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RBS profit £4.23bn, will change name to NatWest

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Christian Fernsby ▼ | February 14, 2020
RBS posted an operating profit before tax of £4.23bn and an attributable profit of £3.13bn.
RBS   Operating profit was 24 per cent higher than last year
Operating profit was 24 per cent higher than last year’s, and beat analyst expectations of £3.8bn.

Topics: RBS NatWest

For the fourth quarter, during which Rose took over, the bank posted an operating profit of £1.16bn and attributable profit of £867m.

The bank paid a net interest margin of 1.99 per cent, down slightly from 2018.

But it boosted basic earnings per share from 13.5p a year ago to 26p for 2019.

Its return on tangible equity also almost doubled from 4.8 per cent to 9.4 per cent.

RBS will pay a final dividend of 3p per share or £362m in total and a 5p special dividend that comes to £606m.

The bank would go carbon net zero in 2020, before aiming to become “climate positive” by 2025 and halve the impact of the bank’s financing activity by 2030.

The Royal Bank of Scotland Group plc is intended to be renamed NatWest Group plc later this year.