Nathan Bostock, Head of Group Restructuring & Risk at The Royal Bank of Scotland Group, discusses RBS's strategic plan to become one of the world's most admired and valuable universal banks. The plan involves restructuring the core bank around customer-focused franchises, aggressively restructuring the non-core bank to reduce risk, and implementing cross-cutting initiatives to change culture and strengthen risk management. The presentation outlines RBS's goals of achieving a sustainable 15%+ return on equity from a stable risk profile by 2012 as it executes the plan through 2010-2011 and works to complete the non-core run-down and exit the asset protection scheme.
The Non-Core Division aims to maximize shareholder value through the managed rundown and disposal of non-strategic assets, with the objectives of accelerating the reduction of capital and funding requirements, maximizing cost reductions, and protecting the Core RBS franchise to allow management to focus on continuing businesses. The Division considers exit options such as selling assets now or later, or closing or restructuring businesses, to optimize the timing, cost, and method of reducing its portfolio.
Ian R. Stuart - Career History, Accomplishments, LeadershipIanRStuart
The document provides a summary of the candidate's career history and credentials. Some key points:
1) The candidate has over 30 years of experience in senior finance roles including CFO positions at large insurance and banking companies.
2) Their experience spans industries including insurance, banking, healthcare, and startups. They have a strong background in insurance.
3) Throughout their career, they have created value by improving profitability, growing revenue, managing risks, and executing M&A transactions.
4) Examples highlighted include turning around a life insurance business and improving performance at various banks and companies.
Manulife reported its financial results for the fourth quarter and full year of 2012. Some key highlights include:
- Core earnings of $537 million for Q4 2012 and $2.2 billion for the full year of 2012, in line with 2011 results.
- Record insurance sales of $3.3 billion for 2012, a 33% increase over 2011, driven by strong growth in Asia. Wealth sales also increased with Q4 2012 sales reaching $10.4 billion, up 31% from Q4 2011.
- Net income attributed to shareholders was $1.057 billion for Q4 2012 and $1.736 billion for the full year, up significantly from 2011 results.
So
1) Shareholder value is a key measure for evaluating banks and assumes greater importance in today's dynamic economic environment. It provides a clear quantification of an organization's value within current financial reporting standards.
2) Banking CFOs need efficient enterprise performance management (EPM) systems to gain a holistic understanding of financial valuations, profitability, cash flows, and make future projections. This allows them to actively participate in strategic planning and forecasting to consistently create shareholder value.
3) An effective EPM system requires access to accurate enterprise-wide data on financial instruments, macroeconomic indicators, and risk factors. It also needs quantitative modeling capabilities and controls to simulate scenarios and optimize financial projections and regulatory capital
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
Third Point Reinsurance provides the following key information:
1) It is a Bermuda-based specialty property and casualty reinsurer with an A- rating from A.M. Best and a total return business model designed to deliver superior returns through flexible underwriting and superior investment management by Third Point LLC.
2) It has experienced strong growth since inception in 2012 as shown by a 40.6% increase in diluted book value per share and maintains a diversified premium base across business lines and geographies.
3) It takes a flexible and opportunistic approach to underwriting and leverages relationships to access attractive opportunities while maintaining a focus on risk management and controlling its exposure.
This document discusses Ecolab's financial performance in 2000. Key points include:
- Net sales reached nearly $2.3 billion, a 9% increase over 1999, due to business acquisitions, new products, and growth in core businesses.
- Operating income was a record $343 million. Excluding unusual items, operating income rose 12% to $324 million, or 14.3% of net sales.
- Net income was $206 million. Excluding unusual items, net income increased 13% to $198 million, or 8.7% of net sales, reflecting strong operating income growth and a lower tax rate.
- The company continued its trend of strong financial results and
constellation energy Q3 2006 Earnings Presentationfinance12
- Constellation Energy terminated its planned merger with FPL Group due to risks and uncertainties in Maryland that made completion of the merger unlikely.
- For Q3 2006, Constellation Energy reported adjusted EPS of $1.56, above guidance of $1.10-$1.25. The BGE segment performed in line with expectations while the Merchant segment exceeded guidance.
- Constellation Energy announced the sale of gas-fired generation plants for $1.635 billion, which will reduce debt and position the company for continued earnings growth through 2008.
- The bank reported a 2% year-over-year decrease in net income for Q2 2015 to $20.2 million, driven by higher credit provisions and lower fees. Net income for the first six months of 2015 increased 11% to $49.1 million.
- Net interest income grew 7% for the first six months due to a 6% increase in average loan balances. However, net interest margin declined slightly to 1.79% for Q2 2015 due to pressure on lending margins.
- The commercial loan portfolio balance increased 7% year-over-year to $7.4 billion as of the end of Q2 2015. Credit quality remained strong with non-accruing loans at
The Non-Core Division aims to maximize shareholder value through the managed rundown and disposal of non-strategic assets, with the objectives of accelerating the reduction of capital and funding requirements, maximizing cost reductions, and protecting the Core RBS franchise to allow management to focus on continuing businesses. The Division considers exit options such as selling assets now or later, or closing or restructuring businesses, to optimize the timing, cost, and method of reducing its portfolio.
Ian R. Stuart - Career History, Accomplishments, LeadershipIanRStuart
The document provides a summary of the candidate's career history and credentials. Some key points:
1) The candidate has over 30 years of experience in senior finance roles including CFO positions at large insurance and banking companies.
2) Their experience spans industries including insurance, banking, healthcare, and startups. They have a strong background in insurance.
3) Throughout their career, they have created value by improving profitability, growing revenue, managing risks, and executing M&A transactions.
4) Examples highlighted include turning around a life insurance business and improving performance at various banks and companies.
Manulife reported its financial results for the fourth quarter and full year of 2012. Some key highlights include:
- Core earnings of $537 million for Q4 2012 and $2.2 billion for the full year of 2012, in line with 2011 results.
- Record insurance sales of $3.3 billion for 2012, a 33% increase over 2011, driven by strong growth in Asia. Wealth sales also increased with Q4 2012 sales reaching $10.4 billion, up 31% from Q4 2011.
- Net income attributed to shareholders was $1.057 billion for Q4 2012 and $1.736 billion for the full year, up significantly from 2011 results.
So
1) Shareholder value is a key measure for evaluating banks and assumes greater importance in today's dynamic economic environment. It provides a clear quantification of an organization's value within current financial reporting standards.
2) Banking CFOs need efficient enterprise performance management (EPM) systems to gain a holistic understanding of financial valuations, profitability, cash flows, and make future projections. This allows them to actively participate in strategic planning and forecasting to consistently create shareholder value.
3) An effective EPM system requires access to accurate enterprise-wide data on financial instruments, macroeconomic indicators, and risk factors. It also needs quantitative modeling capabilities and controls to simulate scenarios and optimize financial projections and regulatory capital
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
Third Point Reinsurance provides the following key information:
1) It is a Bermuda-based specialty property and casualty reinsurer with an A- rating from A.M. Best and a total return business model designed to deliver superior returns through flexible underwriting and superior investment management by Third Point LLC.
2) It has experienced strong growth since inception in 2012 as shown by a 40.6% increase in diluted book value per share and maintains a diversified premium base across business lines and geographies.
3) It takes a flexible and opportunistic approach to underwriting and leverages relationships to access attractive opportunities while maintaining a focus on risk management and controlling its exposure.
This document discusses Ecolab's financial performance in 2000. Key points include:
- Net sales reached nearly $2.3 billion, a 9% increase over 1999, due to business acquisitions, new products, and growth in core businesses.
- Operating income was a record $343 million. Excluding unusual items, operating income rose 12% to $324 million, or 14.3% of net sales.
- Net income was $206 million. Excluding unusual items, net income increased 13% to $198 million, or 8.7% of net sales, reflecting strong operating income growth and a lower tax rate.
