RBS 2013 Annual Report Download - page 18

16
For further
information
see page 143
Ulster Bank
Performance highlights 2013 2012
Return on equity (%) (32.4) (21.8)
Cost:income ratio (%) 64 62
Loan:deposit ratio (%) 120 130
Risk-weighted assets (£bn) 30.7 36.1
Jim Brown
Chief Executive
Contribution
to Core income
We are a leading retail and commercial
bank in Northern Ireland and the Republic of
Ireland. We provide a comprehensive range of
financial services through our Retail Markets
and Corporate Markets divisions.
Performance overview
• Operating loss for 2013 was £1,457 million,
including increased impairment losses of
£892 million relating to the creation of RCR.
Excluding the impact of the creation of
RCR, operating loss improved by £494
million or 48%.
• Impairment losses improved significantly,
excluding the RCR impact, with a 64%
reduction in losses in the mortgage
portfolio.
• Retail and SME deposit balances increased
by 2%, offset by a reduction in wholesale
customer balances, resulting in a 2%
decline in total deposit balances.
Building a better bank that serves
customers well
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. 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.
Customer story
Home run
Demand for affordable housing is
extremely high across the UK and Apex,
one of Northern Ireland’s largest housing
associations, is working hard to help meet
this need. Apex employs 570 people and
has over 4,000 units under management,
including general needs housing,
supported housing, sheltered housing and
registered care.
1,000 brand-new social
and affordable homes
A £10 million loan from Ulster Bank will
help Apex deliver around 1,000 brand-
new social and affordable homes,
creating much-needed new homes as well
as hundreds of construction jobs.
4%