needs. We have been consistently among the top 5 foreign banks in the country in all our product offerings and in this year, our first in the market RCS product continued to dominate this space.” He further added, “India has firmly set itself on a growth trajectory and we are well poised to work closely with our clients in capturing this opportunity not only in India but globally as well.” Almost all of the key indicators have showed a positive trajectory over the previous year return on assets almost doubled to 1.67 pc, net NPA ratio came down to close to NIL as at 31 March 2014, Operating profit as a % of working funds has improved from 2.07% to 3.11%.