Royal Bank of Scotland CEO Interviewed on Full-Year 2010 Results

By The Royal Bank Of Scotland Group Plc, PRNE
Wednesday, February 23, 2011

LONDON, February 24, 2011 - The Royal Bank of Scotland Group reported full year group operating
profits of GBP1.9bn today against a loss for the same period last year,
evidence its CEO Stephen Hester said that the "recovery story was going

Speaking to the financial broadcaster he pointed
out that the bank had met or in some cases exceeded the targets it set itself
for the second year of its strategic plan, with the core bank producing a
much better balanced set of results, and with the non-core bank reducing the
level of risk inherent in the business at a faster pace. But he added there
was still a lot left to do.

He urged the on-going investigation by the ICB into the banking industry
to remain true to its terms of reference, and looked forward to the time when
the bank could exit the Asset Protection Scheme and the moment when the
government could start selling its 84% stake in the bank.

In spite of the improved performance he sounded a note of caution about
the outlook citing the regulatory and economic uncertainties hanging over the

The interview and transcript are available now on, the online financial broadcaster, features in-depth
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