Royal Bank of Scotland Group Plc. (RBS.L,RBS) expects to invest about 700 million pounds between 2013 and 2016 in its UK retail business, with strong payback expected, Ross McEwan, Chief Executive Officer of the firm's UK Retail said Monday at the UK Retail Investor Roundtable.
The lender, 82 percent-owned by the government, said its key investments would be made on branch refurbishments, faster account opening and simplified mortgage processing. The company has 2,066 branches with 15.4 million customers.
The bank also looks at new self-serve cash and coin machines with enhanced functionality as well as improved single view of customer across complete product range, along with new complaints management system.
Overall, RBS expects stable top-line income performance for 2013, despite continued impact of low interest rates and weak consumer activity.
Asset margins are expected to be stable despite mix impacts, while deposit margin could be impacted by continued lower current account hedges.
RBS.L closed down 3.4 percent on Monday at 297.30 pence.
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