- The company continued its trend of strong financial results and
constellation energy Q3 2006 Earnings Presentationfinance12
- Constellation Energy terminated its planned merger with FPL Group due to risks and uncertainties in Maryland that made completion of the merger unlikely.
- For Q3 2006, Constellation Energy reported adjusted EPS of $1.56, above guidance of $1.10-$1.25. The BGE segment performed in line with expectations while the Merchant segment exceeded guidance.
- Constellation Energy announced the sale of gas-fired generation plants for $1.635 billion, which will reduce debt and position the company for continued earnings growth through 2008.
- The bank reported a 2% year-over-year decrease in net income for Q2 2015 to $20.2 million, driven by higher credit provisions and lower fees. Net income for the first six months of 2015 increased 11% to $49.1 million.
- Net interest income grew 7% for the first six months due to a 6% increase in average loan balances. However, net interest margin declined slightly to 1.79% for Q2 2015 due to pressure on lending margins.
- The commercial loan portfolio balance increased 7% year-over-year to $7.4 billion as of the end of Q2 2015. Credit quality remained strong with non-accruing loans at
The document summarizes Banco Latinoamericano de Comercio Exterior, S.A.'s (Bladex) unaudited financial results for the year ended December 31, 2015. Key highlights include:
- Net income increased 2% year-over-year to $104 million, driven by higher revenues and lower expenses partially offset by higher credit loss provisions.
- Business net income, which excludes non-core gains/losses, was flat at $99 million year-over-year.
- The commercial loan portfolio grew 3% to $7.2 billion, with growth focused in Central America and the Caribbean.
- Credit quality remained strong with non-performing loans covered
- The document discusses Aimia's Q1 2016 highlights and financial results. It provides forward-looking statements and cautions that actual results may differ materially from expectations.
- Gross billings decreased 3.7% to $573.0 million due to lost contracts, lower reward fulfillment activity, and wind downs, partially offset by new client wins. Adjusted EBITDA was $50.6 million.
- Key highlights included stability in Aeroplan's financial cards business, a new ISS win with Aeon Retail, and progress on Aimia's operating cost reduction initiatives.
BMC reported strong third quarter 2018 results, with net sales growth of 12.4% driven by increases in structural components and millwork, doors, and windows. Adjusted EBITDA grew 25.4% to $74.4 million due to higher prices absorbing costs and SG&A leverage. For full year 2018, BMC estimates net sales of $3.65-$3.73 billion and Adjusted EBITDA of $246-$254 million, reflecting continued growth and margin expansion.
This document provides a summary of BMC Stock Holdings' third quarter 2018 earnings presentation. It discusses forward-looking statements regarding sales growth, earnings performance, and strategic direction. It also notes important risk factors that could impact actual results, such as economic conditions, industry pressures, commodity prices, and legal claims. Finally, it provides context on BMC's merger history and defines non-GAAP financial measures used in the presentation to analyze trends, performance, and for planning purposes.
- Foreign Trade Bank of Latin America (BLADEX) focuses on fostering growth in Latin America through trade finance and supporting regional economic integration.
- It has a unique ownership structure involving 23 Latin American governments and is the first Latin American bank listed on the NYSE.
- BLADEX provides trade finance, lending facilities, and structured funding to financial institutions and corporations across Latin America with the goal of supporting investment and regional integration.
The document provides an earnings summary and outlook for Bladex for 4Q16 and full year 2016. Key highlights include:
- Net interest income grew 7% in 2016 due to higher net lending rates despite lower average portfolio balances.
- Provisions increased due to higher expected credit losses on certain exposures.
- Operating expenses declined due to lower variable compensation and cost savings.
- Bladex expects portfolio growth of around 10% in 2017 with continued diversification and cost control remaining priorities.
Aviva's interim results showed an 11% increase in operating profit to £1,465 million. Key drivers of growth included strong performances in the UK, Europe, and Aviva Investors. The Solvency II capital ratio remained robust at 193%. Cash remittances increased 56% to £1,170 million and the interim dividend was raised 13% to 8.40 pence per share.
- The bank reported business net income of $78.0 million for 9M15, a 7% increase over the same period last year, driven by a 5% increase in net interest income from higher loan balances.
- Net income was $82.7 million for 9M15, a 17% increase over 9M14, which includes non-core income from participation in investment funds.
- Asset quality remains strong, with non-accrual loans representing only 0.31% of the total loan portfolio and reserves covering non-accrual loans 4.5 times.
The document discusses key considerations for Nigerian banks going forward, including customer segmentation, corporate governance, and risk management. It recommends that banks clearly segment their customers to better understand who their core customers are. It also stresses the importance of strong corporate governance, with boards holding executives accountable. Adopting an integrated approach to governance, risk management, and compliance is suggested. Regarding risk management, the document notes failures led to massive loan losses, and banks must revisit this core strategy element.
Bladex is a trade finance bank focused on Latin America that has operated since 1979. It has a unique shareholding structure of 23 Latin American governments. The presentation discusses Bladex's business model, which focuses on trade finance throughout the trade value chain in Latin America. It also covers Bladex's financial performance, liquidity management, portfolio management, and growth opportunities. Bladex aims to provide financial solutions and support regional economic integration in Latin America.
This presentation summarizes the Bank's financial performance for the first quarter of 2015. Key highlights include:
- Net income of $28.8 million, up 23% year-over-year due to higher net interest income and lower operating expenses.
- Net interest margin of 1.84%, up 5 basis points year-over-year from higher loan balances and lower funding costs.
- Commercial portfolio balances of $7.1 billion, up 7% year-over-year, though down 1% quarter-over-quarter.
- Non-accrual portfolio increased to $20.8 million with additional specific reserves of $1.6 million.
- Operating expenses decreased 3% year-
SunTrust at Merrill Lynch Banking & Financial Services Conferencefinance20
1) The document discusses SunTrust's diversified franchise including meaningful consumer and commercial platforms across a diverse geographic footprint and significant fee-oriented activities.
2) Capital ratios have strengthened with Tier 1 at 8.15% and total at 11.16%. SunTrust further reduced its risk profile and strengthened capital through various actions.
3) SunTrust has a stable funding and liquidity position with deposits funding 66% of assets and no holding company debt maturing until 2009. The credit profile is diversified with commercial and commercial real estate loans comprising 43% of the portfolio.
1) The document is a fixed income presentation from December 10-12, 2008 that discusses SunTrust Banks, Inc.'s investment thesis, strategic initiatives, diversified franchise, and solid capital structure and balance sheet.
2) It highlights SunTrust's stable base of operations, strategic initiatives for growth, diversified franchise across consumer and commercial platforms and geographies, and strengthened capital ratios and balance sheet positioning.
3) Key metrics discussed include total assets of $174.8 billion, long term credit ratings of A+/A1/A+, equity market capitalization over $10.5 billion, and proactive steps taken to reduce risk and improve capital levels.
BMC reported financial results for Q4 2017 that included 12.5% sales growth and improved adjusted EBITDA. Key highlights included strong growth in structural components sales, success of the Ready-Frame business, and cost savings from synergies after the 2015 merger. BMC also outlined its strategic priorities and outlook, which focus on organic growth through customer service leadership and value-added products, as well as pursuing strategic expansion through acquisitions.
Q2 2018 earnings call presentation as of 07 28-18 510 pmbmcstockholdings
BMC reported strong second quarter 2018 results, with net income growing $22.8 million to $40.4 million. Adjusted EBITDA was up $19.3 million to $78.8 million. The company saw growth in value-added components and improved profitability. BMC also highlighted strategic priorities around organic growth, operational excellence, building culture, and strategic expansion.
10th annual best of uncovered 2015, singular research (los angeles, californi...Bladex
This presentation provides an overview of Bladex, a Latin American trade finance bank. Some key points:
- Bladex has over 35 years of experience in trade finance and is rated investment grade by Moody's, Fitch, and S&P.
- It has a unique shareholder structure of 23 Latin American central banks and financial institutions.
