Strong position in U.K. commercial and corporate banking and a leading position in U.K. retail banking. Funding and liquidity profiles compare well with U.K. peers. Sound capitalization and asset quality. Long-running restructuring of the bank's business model, with possible headwinds from weaker economic prospects following the outcome of the EU referendum. Uncertainty around the outcome of the pending U.S. RMBS litigation. The stock of nonperforming assets remains larger than that of U.K. peers. The stable outlook on the Royal Bank of Scotland Group (RBSG) and its main subsidiaries balances a potential increase in economic risks for U.K. banks--following the U.K.'s decision to leave the EU--against the group's improved capitalization and continued progress with its restructuring. We could lower the ratings
