Interim Management Statement

RNS Number : 5063L

Royal Bank of Scotland Group PLC

07 May 2010

 

Appendix 1

Reconciliations of pro forma to statutory income statements and balance sheets

Appendix 1 Reconciliations of pro forma to statutory income statements and balance sheets

Income statement for the quarter ended 31 March 2010

	Pro forma	RFS  minority  interest	Reallocation  of one-off   items	Statutory
	£m	£m	£m	£m
Net interest income	3,534	8	-	3,542
Non-interest income (excluding insurance net premium income)	4,131	8	(447)	3,692
Insurance net premium income	1,289	-	-	1,289
Non-interest income	5,420	8	(447)	4,981
Total income	8,954	16	(447)	8,523
Operating expenses	(4,430)	-	(287)	(4,717)
Profit before other operating charges	4,524	16	(734)	3,806
Insurance net claims	(1,136)	-	-	(1,136)
Operating profit before impairment losses	3,388	16	(734)	2,670
Impairment losses	(2,675)	-	-	(2,675)
Operating profit/(loss)	713	16	(734)	(5)
Amortisation of purchased intangible assets	(65)	-	65	-
Integration and restructuring costs	(168)	-	168	-
Strategic disposals	53	-	(53)	-
Bonus tax	(54)	-	54	-
Asset Protection Scheme credit default swap - fair value changes	(500)	-	500	-
Operating loss before tax	(21)	16	-	(5)
Tax charge	(106)	(1)	-	(107)
Loss from continuing operations	(127)	15	-	(112)
(Loss)/profit from discontinued operations, net of tax	(4)	317	-	313
(Loss)/profit for the period	(131)	332	-	201
Minority interests	(12)	(332)	-	(344)
Preference share and other dividends	(105)	-	-	(105)
Loss attributable to ordinary and B shareholders	(248)	-	-	(248)

Appendix 1 Reconciliations of pro forma to statutory income statements and balance sheets

Income statement for the quarter ended 31 December 2009

	Pro forma	RFS  minority  interest  (1)	Reallocation  of one-off   items	Statutory  (1)
	£m	£m	£m	£m
Net interest income	3,446	(27)	-	3,419
Non-interest income (excluding insurance net premium income)	2,786	(148)	(166)	2,472
Insurance net premium income	1,308	-	-	1,308
Non-interest income	4,094	(148)	(166)	3,780
Total income	7,540	(175)	(166)	7,199
Operating expenses	(4,473)	5	1,601	(2,867)
Profit before other operating charges	3,067	(170)	1,435	4,332
Insurance net claims	(1,321)	-	-	(1,321)
Operating profit before impairment losses	1,746	(170)	1,435	3,011
Impairment losses	(3,099)	-	-	(3,099)
Operating loss	(1,353)	(170)	1,435	(88)
Amortisation of purchased intangible assets	(59)	-	59	-
Integration and restructuring costs	(228)	-	228	-
Strategic disposals	(166)	-	166	-
Bonus tax	(208)	-	208	-
Gains on pensions curtailment	2,148	-	(2,148)	-
Write-down of goodwill and other intangible assets	(52)	-	52	-
Operating profit/(loss) before tax	82	(170)	-	(88)
Tax	(649)	5	-	(644)
Loss from continuing operations	(567)	(165)	-	(732)
Loss from discontinued operations, net of tax	(7)	(128)	-	(135)
Loss for the period	(574)	(293)	-	(867)
Minority interests	(47)	293	-	246
Preference share and other dividends	(144)	-	-	(144)
Loss attributable to ordinary and B shareholders	(765)	-	-	(765)

Note:

(1)	Restated for the reclassification of the results attributable to other Consortium Members as discontinued operations.

Appendix 1 Reconciliations of pro forma to statutory income statements and balance sheets

Income statement for the quarter ended 31 March 2009

	Pro forma	RFS  minority  interest  (1)	Reallocation  of one-off   items	Statutory  (1)
	£m	£m	£m	£m
Net interest income	3,538	26	-	3,564
Non-interest income (excluding insurance net premium income)	3,776	(16)	241	4,001
Insurance net premium income	1,356	-	-	1,356
Non-interest income	5,132	(16)	241	5,357
Total income	8,670	10	241	8,921
Operating expenses	(4,667)	(11)	(464)	(5,142)
Profit before other operating charges	4,003	(1)	(223)	3,779
Insurance net claims	(966)	-	-	(966)
Operating profit before impairment losses	3,037	(1)	(223)	2,813
Impairment losses	(2,858)	-	-	(2,858)
Operating profit/(loss)	179	(1)	(223)	(45)
Amortisation of purchased intangible assets	(85)	-	85	-
Integration and restructuring costs	(379)	-	379	-
Strategic disposals	241	-	(241)	-
Operating loss before tax	(44)	(1)	-	(45)
Tax	(228)	18	-	(210)
Loss from continuing operations	(272)	17	-	(255)
Loss from discontinued operations, net of tax	(45)	(5)	-	(50)
Loss for the period	(317)	12	-	(305)
Minority interests	(471)	(12)	-	(483)
Preference share and other dividends	(114)	-	-	(114)
Loss attributable to ordinary and B shareholders	(902)	-	-	(902)

Note:

(1)	Restated for the reclassification of the results attributable to other Consortium Members as discontinued operations.

