You are here: Home - News -

RBS reveals gross mortgage lending of £8.2bn in Q3

  • 26/10/2018
  • 0
RBS reveals gross mortgage lending of £8.2bn in Q3
Royal Bank of Scotland's (RBS) gross mortgage lending in the three months to the end of September came in £8.2bn, the lender revealed in quarterly results.


The state-backed lender’s market share of new mortgage business stands at around 12%.

Targeted growth in mortgage lending helped net loans and advances increase by £0.4bn quarter-on-quarter, RBS said.

Customers at the bank, which includes NatWest, carried out 60% of mortgage switching online in the year to date, as overall digital sales increased 22% annually.

RBS profit before tax for the quarter came in at £961m, up from £871m compared to the same period last year.

However, overall bad loans shot up to £240m from £143m of impairment losses in 2017.

And the lender reported an additional £100m impairment charge, reflecting the more uncertain economic outlook.

Another £200m was also put aside for Payment Protection Insurance (PPI) complaints and compensation.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

  • RT @VickyHartleyMS: Sunak doubles incentives to £3,000 to take on apprentices and offers £126m in 'new cash' to triple traineeships. One to…
  • RT @VickyHartleyMS: Watch out for breaking news coverage on the #Budget2021 this afternoon from the best UK mortgage and property journalis…

Read previous post:
NatWest branch sign
NatWest to review buy-to-let policy towards benefit tenants – exclusive

NatWest is to review its buy-to-let policies towards tenants on benefits, Mortgage Solutions understands.