The Royal Bank of Scotland announced on Friday that its diluted earnings per share (EPS) amounted to £2.4 in the first fiscal quarter of 2020, dropping 58% on an annual basis, while its operating profit declined by 48.8% year-over-year to £519 million over the same three-month period.
Meanwhile, the cost-income ratio was at 57.7% in the first trimester of the fiscal year, decreasing by 5.7 percentage points compared to the year prior. Profit attributable to ordinary shareholders slumped 59.3% annually to land at £288 million in the first quarter.
"In addition to the impact of ongoing market uncertainty, and in line with the guidance in our 2019 Annual Report and Accounts, we continue to expect that regulatory changes will adversely impact income in our personal business by around £200 million," the company said in its outlook for 2020.