- Bladex focuses on providing trade finance and related services to corporations and financial institutions across Latin America.
- It maintains a conservative risk profile and strong asset quality, with non-performing loans at just 0.06% of its commercial portfolio.
May investor presentation earnings only 05 07-18 440 pmbmcstockholdings
BMC reported strong financial results in the first quarter of 2018, with net income growing $11.6 million to $15.4 million compared to the first quarter of 2017. Adjusted EBITDA increased $13.6 million to $47.2 million, driven by a 10.1% increase in total net sales. Gross profit dollars and margins improved due to a focus on value-added components and operational excellence initiatives. Management remains focused on unlocking productivity and efficiency to continue delivering profitable growth.
The bank reported financial results for the first quarter of 2016, with business profit increasing 11% quarter-over-quarter and 2% year-over-year. Net profit increased 1% quarter-over-quarter but decreased 22% year-over-year due to negative non-core results from investment funds. Higher interest rates increased net interest income and margins. Credit quality remained stable with non-performing loans at 0.43% and allowance coverage of 3.4 times non-performing loans. Operating expenses decreased while efficiency ratios improved. Return on equity decreased from prior periods due to non-core investment fund results.
TCF Financial Corporation provided an earnings presentation for the second quarter of 2020. The presentation discussed progress on integrating legacy Chemical and TCF systems, with key integration activities completed on schedule. Second quarter results were impacted by merger and integration expenses as well as the economic effects of the COVID-19 pandemic, though the company remains well-capitalized with strong liquidity and credit performance. Management also noted that Paycheck Protection Program lending totaled $1.9 billion during the quarter.
Mark Wilson, Group Chief Executive Officer, said:
“In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva’s turnaround.
“We have achieved profit after tax of £776 million, in contrast to the £624 million loss last year. Cash flows to the Group have increased by 30% to £573 million. Our key measure of sales – value of new business – has increased 17%, driven by the UK, France, Poland, Turkey and Asia.
“Although these results continue the positive trends of the first quarter, tackling our legacy issues will take time.
“I am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva.”
The document summarizes Banco Latinoamericano de Comercio Exterior, S.A.'s (Bladex) unaudited financial results for the year ended December 31, 2015. Key highlights include:
- Net income increased 2% year-over-year to $104 million, driven by higher revenues and lower expenses partially offset by higher credit loss provisions.
- Business net income, which excludes non-core gains/losses, was flat at $99 million year-over-year.
- The commercial loan portfolio grew 3% to $7.2 billion, with growth focused in Central America and the Caribbean.
- Credit quality remained strong with non-performing loans covered
- The document discusses Aimia's Q1 2016 highlights and financial results. It provides forward-looking statements and cautions that actual results may differ materially from expectations.
- Gross billings decreased 3.7% to $573.0 million due to lost contracts, lower reward fulfillment activity, and wind downs, partially offset by new client wins. Adjusted EBITDA was $50.6 million.
- Key highlights included stability in Aeroplan's financial cards business, a new ISS win with Aeon Retail, and progress on Aimia's operating cost reduction initiatives.
BMC reported strong third quarter 2018 results, with net sales growth of 12.4% driven by increases in structural components and millwork, doors, and windows. Adjusted EBITDA grew 25.4% to $74.4 million due to higher prices absorbing costs and SG&A leverage. For full year 2018, BMC estimates net sales of $3.65-$3.73 billion and Adjusted EBITDA of $246-$254 million, reflecting continued growth and margin expansion.
This document provides a summary of BMC Stock Holdings' third quarter 2018 earnings presentation. It discusses forward-looking statements regarding sales growth, earnings performance, and strategic direction. It also notes important risk factors that could impact actual results, such as economic conditions, industry pressures, commodity prices, and legal claims. Finally, it provides context on BMC's merger history and defines non-GAAP financial measures used in the presentation to analyze trends, performance, and for planning purposes.
- Foreign Trade Bank of Latin America (BLADEX) focuses on fostering growth in Latin America through trade finance and supporting regional economic integration.
- It has a unique ownership structure involving 23 Latin American governments and is the first Latin American bank listed on the NYSE.
- BLADEX provides trade finance, lending facilities, and structured funding to financial institutions and corporations across Latin America with the goal of supporting investment and regional integration.
The document provides an earnings summary and outlook for Bladex for 4Q16 and full year 2016. Key highlights include:
- Net interest income grew 7% in 2016 due to higher net lending rates despite lower average portfolio balances.
- Provisions increased due to higher expected credit losses on certain exposures.
- Operating expenses declined due to lower variable compensation and cost savings.
- Bladex expects portfolio growth of around 10% in 2017 with continued diversification and cost control remaining priorities.
Aviva's interim results showed an 11% increase in operating profit to £1,465 million. Key drivers of growth included strong performances in the UK, Europe, and Aviva Investors. The Solvency II capital ratio remained robust at 193%. Cash remittances increased 56% to £1,170 million and the interim dividend was raised 13% to 8.40 pence per share.
- The bank reported business net income of $78.0 million for 9M15, a 7% increase over the same period last year, driven by a 5% increase in net interest income from higher loan balances.
- Net income was $82.7 million for 9M15, a 17% increase over 9M14, which includes non-core income from participation in investment funds.
- Asset quality remains strong, with non-accrual loans representing only 0.31% of the total loan portfolio and reserves covering non-accrual loans 4.5 times.
The document discusses key considerations for Nigerian banks going forward, including customer segmentation, corporate governance, and risk management. It recommends that banks clearly segment their customers to better understand who their core customers are. It also stresses the importance of strong corporate governance, with boards holding executives accountable. Adopting an integrated approach to governance, risk management, and compliance is suggested. Regarding risk management, the document notes failures led to massive loan losses, and banks must revisit this core strategy element.
Bladex is a trade finance bank focused on Latin America that has operated since 1979. It has a unique shareholding structure of 23 Latin American governments. The presentation discusses Bladex's business model, which focuses on trade finance throughout the trade value chain in Latin America. It also covers Bladex's financial performance, liquidity management, portfolio management, and growth opportunities. Bladex aims to provide financial solutions and support regional economic integration in Latin America.
This presentation summarizes the Bank's financial performance for the first quarter of 2015. Key highlights include:
- Net income of $28.8 million, up 23% year-over-year due to higher net interest income and lower operating expenses.
- Net interest margin of 1.84%, up 5 basis points year-over-year from higher loan balances and lower funding costs.
- Commercial portfolio balances of $7.1 billion, up 7% year-over-year, though down 1% quarter-over-quarter.
- Non-accrual portfolio increased to $20.8 million with additional specific reserves of $1.6 million.
- Operating expenses decreased 3% year-
SunTrust at Merrill Lynch Banking & Financial Services Conferencefinance20
1) The document discusses SunTrust's diversified franchise including meaningful consumer and commercial platforms across a diverse geographic footprint and significant fee-oriented activities.
2) Capital ratios have strengthened with Tier 1 at 8.15% and total at 11.16%. SunTrust further reduced its risk profile and strengthened capital through various actions.
3) SunTrust has a stable funding and liquidity position with deposits funding 66% of assets and no holding company debt maturing until 2009. The credit profile is diversified with commercial and commercial real estate loans comprising 43% of the portfolio.
1) The document is a fixed income presentation from December 10-12, 2008 that discusses SunTrust Banks, Inc.'s investment thesis, strategic initiatives, diversified franchise, and solid capital structure and balance sheet.
2) It highlights SunTrust's stable base of operations, strategic initiatives for growth, diversified franchise across consumer and commercial platforms and geographies, and strengthened capital ratios and balance sheet positioning.
3) Key metrics discussed include total assets of $174.8 billion, long term credit ratings of A+/A1/A+, equity market capitalization over $10.5 billion, and proactive steps taken to reduce risk and improve capital levels.
