Hester: Cost savings and asset sales are going well

ROYAL Bank of Scotland (RBS) chief executive Stephen Hester&rsquo;s mission to sell off non-core assets is going well, he said yesterday, confirming that the bank&rsquo;s aircraft leasing operation was for sale.<br /><br />&ldquo;We will sell all the things in non-core or wind them down, and the things in core will stay in the bank unless someone comes along to change our minds,&rdquo; he said.<br /><br />He said growth was likely to be slow in the future, but that the bank could deliver a sustainable return on equity of around 15 per cent.<br /><br />RBS will spend &pound;6bn addressing deficiencies in its technology and ramping up the marketing of brands such as NatWest and Direct Line, said Hester.<br /><br />And he added that efforts to make &pound;2.5bn in cost savings by 2011 were ahead of schedule.