Aug 05 - RBS Reports “Good Lending Growth” In Gibraltar

Written by YGTV Team on 05 August 2016.

RBS International has reported “good lending growth” in Gibraltar as the bank announced it had supported almost as many mortgage customers in the first six months of 2016 as it did throughout the whole of 2015.

The bank has offered 180 mortgages (totalling £25.6 million) in Gibraltar in the first six months of this year, a trend which has been replicated in other jurisdictions like Jersey, Guernsey and the Isle of Man.

This is the bank’s summary of its half year results:

Key points:

• RBS International reported operating profit of £103 million for the first six months of the year, an increase year-on-year of £1 million.
• Good lending growth as we support customers in Jersey, Guernsey, Isle of Man and Gibraltar. We helped almost as many mortgage customers in the first 6 months of 2016 than in the whole of 2015.
• Continued strong growth in our funds banking business in Jersey and Guernsey.

In the first half of 2016, we have continued to support our customers and meet more of their financial needs:

• We welcomed 1,159 new mortgage customers to the bank, lending them £230.9 million. 74% year-on-year increase based on customer volume.
• We held three entrepreneur workshops supporting over 130 entrepreneurs in designing and refining their business pitches.

• The number of customers using our mobile banking platform continued to grow, with over 1 million logins per month and over £1 million of transfers per day.
• In eQ, our multi-currency online banking platform, we processed over 928,000 customer payments worth £111 billion.
• We have re-invested in our people, with over 1,000 of our colleagues undertaking Sales and Service Excellence training, to ensure that we continue to meet all of our customers’ financial needs.

RBSI, CEO, Andrew McLaughlin said:

“We are making early progress with our new strategy. Our profitability has held up well despite the challenges of a lower interest rate environment. Our focus is on identifying and meeting customer needs. That is how we will create value for our investors and job satisfaction for our colleagues.”