Interim Results - Part 9 of 13

RNS Number : 8173L

Royal Bank of Scotland Group PLC

05 August 2011

 



Appendix 1

Income statement reconciliations

Appendix 1 Income statement reconciliations

	Quarter ended
	30 June 2011				31 March 2011				30 June 2010
	Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory
	£m	£m	£m		£m	£m	£m		£m	£m	£m
Interest receivable	5,410	(6)	5,404		5,402	(1)	5,401		5,884	4	5,888
Interest payable	(2,177)	-	(2,177)		(2,100)	-	(2,100)		(2,200)	(12)	(2,212)
Net interest income	3,233	(6)	3,227		3,302	(1)	3,301		3,684	(8)	3,676
Fees and commissions receivable	1,700	-	1,700		1,642	-	1,642		2,046	7	2,053
Fees and commissions payable	(323)	-	(323)		(260)	-	(260)		(579)	-	(579)
Income from trading activities	1,204	(57)	1,147		1,490	(655)	835		1,502	608	2,110
Gain on redemption of own debt	-	255	255		-	-	-		-	553	553
Other operating income (excluding insurance premium income)	863	279	1,142		710	(319)	391		232	114	346
Insurance net premium income	1,090	-	1,090		1,149	-	1,149		1,278	-	1,278
Non-interest income	4,534	477	5,011		4,731	(974)	3,757		4,479	1,282	5,761
Total income	7,767	471	8,238		8,033	(975)	7,058		8,163	1,274	9,437
Staff costs	(2,099)	(111)	(2,210)		(2,320)	(79)	(2,399)		(2,178)	(187)	(2,365)
Premises and equipment	(563)	(39)	(602)		(556)	(15)	(571)		(516)	(31)	(547)
Other administrative expenses	(834)	(918)	(1,752)		(865)	(56)	(921)		(974)	(48)	(1,022)
Depreciation and amortisation	(396)	(57)	(453)		(380)	(44)	(424)		(435)	(84)	(519)
Operating expenses	(3,892)	(1,125)	(5,017)		(4,121)	(194)	(4,315)		(4,103)	(350)	(4,453)
Profit before other operating charges	3,875	(654)	3,221		3,912	(1,169)	2,743		4,060	924	4,984
Insurance net claims	(793)	-	(793)		(912)	-	(912)		(1,323)	-	(1,323)
Operating profit before impairment losses	3,082	(654)	2,428		3,000	(1,169)	1,831		2,737	924	3,661
Impairment losses	(2,264)	(842)	(3,106)		(1,947)	-	(1,947)		(2,487)	-	(2,487)
Operating profit/(loss)	818	(1,496)	(678)		1,053	(1,169)	(116)		250	924	1,174

Appendix 1 Income statement reconciliations (continued)

	Quarter ended
	30 June 2011				31 March 2011				30 June 2010
	Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory
	£m	£m	£m		£m	£m	£m		£m	£m	£m
Operating profit/(loss)	818	(1,496)	(678)		1,053	(1,169)	(116)		250	924	1,174
Fair value of own debt (1)	339	(339)	-		(480)	480	-		619	(619)	-
Asset Protection Scheme credit default swap - fair value changes (2)	(168)	168	-		(469)	469	-		500	(500)	-
Payment Protection Insurance costs	(850)	850	-		-	-	-		-	-	-
Sovereign debt impairment	(733)	733	-		-	-	-		-	-	-
Amortisation of purchased intangible assets	(56)	56	-		(44)	44	-		(85)	85	-
Integration and restructuring costs	(208)	208	-		(145)	145	-		(254)	254	-
Gain on redemption of own debt	255	(255)	-		-	-	-		553	(553)	-
Strategic disposals	50	(50)	-		(23)	23	-		(411)	411	-
Bonus tax	(11)	11	-		(11)	11	-		(15)	15	-
RFS Holdings minority interest	(5)	5	-		3	(3)	-		17	(17)	-
Interest rate hedge adjustments on impaired available-for-sale    Greek government bonds	(109)	109	-		-	-	-		-	-	-
(Loss)/profit before tax	(678)	-	(678)		(116)	-	(116)		1,174	-	1,174
Tax charge	(222)	-	(222)		(423)	-	(423)		(825)	-	(825)
(Loss)/profit from continuing operations	(900)	-	(900)		(539)	-	(539)		349	-	349
Profit/(loss) from discontinued operations, net of tax	21	-	21		10	-	10		(1,019)	-	(1,019)
Loss for the period	(879)	-	(879)		(529)	-	(529)		(670)	-	(670)
Non-controlling interests	(18)	-	(18)		1	-	1		946	-	946
Preference share and other dividends	-	-	-		-	-	-		(19)	-	(19)
(Loss)/profit attributable to ordinary and B shareholders	(897)	-	(897)		(528)	-	(528)		257	-	257

Notes:

(1)	Reallocation of £111 million (Q1 2011 - £186 million; Q2 2010 - £104 million) to income from trading activities and £228 million (Q1 2011 - £294 million; Q2 2010 - £515 million) to other operating income.
(2)	Reallocation to income from trading activities.

