Royal Bank Of Scotland Profit Surges, As Bank's New CEO Sets Climate Goal

Royal Bank of Scotland profit surges, as bank's new CEO sets climate goal

Royal Bank of Scotland on Friday said its net profit almost doubled last year to 3.1 billion, as new chief executive Alison Rose placed climate at the top of her agenda

London, (UrduPoint / Pakistan Point News - 14th Feb, 2020 ):Royal Bank of Scotland on Friday said its net profit almost doubled last year to 3.1 billion, as new chief executive Alison Rose placed climate at the top of her agenda.

Rose said in the earnings statement that she planned also to roughly halve the size of the Edinburgh-based lender's small investment banking arm.

RBS said its profit after tax jumped to 3.1 billion ($4.0 billion, 3.7 billion euros) in 2019 from �1.62 billion a year earlier.

Looking to the future, Rose said "climate, and the role we can play in accelerating the transition to a low carbon economy" was among her "initial areas of focus where we can make a substantial impact".

She expressed "an ambition to take the lead in combating the causes of climate change".

Rose added: "Today, we are setting a bold new ambition -- to be a leading bank in the UK & Republic of Ireland helping to address the climate challenge; by making our own operations net carbon zero in 2020."

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