RBS has returned to profit for the first time in a decade as it continues its recovery. In it’s recently published Annual Report titled, “Becoming simple, safe and customer focused”, the bank showed an annual profit of £752m compared with a £6.95bn loss the year before. Ross McEwan, the bank’s CEO, said: “This is a symbolic moment for this bank and a clear indication of the progress we continue to make in putting the past behind us, while at the same time investing to build a bank which delivers for both customers and shareholders.”
The bank see’s its long term success dependent on its ability to generate value for society by providing products, services and facilities that are useful to people and the communities in which they operate. Progress continues towards embedding sustainability across the organization through employee volunteering initiatives and fundraising partnerships which continue to make a difference for the communities they serve.
To help achieve the UN’s 17 Sustainable Development Goals (SDGs), our focus needs to shift to building capacity of development actors at the local level to finance and deliver services that change the lives of people in their communities. Sustainability efforts also offer a major opportunity for banks to demonstrate their commitment to operating responsibly and making a positive impact.
Some of the sustainability highlights of the 2017 report includes:
- 20,000 employees have trained as ‘Friends Against Scams’ to help keep customers safe and secure
- 44% of top 5000 roles are occupied by women and hope to achieve full gender balance at all levels of business by 2030
- MoneySense, a 23-year flagship financial education programme, has helped an estimated 5 million young people learn about money
- In 2017, employees supported a wide variety of charities by raising £4.3m in giving through their giving and fundraising efforts
- RBS was recognised by InfraDeals as the leading lender to the UK renewables sector by number of transactions over the past six years (2012- 2017)
- Helped over one million customers with a free Financial Health Checks to help customers organise their finances and achieve their financial goals
Royal Bank of Scotland is a UK-based banking and financial services company, headquartered in Edinburgh. It provides a wide range of products and services to personal, commercial and large corporate and institutional customers through its two main subsidiaries, The Royal Bank of Scotland and NatWest, as well as through a number of other well-known brands including Ulster Bank and Coutts. It remains more than 70% owned by the taxpayer after its £45bn bail-out by the Government during the financial crisis.
Download the full report here.