Full Year 2019 Royal Bank of Scotland Group PLC Earnings and Investor Update Call (Fixed Income Investors) Transcript

Feb 14, 2020 / 01:00PM GMT
Operator

Good afternoon, ladies and gentlemen. This afternoon's conference call will be hosted by Katie Murray, Chief Financial Officer; Donal Quaid, Group Treasurer; and Rupert Mingay, NatWest Markets Treasurer. Please go ahead.

Katie Murray - The Royal Bank of Scotland Group plc - CFO & Executive Director

Thanks, Laura, and thank you for joining the call. On the line, you have myself, Katie Murray, Group CFO of NatWest Group. And I'm joined by Donal Quaid, our Treasurer; Rupert Mingay, NatWest Markets Treasurer; Paul Pybus, the Head of Debt IR; and also Amanda Hausler from NatWest Markets IR.

We have put some fixed income slides onto our IR website, which Donal and I will now talk you through. We'll give you a brief overview of our financial performance in 2019 before taking you through the key elements of our strategy and our 2020 and medium to long-term outlook, and then we'll open up the call for Q&A at the end.

Let me start by running through the bank's solid performance in 2019. We delivered operating -- an operating profit before tax of

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