RBS suffered the blow following a £4bn write-down on its US-based business Citizens and tax charges related to its involvement in mis-selling and money laundering.
However, its 2014 annual results showed gross mortgage lending at the bank surged 37% year-on-year to £19.7bn, which it attributed to the additional recruitment of mortgage advisers, up 18% from 630 to 744.
It also lent its increase in adviser capacity to the performance of its mortgage balance which jumped by 4% to £103.2bn.
Some 15,000 buyers have purchased their first home with an RBS mortgage through the government’s Help to Buy scheme since its launch in May 2013.
However, RBS’s US mortgage business is currently facing litigation costs this year over the sale of mortgage-based bonds during the financial crisis.
Chief executive Ross McEwan said: “Last year we identified the areas we needed to improve in order to deliver our strategy – cost, complexity, capital and trust from our customers. The energy and resolve of our people have resulted in significant progress on each, and we have delivered on the goals we set for 2014.”