BMC reported financial results for Q4 2017 that included 12.5% sales growth and improved adjusted EBITDA. Key highlights included strong growth in structural components sales, success of the Ready-Frame business, and cost savings from synergies after the 2015 merger. BMC also outlined its strategic priorities and outlook, which focus on organic growth through customer service leadership and value-added products, as well as pursuing strategic expansion through acquisitions.
Q2 2018 earnings call presentation as of 07 28-18 510 pmbmcstockholdings
BMC reported strong second quarter 2018 results, with net income growing $22.8 million to $40.4 million. Adjusted EBITDA was up $19.3 million to $78.8 million. The company saw growth in value-added components and improved profitability. BMC also highlighted strategic priorities around organic growth, operational excellence, building culture, and strategic expansion.
10th annual best of uncovered 2015, singular research (los angeles, californi...Bladex
This presentation provides an overview of Bladex, a Latin American trade finance bank. Some key points:
- Bladex has over 35 years of experience in trade finance and is rated investment grade by Moody's, Fitch, and S&P.
- It has a unique shareholder structure of 23 Latin American central banks and financial institutions.
- Bladex focuses on providing trade finance and related services to corporations and financial institutions across Latin America.
- It maintains a conservative risk profile and strong asset quality, with non-performing loans at just 0.06% of its commercial portfolio.
May investor presentation earnings only 05 07-18 440 pmbmcstockholdings
BMC reported strong financial results in the first quarter of 2018, with net income growing $11.6 million to $15.4 million compared to the first quarter of 2017. Adjusted EBITDA increased $13.6 million to $47.2 million, driven by a 10.1% increase in total net sales. Gross profit dollars and margins improved due to a focus on value-added components and operational excellence initiatives. Management remains focused on unlocking productivity and efficiency to continue delivering profitable growth.
The bank reported financial results for the first quarter of 2016, with business profit increasing 11% quarter-over-quarter and 2% year-over-year. Net profit increased 1% quarter-over-quarter but decreased 22% year-over-year due to negative non-core results from investment funds. Higher interest rates increased net interest income and margins. Credit quality remained stable with non-performing loans at 0.43% and allowance coverage of 3.4 times non-performing loans. Operating expenses decreased while efficiency ratios improved. Return on equity decreased from prior periods due to non-core investment fund results.
TCF Financial Corporation provided an earnings presentation for the second quarter of 2020. The presentation discussed progress on integrating legacy Chemical and TCF systems, with key integration activities completed on schedule. Second quarter results were impacted by merger and integration expenses as well as the economic effects of the COVID-19 pandemic, though the company remains well-capitalized with strong liquidity and credit performance. Management also noted that Paycheck Protection Program lending totaled $1.9 billion during the quarter.
Mark Wilson, Group Chief Executive Officer, said:
“In the first half we have taken a number of steps to deliver our investment thesis of cash flow and growth. These results show satisfactory progress in Aviva’s turnaround.
“We have achieved profit after tax of £776 million, in contrast to the £624 million loss last year. Cash flows to the Group have increased by 30% to £573 million. Our key measure of sales – value of new business – has increased 17%, driven by the UK, France, Poland, Turkey and Asia.
“Although these results continue the positive trends of the first quarter, tackling our legacy issues will take time.
“I am committed to achieving for investors what we set out to do: turning around the company to unlock the considerable value in Aviva.”
UBS presented its Green Funding Framework and sustainability strategy. Key points include:
- UBS is committed to net zero GHG emissions by 2050 across its business and operations. Intermediate targets will be set for 2025, 2030, and 2035.
- As a founding member of the Net Zero Banking Alliance, UBS aims to support clients' transition to a low-carbon economy through products, services and financing.
- Governance structures like the Corporate Culture and Responsibility Committee oversee UBS's sustainability strategy and efforts around climate, social impact, and responsible business conduct.
The document discusses how universal banks can restore profitability and rebuild capital in response to new regulatory requirements from the Independent Commission on Banking. It identifies four key steps banks need to take: 1) Analyze the implications of ring-fencing requirements to determine their new business model, products, and services; 2) Understand their accurate cost of capital to develop a profitable pricing strategy; 3) Focus on efficiency by managing risk-weighted assets and driving operational realignments; 4) Identify growth opportunities by selecting optimal client, product, and market mixes. Taking these steps will help banks optimize their use of capital and positioning for high performance in the future regulated environment.
The document summarizes an evaluative study of the financial structure of Bangladesh Steel Re-Rolling Mills Limited (BSRM). It analyzes BSRM's financing policies, capital structure using ratio analysis and common size statements, and identifies some problems with the current structure. The study finds that BSRM's capital structure relies heavily on debt relative to equity, it has high leverage and debt ratios, and poor working capital management. It provides recommendations for BSRM to select more effective financing instruments to optimize its capital structure.
Accenture Capital Markets- serving many masters - Top 10 Challenges 2013Karl Meekings
Regulators in multiple jurisdictions have implemented varying regulations in response to the 2009 financial crisis, creating challenges for investment banks operating in multiple countries. The regulations differ between countries in areas like capital requirements, derivatives trading, and separating retail and investment banking. This complex global regulatory landscape, coupled with reshuffling of financial supervisors, requires investment banks to build new relationships and change structures. To effectively manage these regulatory changes, banks must take a holistic view of regulations globally, understand the cumulative impacts, integrate stress testing into decision making, appoint a high-level executive to lead compliance, and automate regulatory processes.
Document Security Systems (DSS) is a multinational company operating businesses focused
on brand protection technology, blockchain security, direct marketing, healthcare, real estate,
and securitized digital assets. Its business model is based on a distribution sharing system in
which shareholders will receive shares in its subsidiaries as DSS strategically spins them out
into IPOs. Its historic business revolves around counterfeit deterrent and authentication
technologies, smart packaging, and consumer product engagement. DSS is led by its seasoned
leaders with decades of industry experience.
SunTrust at BancAnalysts Association of Boston Conferencefinance20
This document provides an overview of SunTrust Bank's presentation at the BancAnalysts Association of Boston Conference on November 7, 2008. It begins with cautionary statements about forward-looking statements and non-GAAP measures. The main points of the presentation are that SunTrust has a stable base of operations that provides a foundation for future growth, and it is pursuing strategic initiatives to improve efficiency and generate revenue growth. SunTrust also has a solid capital structure and balance sheet, with strengthened capital ratios, an attractive dividend, and diversified sources of funding and liquidity.
Masco - Investor Presentation - September 2014Masco_Investors
Masco Corporation announced plans to unlock shareholder value through 1) spinning off its installation and other services businesses to form a new publicly-traded company, 2) reducing corporate expenses, and 3) implementing a share repurchase program of up to $1.2 billion. The spin-off would create two focused companies, with Masco concentrating on branded building products and the new company focusing on installation and distribution services. These initiatives aim to drive improved performance and unlock value for shareholders.
TCF Financial Corporation and Chemical Financial Corporation announced a merger of equals to create a premier Midwest bank called the New TCF. The new bank will have $46 billion in total assets, $6.1 billion market capitalization, and serve 1.5 million retail customers across its Midwest footprint. Management believes the merger combines the strengths of both banks and will accelerate value creation through $180 million in cost savings, a full-scale product offering, continued organic growth, and maintaining a strong risk culture. The new bank aims to drive improved returns through executing on its integration and growth strategies.
Syed Arif Raza has over 25 years of experience in finance, credit, risk management, and collections. He has held leadership positions at Standard Chartered Bank, Grays Leasing Ltd, PIC Leasing, First General Leasing Modaraba, and NDLC-IFC Bank Ltd. Raza has an MBA with a major in accounting and is a Certified Public Accountant and Certified Skill Assessor. He has extensive experience developing credit policies, managing portfolios, and reducing loan losses and bad debts.
DSS Inc. (NYSE American: DSS) is a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. DSS is led by its seasoned leaders with decades of industry experience.
- Bladex reported record credit book size of $8.7 billion in 2Q22, up 3% quarter-over-quarter and 33% year-over-year, driven by implementation of its new strategic plan to substantially expand its customer and product base.
