RBSI customers opt for repayment holiday

Thursday 06 August 2020

Almost 1,300 personal customers of RBS International have opted for a capital repayment holiday, and just over 400 business customers have opted for a capital repayment holiday or one of the government-guaranteed loan schemes, according to the bank's half-year results.

The firm said it also extended forbearance to customers and additional lending facilities to governments in its jurisdictions as part of the wider effort to deal with covid-19.

In the first half of the year, RBS International generated income of £259m and an operating profit of £87m, according to recently released figures.

The bank said its balance sheet remained strong with a capital ratio of 20.9% and a loan to deposit ratio of 43%.

“The first six months has been a huge test of our service culture, financial strength and operational resilience," CEO Andrew McLaughlin said.

"Lower interest rates and debt relief lower our profitability but it is the right thing to do as we support our customers and the community through difficult times.”