Pre-close Period Contact
Royal Bank of Scotland Group PLC
15 June 2001
THE ROYAL BANK OF SCOTLAND GROUP plc
PRE-CLOSE PERIOD CONTACT WITH ANALYSTS
The Royal Bank of Scotland Group plc ('RBSG') will be responding to analysts
enquiries ahead of its close period for the half year ended 30 June 2001.
The first half of 2001 has seen a continuation of the performance trend for
2000 which was reported on 1 March 2001.
The integration of Royal Bank of Scotland and Nat West remains on track and we
continue to be ahead of schedule in the delivery of the benefits envisaged.
The IT integration programme is proceeding entirely according to plan and a
number of key milestones have been achieved in the first half. Underlying
business performance is strong with good income growth again being a feature
of the first five months of 2001.
Credit quality continues to be monitored closely and while there has been some
evidence of weakening quality both in the US and the UK this, to date, has had
no material impact on provision requirements.
Margins remain flat although lower interest rates could have a minor negative
effect going forward.
The half year results for RBSG to 30 June 2001 will be announced on 7 August
2001.
Commenting on this announcement, Fred Goodwin said
'Given that we are likely to be fielding questions from analysts at this time
we felt it appropriate to make an announcement about progress for 2001 to
date. We continue to feel extremely positive both about the integration of Nat
West and the general progress being achieved by all parts of our
organisation.'
For further information contact:
Fred Goodwin
Group Chief Executive 0131 523 2033
Fred Watt
Group Finance Director 0131 523 5171
Finlay Williamson
Acting Head of Investor Relations 0131 523 2818
15 June 2001
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