- Net income increased 107% quarter-over-quarter and 63% year-over-year to $23 million in 2Q22, with return on equity expanding to 9.1% due to improved efficiency and net interest income growth.
- Asset quality remained stable with non-performing loans at 0.2% as Bladex shifted more of its portfolio to medium-term loans while preserving sound credit quality.
Credit Suisse Group reported net income of CHF 959 million for Q4 2004 and CHF 5,628 million for full year 2004. Results were impacted by charges related to contingencies from the sale of Winterthur International, a loss on disposal of a minority holding, and severance costs. Private Banking, Corporate & Retail Banking, and Life & Pensions reported strong results. Institutional Securities saw improved performance driven by higher trading results and lower provisions and taxes. Wealth & Asset Management benefited from private equity gains.
Sam Hay has over 10 years of experience in finance, business development, strategy, private equity, and risk management. He has held senior roles at companies such as Novus Partners, Youfolio, and Halaika Group, where he performed tasks like business development, product strategy, investment analysis, and portfolio management. Hay also has experience in risk management from his role at Freddie Mac. He holds a Bachelor of Science in Commerce with concentrations in Finance and Accounting from University of Virginia.
Mark Wilson, Group Chief Executive Officer, said:
“The turnaround at Aviva is intensifying. We have focused the business on ‘cash flow plus growth’ and the benefits are starting to be reflected in our performance. Cash flows to the Group are up 40%, operating expenses are down 7%, operating profit is up 6% and Value of New Business is up 13%. After a £2.9 billion loss after tax last year, Aviva has delivered a £2.2 billion profit.
“Following our exit from a number of low margin, underperforming or non-strategic businesses, Aviva is simpler, more focused and better managed. We have significantly improved our capital surplus, increased our liquidity and have a stronger leadership team.
“Although we have made progress in 2013, I want to guard against complacency. Aviva still has issues to address. Have we made progress? Yes, some. Is it a little faster than anticipated? Probably. Have we unlocked the full potential at Aviva? Not yet.”
The document outlines the agenda for an ARAMARK investor day on May 18, 2005. The agenda includes presentations on creating value, financial overview, marketing strategy, various business segments, international operations, uniforms, and Q&A sessions. It also discusses ARAMARK's financial objectives of 6-8% organic revenue growth, 8-12% operating income growth, and 12-14% EPS growth through initiatives like acquisitions, margin improvement, and cash deployment.
The document discusses the need for integrated balance sheet management in financial institutions. It notes that traditional ALM focusing only on interest rate risk and capital is evolving into dynamic balance sheet management that drives strategic decisions. Future state balance sheet management will fundamentally change operating models, rationalize data/technology, and use enhanced analytics to optimize strategies under multiple constraints. Implementing these changes requires sponsorship from the Board and cross-functional participation across the organization.
Similar to Goldman sachs conference_9june2011 (20)
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
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1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
2. Important information
Certain sections in this presentation contain ‘forward-looking statements’ as that term is defined in the United States Private Securities Litigation Reform Act of 1995, such as statements that include the
words ‘expect’, ‘estimate’, ‘project’, ‘anticipate’, ‘believes’, ‘should’, ‘intend’, ‘plan’, ‘could’, ‘probability’, ‘risk’, ‘Value-at-Risk (VaR)’, ‘target’, ‘goal’, ‘objective’, ‘will’, ‘endeavour’, ‘outlook’, ‘optimistic’, ‘prospects’
and similar expressions or variations on such expressions.
In particular, this presentation includes forward-looking statements relating, but not limited to: the Group’s restructuring plans, capitalisation, portfolios, net interest margin, capital ratios, liquidity, risk
weighted assets, return on equity (ROE), cost:income ratios, leverage and loan:deposit ratios, funding and risk profile; the Group’s future financial performance; the level and extent of future impairments and
write-downs; the protection provided by the Asset Protection Scheme (APS); and the Group’s potential exposures to various types of market risks, such as interest rate risk, foreign exchange rate risk and
commodity and equity price risk. These statements are based on current plans, estimates and projections, and are subject to inherent risks, uncertainties and other factors which could cause actual results to
differ materially from the future results expressed or implied by such forward-looking statements. For example, certain of the market risk disclosures are dependent on choices about key model
characteristics and assumptions and are subject to various limitations. By their nature, certain of the market risk disclosures are only estimates and, as a result, actual future gains and losses could differ
materially from those that have been estimated.
Other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this presentation include, but are not limited to: the full nationalisation of
the Group or other resolution procedures under the Banking Act 2009; the global economy and instability in the global financial markets, and their impact on the financial industry in general and on the Group
in particular; the financial stability of other financial institutions, and the Group’s counterparties and borrowers; the ability to complete restructurings on a timely basis, or at all, including the disposal of certain
Non-Core assets and assets and businesses required as part of the EC State Aid restructuring plan; organisational restructuring; the ability to access sufficient funding to meet liquidity needs; cancellation,
change or withdrawal of, or failure to renew, governmental support schemes; the extent of future write-downs and impairment charges caused by depressed asset valuations; the inability to hedge certain
risks economically; costs or exposures borne by the Group arising out of the origination or sale of mortgages or mortgage-backed securities in the United States; the value and effectiveness of any credit
protection purchased by the Group; unanticipated turbulence in interest rates, yield curves, foreign currency exchange rates, credit spreads, bond prices, commodity prices and equity prices; changes in the
credit ratings of the Group; ineffective management of capital or changes to capital adequacy or liquidity requirements; changes to the valuation of financial instruments recorded at fair value; competition
and consolidation in the banking sector; HM Treasury exercising influence over the operations of the Group; the ability of the Group to attract or retain senior management or other key employees; regulatory
or legal changes (including those requiring any restructuring of the Group’s operations) in the United Kingdom, the United States and other countries in which the Group operates or a change in United
Kingdom Government policy; changes to regulatory requirements relating to capital and liquidity; changes to the monetary and interest rate policies of the Bank of England, the Board of Governors of the
Federal Reserve System and other G7 central banks; impairments of goodwill; pension fund shortfalls; litigation and regulatory investigations; general operational risks; insurance claims; reputational risk;
general geopolitical and economic conditions in the UK and in other countries in which the Group has significant business activities or investments, including the United States; the ability to achieve revenue
benefits and cost savings from the integration of certain of RBS Holdings N.V.’s (formerly ABN AMRO Holding N.V.) businesses and assets; changes in UK and foreign laws, regulations, accounting
standards and taxes, including changes in regulatory capital regulations and liquidity requirements; the recommendations made by the UK Independent Commission on Banking and their potential
implications; the participation of the Group in the APS and the effect of the APS on the Group’s financial and capital position; the ability to access the contingent capital arrangements with HM Treasury; the
conversion of the B Shares in accordance with their terms; limitations on, or additional requirements imposed on, the Group’s activities as a result of HM Treasury’s investment in the Group; and the success
of the Group in managing the risks involved in the foregoing.
The forward-looking statements contained in this presentation speak only as of the date of this announcement, and the Group does not undertake to update any forward-looking statement to reflect events or
circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The information, statements and opinions contained in this presentation do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of any offer to buy any securities or
financial instruments or any advice or recommendation with respect to such securities or other financial instruments.
