RBS 2004 Annual Report Download - page 23
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Annual Review and Summary Financial Statement 2004
Divisional review
21
Retail Banking has the largest
network of bank branches and
ATMs in the UK, and is the
leading bank for small business
customers. During 2004 Retail
Banking expanded its customer
base, grew its loan portfolio,
particularly in mortgages, and
increased its deposits. Retail
Banking increased its total income
by 6% to £4,742 million.
Retail Banking increased its personal
customers by 268,000 (2%) and its personal
current accounts by 291,000 (3%) in 2004. Retail
Banking was particularly successful in recruiting
youth and student accounts. Retail Banking also
maintained its leading market share of small
business customers.
Average loans and advances to customers
grew by 17%. Average mortgage balances increased
by 21%, personal loans by 14% and small business
loans by 13%. Average customer deposits grew
by 8%.
Customer service
We continue to provide our customers with a
choice of ways to contact us, including telephoning
the branches direct.
Royal Bank of Scotland is rated number one
for overall customer satisfaction in Scotland.
NatWest is the number one bank for students.
Of first year students in England and Wales, 42%
chose to open an account with us, compared with
25% last year.
Our internet banking service continues to
see strong growth. Active customer numbers are
up 39% on 2003, and the number of customers
applying to use the service rose by 41%. The
average daily volume of internet payments rose
by 49% in 2004.
Royal Bank of Scotland launched its
thirteenth mobile banking service in August,
serving 20 villages near Helensburgh. Our mobile
banks now serve more than 300 rural communities
in Scotland.
We have stepped up our efforts to protect
our customers from increasingly sophisticated
attempted frauds. We have introduced new
processes to make it easier for customers to
report suspected fraudulent activity on their
accounts, and improved protection against
wrongful transfer of funds.
Our new mortgage processing system has
improved the efficiency and quality of our service.
This is reflected in the numerous awards we have
won for our mortgage services.