Post Magazine - RBSI boasts of increased income despite competition

Post Magazine - RBSI boasts of increased income despite competition: "RBSI boasts of increased income despite competition
Royal Bank of Scotland this morning hailed the performance of its insurance division in the first quarter of 2006.
In a statement then bank said: 'The Group has continued to achieve good growth in income, with strong performances in corporate markets, particularly global banking & markets, and Ulster Bank.
'Retail Markets� income growth reflects the continuing transition in UK customer behaviour away from unsecured lending towards savings and investment products, with wealth management performing particularly well. RBS Insurance has continued to increase its income in competitive conditions. Citizens has achieved good growth in its business activities but the increase in its income in US dollars has been constrained by the continuing impact of the flatter yield curve. Group non-interest income is in line to account for over 60% of total income.'
Sir Fred Goodwin, group chief executive, added: �Organic growth has been a key element of the group�s strategy and a prominent theme in our results over recent years. 2006 is progressing well, and we are confident that our interim results will clearly demonstrate the inherent strength of our business model, the benefits of our diversified business activities, and the range of options available to us for future organic growth.� "