2
3. What we are aiming for
To be amongst the world’s most admired, valuable and stable universal banks,
powered by market-leading businesses in large customer-driven markets
To target 15%+ sustainable RoE, from a stable AA category risk profile and balance
sheet
Well balanced business mix to produce an attractive blend of profitability and moderate
but sustainable growth – anchored in the UK and in retail and commercial banking
with strong customer driven wholesale banking. Credible presence and growth
prospects geographically and by business line
Management hallmarks to include an open, investor-friendly approach, strategic
discipline and proven execution effectiveness, strong risk management and a
central focus on the customer
3
4. How we will get there
Core Bank Non-Core Bank
The focus for sustainable value creation The primary driver of risk reduction
Built around customer-driven franchises Businesses that do not meet our Strategic
Tests, including both stressed and non-stressed
Comprehensive business restructuring
assets
Substantial efficiency and resource changes
Radical financial restructuring
Adapting to future banking climate (regulation,
Route to balance sheet and funding strength
liquidity etc)
Reduction of management stretch
Cross-cutting Initiatives
Strategic change from “pursuit of growth”, to “sustainability, stability and customer focus”
Culture and management change
Fundamental risk “revolution” (macro, concentrations, management, governance)
Asset Protection Scheme (2012 target for exit)
4
5. 2010 / 2011 – Executing the plan
2012 onwards
2009 2010/2011
Core profits build, Non-Core losses fall Target >15% ROE
Formation of the Strategic Plan Execution and implementation phase Ongoing revenue and cost
of the plan initiatives
Creation of Non-Core
Investment in Core franchises Completion of Non-Core run-down
£2.5bn cost saving programme
and APS exit
announced ‘Roll up our sleeves’
2013 targets achieved
Business restructuring and Economic recovery takes hold
reinvestment – Returns
Improvement in underlying Core
New Management and Board performance – Risk
APS entered into and – Franchise
Recapitalisation completed
‘Tools for the job’ in place
5
6. Core Bank – a sustainable & balanced design
A complementary group of businesses…. … well balanced by business mix and geography
1
FY10 Core revenues by Division
Retail &
Commercial
Global
Retail
UK Retail Global Corporate UK Retail
Customers
Banking Clients 22%
UK Corporate & Markets
Deposits Governments
Wealth
Financial
SMEs GBM
Institutions
Ulster Bank 32%
Domestic Market
Corporate US R&C GTS Funding
Retail &
Commercial
… with shared infrastructure… 68%
UK
Shared vendor management & purchasing Corporate
16%
Ulster 4%
Shared property management
Shared technology (e.g. systems, data centres) Wealth 4%
US R&C 12%
Shared operations (e.g. customer centres, processing) GTS 10%
Internationally operating
Shared branches R&C business 30%
Ulster Wealth UK UK
Citizens GTS GBM
Bank Retail Corporate
1 Excluding Fair Value of Own Debt (FVoD), excluding RBS Insurance.
6
7. Tracking Well to Plan Targets
Group – Key performance indicators Worst point Q4 10 Actual Q1 11 Actual 2013 Target
1
Loan : deposit ratio (net of provisions) 154% 117% 115% c100%
2 3
Short-term wholesale funding £343bn £157bn £168bn <£150bn
4 3
Liquidity portfolio £90bn £155bn £151bn c£150bn
5 6
Leverage ratio 28.7x 16.8x 17.4x <20x
7 15
Core Tier 1 Capital ratio 4% 10.7% 11.2% >8%
8 9,10 9,10
Return on Equity (RoE) (31%) Core 12% Core 15% Core >15%
12 11 10 10
Cost : income ratio 97% Core 58% Core 56% Core <50%
Divisions – Key performance indicators Worst point Q4 10 Actual Q1 11 Actual 2013 Target
Retail & Commercial:
13
RoE 7% 11% 11% >20%
12 13
Cost : income ratio 60% 54% 55% c45%
14 3
Loan : deposit ratio 99% 86% 87% <90%
GBM:
3
RoE (9%) 10% 21% >15%
12 3
Cost : income ratio 169% 67% 55% c.55%
Non-Core:
3
Third Party Assets £258bn £138bn £125bn £20-40bn
1 As at October 2008 2Amount of unsecured wholesale funding under 1 year including bank deposits <1 year. 3 As of December 2008 4 Eligible assets held for contingent liquidity purposes including cash,
government issued securities and other securities eligible with central banks. 5 Funded tangible assets divided by Tier 1 Capital. 6 As of June 2008 7 As of 1 January 2008. 8 Group return on tangible
equity for 2008 9 Indicative: Core attributable profit taxed at 28% on attributable core average tangible equity (c75% of Group tangible equity based on RWAs). 10 Excluding fair value of own debt (FVoD).
11 2008. 12 Adjusted cost:income ratio net of insurance claims. 13 As of December 2009. 14 Net of provisions. 15 Under review. 7
10. Non-Core Division management
A highly experienced management team in place
Support functions
Nathan Bostock
Christine Palmer John Collins
Head of Restructuring & Risk
30 years in the industry
CRO Legal
23 years in the industry 21 years in the industry
Nick Perkins Maeve Byrne
COO CFO
Jeremy Bennett Rory Cullinan 18 years in the industry 12 years in the industry
Senior Advisor Head of Non-Core Division Wendela Currie Carolyn McAdam
19 yrs in the industry 30 years in the industry HR Communications
5 years in the industry 10 years in the industry
Phil McDuell Alan Devine Mark Bailie
Chris Marks
Head of Non-Core Head of Portfolio & Chris Marks
Co-Head of Markets
Countries 17 yrs in the industry Banking Co-Heads of Solutions
24 years in the industry 34 years in the industry 16/17 yrs in the industry
Non-Core Countries Exotic credit derivatives Real Estate
Monolines and ABS Leveraged Finance
Infrastructure & Asset
Other Non-Core trading
Finance
Corporate & Structured
Assets
- UK Corp. Banking
- Ulster
- UK Retail
- Citizens 10
11. Non-Core - from definition to delivery
Definition Delivery
2009 2010 2011
Select assets Build detailed data on assets Detailed asset model
Management
Build transaction infrastructure Specialist resource gaps filled
in place
Communicate Determined priorities and built
Formulate strategy
to stakeholders stakeholder support
Fast execution to preserve value
Sell countries & businesses
and reduce risk
Combined with aggressive run-
Asset disposals build momentum
off
11
12. Objectives of the Division
Achieving run down while maximising shareholder value
Maximise Shareholder Value
Maximise shareholder value
Viable whole Sell now
Optimise timing, cost and method of businesses
exit
Sell later
Accelerate reduction of capital and
funding
Maximise reduction in the RBS
Exit Options
Group cost base
Close Now
Protect the Core RBS franchise
Discontinued Securitise/
Free Core business management to businesses/ Restructure/
focus on continuing businesses portfolios Hedge/Sell
Preserve Core client relationships with Hold to
some assets Non-Core maturity
Rebalance risk profile
12
13. Non-Core targets and progress to date
Non-Core TPA reduction plan – accelerated for 2011
£bn
2009-13 2009-Q111
Undrawn commitments TPAs (excl. derivs)
FX (10)-(20) (8)
85
Rollovers &
drawings 20-30 13
36 £118bn original 2011 funded target
(133) 2
25 Impairments (20)-(30) (16)
21
258 18
201 15 Asset sales (90)-(100) (51)
(85)-(125)
143 138 125
96 8
20-40 Run-off (110)-(130) (71)
2008 2009 2010 2010 Q1 2011 FY 2011 2013
Target Progress to date
Target Actual
FY08 TPAs Q111 TPAs
Other Other
Retail 4% 2% Total portfolio down 52% from FY08
Retail
8%
£9bn Corporate 6%
£2bn Corporate reflecting:
£21bn £8bn
Markets 13% — £56bn (50%) in Corporate
Markets 18% Total £16bn Total
43% 45%
Assets
£47bn Assets £112bn £56bn — £31bn (66%) reduction in Markets
= =
4
£258bn 31% £125bn
— £24bn (38%) reduction in CRE
24% £39bn
Commercial £63bn 3% — £13bn (62%) reduction in Retail
2% Commercial
Real Estate3 Real Estate £3bn SME
£6bn SME
1 Previous target for funded assets for 2011 was £118bn. 2 Excludes FY08 impairments of £4.9bn. 3 Excludes Ulster Bank CRE portfolio of £5.0bn (value as at 31/06/10), transferred to Non-
Core on 1st July 2010. 4 43% adjusted for transfer of Ulster Bank CRE portfolio. 13
14. Asset reduction progress
£bn, TPAs excl. derivatives
Disposals H1 H2 Signed but not
Run-off H1 H2 FY 2010 Q1 2011 completed at Q1
International Businesses &
Portfolios
3.5 2.0 5.5 0.0 0.6
“24 businesses & countries
completed/agreed”
2.9 6.4 9.3 4.4
4.8 7.6 12.4 2.4 2.1
Portfolio & Banking
“Over 500 transactions in 2010” 17.4
12.3 5.1 2.5
Markets 1.3 8.1 9.4 0.0 0
“Removed or sold more than
900 line items” 1.8 1.2 3.0 1.0
Directly Managed 0.1 6.1 6.2 2.3 3.9
“Over half of Sempra disposed
in 2010” 3.2 3.2 -0.6
9.7 23.8 33.5 4.7 6.5
Total
20.2 12.7 32.9 7.3
Note: Run-off excludes change controls, fair value and other movements 14
15. Impairment trends
Cumulative impairments by division Cumulative impairments by sector
£bn Cumulative Charge As a % of FY08 L&A £bn Cumulative Charge As a % of FY08 L&A 2
20%
25 35% 25 20%
1 1
30% 21.0 21.0 18%
30%
20 20 15% 16%
14%
25% 14%
15 15 12%
20% 11%
17% 8% 10%
9.2 15% 10% 9.7
10 10 8%
11%
8% 10% 6%
5.4 11% 5.6
5 5% 3.1 5 4%
2.7 5% 2.5
1.6 2%
0.2 1.1
0 0% 0 0%
UK Retail US R&C UK Ulster Bank GBM Total Other personal Mortgages Manufacturing Other CRE Total
Corporate Corporate
£21bn cumulative impairments 2008 – Q1 2011
Large Corporate and Retail impairments are trending favourably
Expect Commercial Real Estate impairments to remain elevated, particularly in Ulster Bank
Expect absolute numbers to decline as portfolio declines
1 £15.8bn of impairments have been recognized over the period 1/1/09-31/3/11; balance of £5.2bn reflected in earlier periods. US R&C includes c£300m FY07 impairment charge
relating to its Serviced by others (SBO) mortgage portfolio in addition to its FY08 to Q111 charges.
