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The Royal Bank Of Scotland Group Management Discusses Q2 2012 Results - Earnings Call Transcript

The Royal Bank of Scotland Group (RBS)

Q2 2012 Earnings Call

August 03, 2012 4:30 am ET

Executives

Stephen A. M. Hester - Group Chief Executive Officer and Executive Director

Bruce W. Van Saun - Group Finance Director and Executive Director

Richard O’Connor - Head of Investor Relations

Analysts

Andrew P. Coombs - Citigroup Inc, Research Division

Chirantan Barua - Sanford C. Bernstein & Co., LLC., Research Division

Jason Napier - Deutsche Bank AG, Research Division

Rohith Chandra-Rajan - Barclays Capital, Research Division

Chintan Joshi - Nomura Securities Co. Ltd., Research Division

Raul Sinha - JP Morgan Chase & Co, Research Division

Ian Gordon - Investec Securities (UK), Research Division

Manus Costello - Autonomous Research LLP

Michael Helsby - BofA Merrill Lynch, Research Division

Michael Trippitt - Oriel Securities Ltd., Research Division

Thomas Rayner - Exane BNP Paribas, Research Division

Peter Toeman - HSBC, Research Division

Edward Firth - Macquarie Research

Arturo de Frias Marques - Grupo Santander, Research Division

Presentation

Operator

Good morning, ladies and gentlemen. Today's conference call will be hosted by Stephen Hester, Group Chief Executive of RBS.

Stephen A. M. Hester

Good morning, everyone. Thank you very much for joining us. With me, as usual, is Bruce Van Saun, our Finance Director; Richard O'Connor, who you also know, Head of Investor Relations. The -- this morning, a slightly different format than other half years, because obviously, we're not doing a physical presentation. I hope all of you have seen our physical presentation via webcast, which was up for 7:00 this morning in addition to our releases. And in that context, therefore, we're not going to re-go over that ground, and we're really going to spend this morning's session answering any questions that you may have which, of course, Richard can do afterwards if we don't get to all of them.

So let me simply say by way of introduction that I believe RBS is making good progress, albeit, clearly, we're doing it in the face of a set of challenging conditions in economic and regulatory terms. We have 2 jobs, as you know. The clean-up job, I think, continues to go well. We're on course for the 5-year timetable we set out. And on every measure, we're getting stronger and safer, important in these difficult times and in showing how we can ride through some of the current storms that have been going on in financial markets.

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