Royal Bank of Scotland (RBS) and Standard Chartered have survived the 2015 stress test set by the Bank of England, the UK’s central bank — despite initial concerns about their capital positions.

The central bank said the stress test did not reveal capital inadequacies for five out of the seven banks examined — Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society and Santander UK.

But RBS and Standard Chartered passed the test only after they took steps to strengthen their capital positions and avoided having to submit a revised capital plan.

“We are pleased with the progress we have made relative to the 2014 stress test, but recognise we still have much to do to restore RBS to be a strong and resilient bank for our customers,” said Ewen Stevenson, RBS chief financial officer (pictured).

“During 2015 we have continued to strengthen our core capital ratio and improve our leverage position.”

The Bank of England (BoE) said the stress-test results “suggest that the banking system is capitalised to support the real economy in a severe global stress scenario which adversely affects the United Kingdom.”

However, the BoE warned: “The Royal Bank of Scotland Group did not meet its individual capital guidance after management actions in this scenario.

“In light of the steps that The Royal Bank of Scotland Group has already taken to strengthen its capital position, coupled with its plans for future additional Tier 1 (AT1) issuance, the Prudential Regulation Authority board did not require The Royal Bank of Scotland Group to submit a revised capital plan.”

To read full details of the stress test click here: http://www.bankofengland.co.uk/financialstability/Documents/fpc/results011215.pdf