Barclays Capital 2010 Global Financial Services Conference
Non-Core run-down & EU Disposals on track
XRBS
Non-Core run-down and EU disposals progressing well, lowers execution risk
Non-Core
TPAS decreased by £84bn to date, reduction on plan
£bn
85
| Un-drawn commitments
Funded assets
36
29
258
29
201
23
174
143
19
118
82
2008
2009
Q210
2010
2011
2012
13
20-40
2013
Targeted
£20bn reduction achieved in Q210
194
(6)
(8)
(1)
(5)
174
Asset disposals
Non-Core asset portfolio run-off/sales on target
-
Ongoing risk reduction - possible H2 acceleration
3 of the 4 EU mandatory disposals announced:
UK SME/Branches: sale process to Santander
announced (c£1.65bn), completion by end 20111
Global Merchant Services: sale process to Advent
International & Bain Capital announced, completion by
end 2010
RBS Sempra: completed partial sale to JP Morgan²,
balance substantially progressed
RBS Insurance disposal: H2 2012 current target for
IPO; may dual track IPO/trade sale
Q110 Run-Off
Asset Impairments
sales
FX
Q210
1 Agreed sale for a premium of £350m to net assets at time of closing. Implied equity is £1.3bn applying an 8.5% Core Tier 1 ratio to RWAs of £15.2bn as at 31 December 2009
2 Sale of Metals, Oil and European Energy business lines agreed on 16th February 2010 and completed 1st July 2010
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