RBS 2013 Annual Report Download - page 146
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Business review
144
Ulster Bank continued
2013 2012 2011
£bn £bn £bn
Capital and balance sheet
Loans and advances to customers (gross)
- mortgages 19.0 19.2 20.0
- commercial real estate
- investment 3.4 3.6 3.9
- development 0.7 0.7 0.9
- other corporate 7.1 7.8 7.7
- other lending 1.2 1.3 1.6
31.4 32.6 34.1
Loan impairment provisions (5.4) (3.9) (2.7)
Net loans and advances to customers 26.0 28.7 31.4
Risk elements in lending
- mortgages 3.2 3.1 2.2
- commercial real estate
- investment 2.3 1.6 1.0
- development 0.5 0.4 0.3
- other corporate 2.3 2.2 1.8
- other lending 0.2 0.2 0.2
Total risk elements in lending 8.5 7.5 5.5
Provision coverage (1) 64% 52% 50%
Customer deposits 21.7 22.1 21.8
Loan:deposit ratio (excluding repos) 120% 130% 143%
Risk-weighted assets
- credit risk
- non-counterparty 28.2 33.6 33.6
- counterparty 0.3 0.6 0.6
- market risk 0.5 0.2 0.3
- operational risk 1.7 1.7 1.8
Total risk-weighted assets 30.7 36.1 36.3
Spot exchange rate - €/£ 1.201 1.227 1.196
Note:
(1) Provision coverage percentage represents loan impairment provisions as a percentage of risk elements in lending.
The creation of RCR will expedite the resolution of underperforming,
capital intensive assets and allow Ulster Bank to focus on building a
stronger core business for the future. The creation of RCR resulted in
additional charges of £911 million in Ulster Bank’s results in Q4 2013.
Operating performance for 2013, excluding the impact of the creation of
RCR, improved by £494 million or 48% versus prior year primarily
reflecting higher income and a 64% reduction in mortgage impairment
losses driven by enhanced collections effectiveness, the development of
programmes to assist customers in financial difficulty and a modest
improvement in economic conditions.
Ulster Bank is committed to supporting the Irish economic recovery and
£1.7 billion of funding has been made available to support new lending in
2014, £1 billion for business customers and £700 million for personal
customers. The bank made considerable progress during 2013 in its
commitment to building a really good bank that serves customers well.