RBS 2014 Annual Report Download - page 11

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9
RBS – Interim Results 2015
Highlights
Outlook
Following the sale of a further tranche of shares, RBS now plans to complete the exit from Citizens by the
end of 2015, subject to market conditions.
The divestment, together with the strong progress being made in CIB and RCR, will enable RBS to meet its
target of reducing RWAs to below £300 billion in 2015.
The restructuring of CIB is planned to accelerate during the second half of 2015. This is expected to result in
lower revenues, partially due to higher disposal losses, and elevated restructuring costs.
Targeted cost savings of £800 million in 2015 are expected to be delivered, notwithstanding the adverse
impact of the increased UK bank levy.
RBS expects to meet its objective of lending growth in strategic segments, UK PBB and Commercial
Banking, in line with or above nominal UK GDP growth.
Investments to make the bank simpler and fairer for customers are having a positive impact on NPS. The
target to improve NPS in all customer franchises is stretching but achievable.
Whilst legacy issues continue to be addressed, material further and incremental costs and provisions related
to historical conduct are expected. The timing and quantum of any future costs, provisions and settlements,
however, remain uncertain.