2 GBM FY08 L&A sector split not available so FY09 L&A used to calculate the impairment charge as a % of L&A.
15
16. Ulster Bank Non-Core Asset Deep Dive
1 2
Ulster Bank – Non-Core gross L&A , £14.8bn, (-6% y-o-y) Ulster Bank – Non-Core REIL, Provisions & Coverage
REIL & Total coverage 47% Coverage, %
CRE: Provisions, £bn
Other £2.0bn 64% RoI
13% 27% NI 46% 43% 55%
10% UK
85%
Q111
CRE - Investment L&A CRE - 7.6
£3.9bn, 27% £14.8bn Development
£8.9bn, 60% 62%
3.5 60%
2.4 0.7
1.1 1.2
CRE - Development CRE - Investment Other
REIL (£bn/%) Provision (£bn)
Provisioning levels significantly strengthened at 47%
‘In the pack’ on provision coverage vs peers
Expect impairments to remain elevated in 2011
1 Excludes EMEA L&A of £0.5bn. 2 Provisions as a % of REIL. 3 Includes Core CRE Development lending REIL of £210m and provisions of £99m.
16
17. Non-Core run-off vs. disposal
Run-off is:
Assets at inception: − The biggest contributor to run-down
£258bn*
− More capital efficient and cheaper in valuation and
execution costs than market disposals
But cannot be taken for granted – it requires a focused and
systematic approach and plenty of forward planning for us and
Run-off clients
45-50%
Run-off
50-55%
Stay close to clients – as their circumstances change,
Impairments opportunities arise to exit earlier or more cheaply
10-15%
Robust approach essential where clients push for haircuts on
repayment
Disposals /
closures Rigorous resistance to rollovers remains important as 5-7yr
40-45% maturities need to be re-financed
Residual assets in Active portfolio management is fundamental to
2013: £20-40bn executing the Non-Core strategy successfully
17
Note: Run-off inc. rollovers, drawings and FX movements. * Excludes MTM derivatives
18. Future Non-Core disposals
Potential for increased disposal losses
Indicative profile of Non-Core asset sales to date
120%
Capital Neutral
Progress to date:
Price / Book Value (BV) of TPAs disposed
110%
— FY08-Q111 cumulative
disposals of £51bn
— c£1.6bn2 of disposal
100% losses, split 50/50 above
and below the line
— Average disposal loss of
90% 3%
Future outlook: fall in
impairments as Ireland is fully
covered, partly offset by
80%
higher disposal losses on
more illiquid positions
Bubble size = TPAs
disposed (£1bn as
shown)
70%
Capital destructive Capital accretive
Est. CT1 capital impact 1 / Book Value of TPAs disposed (%)
1 Capital impact = (after-tax losses on sale + (cap rate * RWAs released)). 2 Includes £200m charge for portfolio de-risking in Q111. 18
19. Indicative RWA Impacts under Basel 3
1
RWA impacts
£bn 2
88-100
Non-Core
c40%
45-50
25-30 2 Core
18-20
c60%
CRD3 (Basel CRD4 CRD 4 Total
2.5) (Counterparty Deductions
Risk)
End 2011 Start 2013 2013
Year of impact
Clarification provided from Basel Committee
Uncertainties remain, with a range of potential outcomes
Impacts split between Core and Non-Core
Manageable within context of group
1 Assessment based on current EU proposals. Net of Non-Core run-down, enhancements to internal models and mitigation.
2 Net equivalent change in RWAs after reflecting the impact of the current capital deduction from Core Tier 1. Gross impact is forecast to be c£30-35bn. 19
20. Run-down of Non-Core reduces funding need
Asset reduction lessens market funding requirement
Non-Core reduction reduces reliance
£bn 1
Non-Core Run-down CGS Maturity Target Issuance on wholesale funding
2
70 Term Maturity Issuance Lower requirement for public
unsecured issuance going forward
60
Q111 issuance of £10bn:
50
— 42% private, 58% public
40 — 55% of public deals unsecured,
45% secured
30
CGS term funding outstanding of
20 £40bn, will be fully repaid by July 2012:
— Q411 £18.7bn
10
— Q112 £15.6bn
0
— Q212 £5.7bn
2010 2011 Q1 2011 Q2-Q4 2012 2013
€3bn of Covered Bonds issued in 2011
1 Non-Core third party assets excluding derivatives. 2 Unguaranteed term debt and subordinated liabilities contractual maturity.
20
22. Dynamic Holistic risk agenda model
Macro-Economic Sovereign Rating
Strategy & Policy
Deliver 5 year plan with strong
Risk Architecture risk management Operating Model
AA Category Rating
Risk Appetite &
Framework
Capital Requirements Political & Regulatory
22
26. Maintain Stakeholder Confidence
Stakeholder confidence is about rebuilding and maintaining the trust of our key
stakeholders. Rebuilding our reputation will take time.