Appendix 1 Income statement reconciliations (continued)

	Half year ended
	30 June 2011				30 June 2010
	Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory
	£m	£m	£m		£m	£m	£m
Interest receivable	10,812	(7)	10,805		11,580	-	11,580
Interest payable	(4,277)	-	(4,277)		(4,362)	-	(4,362)
Net interest income	6,535	(7)	6,528		7,218	-	7,218
Fees and commissions receivable	3,342	-	3,342		4,097	7	4,104
Fees and commissions payable	(583)	-	(583)		(1,151)	-	(1,151)
Income from trading activities	2,694	(712)	1,982		3,727	149	3,876
Gain on redemption of own debt	-	255	255		-	553	553
Other operating income (excluding insurance premium income)	1,573	(40)	1,533		828	(35)	793
Insurance net premium income	2,239	-	2,239		2,567	-	2,567
Non-interest income	9,265	(497)	8,768		10,068	674	10,742
Total income	15,800	(504)	15,296		17,286	674	17,960
Staff costs	(4,419)	(190)	(4,609)		(4,731)	(323)	(5,054)
Premises and equipment	(1,119)	(54)	(1,173)		(1,044)	(38)	(1,082)
Other administrative expenses	(1,699)	(974)	(2,673)		(1,909)	(124)	(2,033)
Depreciation and amortisation	(776)	(101)	(877)		(849)	(152)	(1,001)
Operating expenses	(8,013)	(1,319)	(9,332)		(8,533)	(637)	(9,170)
Profit before other operating charges	7,787	(1,823)	5,964		8,753	37	8,790
Insurance net claims	(1,705)	-	(1,705)		(2,459)	-	(2,459)
Operating profit before impairment losses	6,082	(1,823)	4,259		6,294	37	6,331
Impairment losses	(4,211)	(842)	(5,053)		(5,162)	-	(5,162)
Operating profit/(loss)	1,871	(2,665)	(794)		1,132	37	1,169

Appendix 1 Income statement reconciliations (continued)

	Half year ended
	30 June 2011				30 June 2010
	Managed	Reallocation  of one-off   items	Statutory		Managed	Reallocation  of one-off   items	Statutory
	£m	£m	£m		£m	£m	£m
Operating profit/(loss)	1,871	(2,665)	(794)		1,132	37	1,169
Fair value of own debt (1)	(141)	141	-		450	(450)	-
Asset Protection Scheme credit default swap - fair value changes (2)	(637)	637	-		-	-	-
Payment Protection Insurance costs	(850)	850	-		-	-	-
Sovereign debt impairment	(733)	733	-		-	-	-
Amortisation of purchased intangible assets	(100)	100	-		(150)	150	-
Integration and restructuring costs	(353)	353	-		(422)	422	-
Gain on redemption of own debt	255	(255)	-		553	(553)	-
Strategic disposals	27	(27)	-		(358)	358	-
Bonus tax	(22)	22	-		(69)	69	-
RFS Holdings minority interest	(2)	2	-		33	(33)	-
Interest rate hedge adjustments on impaired available-for-sale Greek government bonds	(109)	109	-		-	-	-
(Loss)/profit before tax	(794)	-	(794)		1,169	-	1,169
Tax charge	(645)	-	(645)		(932)	-	(932)
(Loss)/profit from continuing operations	(1,439)	-	(1,439)		237	-	237
Profit/(loss) from discontinued operations, net of tax	31	-	31		(706)	-	(706)
Loss for the period	(1,408)	-	(1,408)		(469)	-	(469)
Non-controlling interests	(17)	-	(17)		602	-	602
Preference share and other dividends	-	-	-		(124)	-	(124)
(Loss)/profit attributable to ordinary and B shareholders	(1,425)	-	(1,425)		9	-	9

Notes:

(1)	Reallocation of £75 million (H1 2010 - £145 million) to income from trading activities and £66 million (H1 2010 - £305 million) to other operating income.
(2)	Reallocation to income from trading activities.

 

END

 

 

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