RBS 2013 Annual Report Download - page 263
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Business review Risk and balance sheet management
261
Personal lending
The Group’s personal lending portfolio includes credit cards, unsecured loans, auto finance and overdrafts. The majority of personal lending exposures
exist in the UK and the US. Impairment charge as a proportion of average loans and receivables is shown in the following table.
2013 2012 2011
Impairment Impairment Impairment
charge as a % charge as a % charge as a %
Average of average Average of average Average of average
loans and loans and loans and loans and loans and loans and
receivables receivables receivables receivables receivables receivables
£m % £m % £m %
UK Retail cards (1) 5,626 2.0 5,624 2.3 5,675 3.0
UK Retail loans (1) 5,761 1.6 6,513 2.5 7,755 2.8
RBS Citizens cards (2) 903 3.9 916 3.8 936 5.1
RBS Citizens auto loans (2) 5,080 0.1 5,289 0.1 4,856 0.2
Notes:
(1) The ratio for UK Retail assets refers to the impairment charge for the year.
(2) The ratio for RBS Citizens refers to the impairment charge in the year, net of recoveries realised in the year.
Key points
UK Retail
• The UK personal lending portfolio comprised credit cards,
unsecured loans and overdrafts, and totalled £13.8 billion at 31
December 2013 (2012 - £14.7 billion). Loans fell 12%.
• The impairment charge on unsecured lending was £291 million for
the year, down 34% on 2012. The decline reflected the effect of prior
risk appetite tightening.
• The Group continued to perform favourably relative to industry
benchmarks for cards arrears.
*unaudited
RBS Citizens
• RBS Citizens credit card portfolio is comprised of good quality
consumer loans originated in-footprint through the RBS Citizen’s
branch network and totalled £945 million at 31 December 2013
(2012 - £948 million). The product portfolio credit quality continued
to improve with credit scores for new originations throughout
2013 higher than the portfolio average.
• Auto loans originated through dealer networks totalled £5.5 billion at
31 December 2013 (2012 - £5.4 billion). The portfolio maintained
strong credit fundamentals. New origination credit and collateral
characteristics throughout 2013 remained equally strong as a result
of the short balance life and the resulting low collateral risk.