In RBS’ case specifically, it is a question of demonstrating that factors contributing to our
outlier risk profile in the past have been adequately addressed. In many cases, this will
need to be clearly demonstrated or ‘proven’ through sustained delivery and/or assurance
testing
Aspects of bank assessment Relevant part of Risk Appetite Framework
Capital adequacy Maintain capital adequacy
Quantitative
Stable earnings Maintain stable earnings
Maintain stable and efficient access to
Market Confidence
Liquidity and funding
liquidity and funding
Maintain stable earnings
Profitability
Franchise value
Qualitative
Management and strategy
Maintain stakeholder confidence
Risk positioning
Regulatory and reputation risks
26
27. Risk envelope - Structural balance sheet
improvements largely done
RBS capital ratios strong with Non-Core reducing Leverage Ratios “in the pack”
Comparative Core Tier 1 Capital Ratios1, % Tier 1 Leverage Ratios6 vs Peer averages %
12 APS benefit
10.7
Ex. APS
1.2 6
8
7.6
10.8 3 5.5 5.9
9.4 9.4 8.9 9.4 4.6
4
3.4
4.0
0 0
RBS Group RBS Group UK Peers 3
Euro-Zone US Peers 5 RBS worst RBS Group UK Peers 3 Euro-Zone US Peers 5
worst Point 2 FY10 Peers 4 point 7 FY10 Peers 4
Loan : Deposit ratio improved Wholesale funding & Liquidity balance achieved
Comparative loan:deposit ratios, % Comparative liquid assets and ST wholesale funding, %
175% 30%
150% 25%
125% 20%
100% 15% 28%
75% 154% 10% 18%
117% 15% 14% 15% 15% 14%
50% 96% 108% 106% 5% 10%
87% 7% 9%
25% 0%
10 12
0% RBS Group RBS Group UK Peers Euro-Zone US Peers
worst Point 9 FY10 Peers 11
RBS Worst RBS Group RBS Core UK Peers 3 Euro-Zone US Peers 5
13 14
Point 8 FY10 FY10 Peers 4 Liquid Assets as % of Funded Assets ST Wholesale Funding as % of Funded Assets
1 As at FY10. 2 As at 1 January 2008. 3 UK Peers consist of Barclays, HSBC, Lloyds Banking Group and Standard Chartered at FY10 4 Euro-Zone Peers consist of Deutsche Bank, Santander, BNP Paribas
at FY10. 5 US Peers consist of Bank of America, Citigroup, JP Morgan and Wells Fargo at FY10. 6 Tier 1 leverage ratio is Tier 1 Capital divided by funded tangible assets. 7 As at FY07. 8 As at October 2008.
9 As at FY08. 10 UK peers consist of Barclays, Lloyds Banking Group and HSBC as at FY10. 11 European peers consist of Deutsche Bank and BNP Paribas as at FY10. 12 US Peers consist of JPMorgan,
Bank of America and Citigroup as at H110. 13 Source: Company Information & RBS Estimates: Liquid assets comprise AFS debt securites and cash, except for RBS, Lloyds & Barclays where company 7
quoted liquidity is used. 14 Source: Company Information & RBS Estimates: Short-term wholesale funding calculated excluding trading liabilities
28. Risk agenda in practise - risk concentration
reduction progressing well
Substantial reduction in REIL growth slowing; Significantly improved provision levels
‘tall-trees’ exposure transfers to work-out slowing in Ulster Bank
Single Name Concentration exposures No. of wholesale cases transferred to Provision coverage of Ulster Bank REILs
over risk appetite1 Recoveries Units globally
# of cases
# cases Provision coverage3
0 100 200 300 400 500
118 £39bn
Institutions
Financial
96 £36bn Q110
-38% 22% +25pp
Ulster Bank -
89 £26bn Non-Core
47%
79 £24bn Q210
Q310
385 £69bn
43%
Corporates
324 £49bn Ulster Bank -
Q410
Core
241 £39bn
-49% 46%
212 £35bn
Q111
0% 25% 50%
0 50 100
Property Manufacturing
Mar-11 Dec-10 Jun-10 Dec-09 Wholesale & Retail Trade Transport & Storage Mar 2011 Dec 2009
2
Construction Other
1 The SNC framework sets graduated appetite levels according to counterparty credit ratings. The chart shows names that are in breach of the framework.
2 Other is spread across a large number of sectors incl TMT, Tourism & Leisure and Business Services.
3 Provisions as a percentage of risk elements in lending (REILs).
28
29. Conclusions
All key Group metrics on or ahead of Plan for this stage of Strategic Plan
Group Momentum
Risk agenda fully embedded and traction gained across the Group
Maintained
March 2011 – S&P upgrade from BBB+ to A-
Non-Core TPAs reduced 52% since inception
Non-Core delivery
On target to be less than 10% of group assets by FY11
ahead of plan
Run-down target accelerated for 2011
Structural balance sheet improvement largely done
Risk Envelope
Significant reduction in risk concentrations
Improving
Major milestones achieved in improving the Group’s risk profile
29
31. Non-Core asset class composition changes
2008 Year-End TPAs (excl. derivs) Q1 2011 TPAs (excl. derivs)
Other Corporate Corporate
Other
RBS Insurance £2.0bn Project & Export Retail Project & Export
Retail Bank of China / Linea Finance £21.3bn RBS Insurance £1.5bn
UK Mortgages & Finance £15.6bn
UK Mortgages & Directa £4.5bn Asset Finance Whole Businesses
Personal Lending Asset Finance
Personal Lending Whole Businesses £0.8bn £24.2bn £1.8bn £0.1bn £18.5bn
£3.2bn Shared Assets and Other Leveraged Finance Shared Assets and Other Leveraged Finance
US Mortgages &
US Mortgages & £1.5bn £15.9bn Personal Lending £0.8bn £6.6bn
Personal Lending Corporate Loans & £5.7bn Corporate Loans &
£11.9bn Securitisations Securitisations
Countries £0.9bn
Ireland Mortgages £41.6bn £13.4bn
£6.5bn
9
21 Asset Management Asset Management
£1.9bn 8 2 £0.9bn
Countries £6.7bn Countries £0.9bn
16
47 Total Total
112 56
Assets = Assets =
£258bn £125bn
39
Markets Markets
Structured Credit
Structured Credit 3
Portfolio £20.1bn
63 6 Portfolio £10.7bn
Equities £0.7bn
Equities £5.0bn
Credit Collateral
Credit Collateral SME SME
Commercial Real Estate Financing £0.1bn Commercial Real Estate
Financing £8.6bn UK SME
UK SME Exotic Credit Trading
Exotic Credit Trading Real Estate Finance £38.7bn £4.2bn Real Estate Finance £22.6bn £2.6bn
£0.1bn
£1.4bn UK B&C £11.4bn UK B&C £5.3bn
US SME Sempra £3.9bn US SME
Sempra £6.3bn Ireland £9.9bn £1.6bn Ireland £9.6bn1
Other Markets £0.8bn £0.5bn
Other Markets £6.2bn US £2.8bn US £1.2bn
1 Affected by the replacement of Irish Mortgages with Irish Commercial Real Estate announced at H1 2010 results. As at 30 June 2010 the CRE portfolio transferred was £5.0bn.
31
32. Update on Ireland – Asset Deep Dive
1
Ulster Bank – Core gross L&A, £37.2bn, (-4% y-o-y) Ulster Bank – Non-Core gross L&A , £14.8bn, (-6% y-o-y)
CRE - Development CRE: CRE:
£1bn, 3% 57% RoI Other £2.0bn 64% RoI
20% NI 13% 27% NI
Corporate – Other 23% UK 10% UK
£8.9bn, 24% Mortgages:
Q111 90% RoI Q111
L&A 10% NI CRE - Investment L&A CRE -
£37.2bn
Mortgages £3.9bn, 27% Development
£14.8bn
CRE – Investment £21.5bn £8.9bn, 60%
£4.3bn, 11% 58%
Personal unsecured
£1.5bn, 4%
2 2
Ulster Bank – Core REIL, Provisions & Coverage Ulster Bank – Non-Core REIL, Provisions & Coverage
“In the pack” on provision coverage vs peers
REIL & Total coverage 46% Coverage, % REIL & Total coverage 47% Coverage, %
Provisions, £bn Provisions, £bn
38% 53% 37% 65% 46% 43% 55%
7.6
1.8
1.7
0.7
0.9 0.3 0.4 3.5
0.8 0.3
2.4 0.7
1.1 1.2
Mortgages Corporate - Other CRE - Investment Personal
CRE - Development CRE - Investment Other
Unsecured & other3
REIL Provision REIL Provision
1 Excludes EMEA L&A of £0.5bn. 2 Provisions as a % of REIL. 3 Includes Core CRE Development lending REIL of £210m and provisions of £99m.
32