Appendix 1 Reconciliations of pro forma to statutory income statements and balance sheets

Balance sheet at 31 March 2010

	Pro forma	Transfers	Statutory
	£m	£m	£m
Assets
Cash and balances at central banks	42,008	-	42,008
Net loans and advances to banks	56,508	20	56,528
Reverse repurchase agreements and stock borrowing	43,019	-	43,019
Loans and advances to banks	99,527	20	99,547
Net loans and advances to customers	553,872	33	553,905
Reverse repurchase agreements and stock borrowing	52,906	-	52,906
Loans and advances to customers	606,778	33	606,811
Debt securities	252,116	-	252,116
Equity shares	21,054	-	21,054
Settlement balances	24,369	-	24,369
Derivatives	462,272	-	462,272
Intangible assets	14,683	-	14,683
Property, plant and equipment	18,248	-	18,248
Deferred taxation	6,540	-	6,540
Prepayments, accrued income and other assets	13,909	625	14,534
Assets of disposal groups	21,394	182,136	203,530
Total assets	1,582,898	182,814	1,765,712
Liabilities
Bank deposits	100,168	(1,874)	98,294
Repurchase agreements and stock lending	48,083	-	48,083
Deposits by banks	148,251	(1,874)	146,377
Customer deposits	425,102	-	425,102
Repurchase agreements and stock lending	81,144	-	81,144
Customer accounts	506,246	-	506,246
Debt securities in issue	239,212	-	239,212
Settlement balances and short positions	70,632	-	70,632
Derivatives	444,223	-	444,223
Accruals, deferred income and other liabilities	28,247	219	28,466
Retirement benefit liabilities	2,670	12	2,682
Deferred taxation	2,226	69	2,295
Insurance liabilities	7,711	-	7,711
Subordinated liabilities	31,936	-	31,936
Liabilities of disposal groups	20,563	176,329	196,892
Total liabilities	1,501,917	174,755	1,676,672
Equity
Minority interests	2,305	8,059	10,364
Owners' equity	78,676	-	78,676
Total equity	80,981	8,059	89,040
Total liabilities and equity	1,582,898	182,814	1,765,712

Appendix 1 Reconciliations of pro forma to statutory income statements and balance sheets

Balance sheet at 31 December 2009

	Pro forma	Transfers	Statutory
	£m	£m	£m
Assets
Cash and balances at central banks	51,548	713	52,261
Net loans and advances to banks	48,777	7,879	56,656
Reverse repurchase agreements and stock borrowing	35,097	-	35,097
Loans and advances to banks	83,874	7,879	91,753
Net loans and advances to customers	554,654	132,699	687,353
Reverse repurchase agreements and stock borrowing	41,040	-	41,040
Loans and advances to customers	595,694	132,699	728,393
Debt securities	249,095	18,159	267,254
Equity shares	15,960	3,568	19,528
Settlement balances	12,024	9	12,033
Derivatives	438,199	3,255	441,454
Intangible assets	14,786	3,061	17,847
Property, plant and equipment	17,773	1,624	19,397
Deferred taxation	6,492	547	7,039
Prepayments, accrued income and other assets	18,604	2,381	20,985
Assets of disposal groups	18,432	110	18,542
Total assets	1,522,481	174,005	1,696,486
Liabilities
Bank deposits	115,642	(11,504)	104,138
Repurchase agreements and stock lending	38,006	-	38,006
Deposits by banks	153,648	(11,504)	142,144
Customer deposits	414,251	131,598	545,849
Repurchase agreements and stock lending	68,353	-	68,353
Customer accounts	482,604	131,598	614,202
Debt securities in issue	246,329	21,239	267,568
Settlement balances and short positions	50,875	1	50,876
Derivatives	421,534	2,607	424,141
Accruals, deferred income and other liabilities	24,624	5,703	30,327
Retirement benefit liabilities	2,715	248	2,963
Deferred taxation	2,161	650	2,811
Insurance liabilities	7,633	2,648	10,281
Subordinated liabilities	31,538	6,114	37,652
Liabilities of disposal groups	18,857	33	18,890
Total liabilities	1,442,518	159,337	1,601,855
Equity
Minority interests	2,227	14,668	16,895
Owners' equity	77,736	-	77,736
Total equity	79,963	14,668	94,631
Total liabilities and equity	1,522,481	174,005	1,696,486

 

END

 

 

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