28th Feb 2013 07:03
Appendix 1
Income statement reconciliations
Appendix 1 Income statement reconciliations
| Year ended | ||||||||
| 31 December 2012 |
| 31 December 2011 | ||||||
Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory | |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
Interest receivable | 18,837 | - | (307) | 18,530 |
| 21,417 | (7) | (374) | 21,036 |
Interest payable | (7,142) | (15) | 29 | (7,128) |
| (8,728) | (3) | (2) | (8,733) |
|
|
|
|
|
|
|
|
|
|
Net interest income | 11,695 | (15) | (278) | 11,402 |
| 12,689 | (10) | (376) | 12,303 |
|
|
|
|
|
|
|
|
|
|
Fees and commissions receivable | 5,715 | - | (6) | 5,709 |
| 6,384 | - | (5) | 6,379 |
Fees and commissions payable | (1,269) | (1) | 436 | (834) |
| (1,460) | - | 498 | (962) |
Income from trading activities | 3,531 | (1,858) | 2 | 1,675 |
| 3,313 | (612) | - | 2,701 |
Gain on redemption of own debt | - | 454 | - | 454 |
| - | 255 | - | 255 |
Other operating income | 2,397 | (2,724) | (138) | (465) |
| 2,527 | 1,595 | (147) | 3,975 |
Insurance net premium income | 3,718 | - | (3,718) | - |
| 4,256 | - | (4,256) | - |
|
|
|
|
|
|
|
|
|
|
Non-interest income | 14,092 | (4,129) | (3,424) | 6,539 |
| 15,020 | 1,238 | (3,910) | 12,348 |
|
|
|
|
|
|
|
|
|
|
Total income | 25,787 | (4,144) | (3,702) | 17,941 |
| 27,709 | 1,228 | (4,286) | 24,651 |
|
|
|
|
|
|
|
|
|
|
Staff costs | (7,639) | (884) | 447 | (8,076) |
| (8,163) | (515) | 322 | (8,356) |
Premises and equipment | (2,198) | (152) | 118 | (2,232) |
| (2,278) | (173) | 28 | (2,423) |
Other administrative expenses | (3,248) | (2,740) | 395 | (5,593) |
| (3,395) | (1,536) | 495 | (4,436) |
Depreciation and amortisation | (1,534) | (320) | 52 | (1,802) |
| (1,642) | (233) | 36 | (1,839) |
Write-down of goodwill and other intangible assets | - | (124) | - | (124) |
| - | (91) | 11 | (80) |
|
|
|
|
|
|
|
|
|
|
Operating expenses | (14,619) | (4,220) | 1,012 | (17,827) |
| (15,478) | (2,548) | 892 | (17,134) |
|
|
|
|
|
|
|
|
|
|
Profit before insurance net claims and impairment losses | 11,168 | (8,364) | (2,690) | 114 |
| 12,231 | (1,320) | (3,394) | 7,517 |
Insurance net claims | (2,427) | - | 2,427 | - |
| (2,968) | - | 2,968 | - |
|
|
|
|
|
|
|
|
|
|
Operating profit before impairment losses | 8,741 | (8,364) | (263) | 114 |
| 9,263 | (1,320) | (426) | 7,517 |
Impairment losses | (5,279) | - | - | (5,279) |
| (7,439) | (1,270) | 2 | (8,707) |
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) | 3,462 | (8,364) | (263) | (5,165) |
| 1,824 | (2,590) | (424) | (1,190) |
For the notes to this table refer to page 3.
Appendix 1 Income statement reconciliations (continued)
| Year ended | ||||||||
| 31 December 2012 |
| 31 December 2011 | ||||||
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) | 3,462 | (8,364) | (263) | (5,165) |
| 1,824 | (2,590) | (424) | (1,190) |
Own credit adjustments (2) | (4,649) | 4,649 | - | - |
| 1,914 | (1,914) | - | - |
Asset Protection Scheme (3) | (44) | 44 | - | - |
| (906) | 906 | - | - |
Payment Protection Insurance costs | (1,110) | 1,110 | - | - |
| (850) | 850 | - | - |
Interest Rate Hedging Products redress and related costs | (700) | 700 | - | - |
| - | - | - | - |
Regulatory fines | (381) | 381 | - | - |
| - | - | - | - |
Sovereign debt impairment | - | - | - | - |
| (1,099) | 1,099 | - | - |
Interest rate hedge adjustments on impaired available-for-sale sovereign debt | - | - | - | - |
| (169) | 169 | - | - |
Amortisation of purchased intangible assets | (178) | 178 | - | - |
| (222) | 222 | - | - |
Integration and restructuring costs | (1,550) | 1,550 | - | - |
| (1,064) | 1,064 | - | - |
Gain on redemption of own debt | 454 | (454) | - | - |
| 255 | (255) | - | - |
Strategic disposals | 113 | (113) | - | - |
| (104) | 104 | - | - |
Bank levy | (175) | 175 | - | - |
| (300) | 300 | - | - |
Bonus tax | - | - | - | - |
| (27) | 27 | - | - |
Write-down of goodwill and other intangible assets | (518) | 518 | - | - |
| (11) | 11 | - | - |
RFS Holdings minority interest | (20) | 20 | - | - |
| (7) | 7 | - | - |
|
|
|
|
|
|
|
|
|
|
Loss including the results of Direct Line Group discontinued operations | (5,296) | 394 | (263) | (5,165) |
| (766) | - | (424) | (1,190) |
Direct Line Group discontinued operations | 131 | (394) | 263 | - |
| (424) | - | 424 | - |
|
|
|
|
|
|
|
|
|
|
Loss before tax | (5,165) | - | - | (5,165) |
| (1,190) | - | - | (1,190) |
Tax charge | (469) | - | - | (469) |
| (1,127) | - | - | (1,127) |
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations | (5,634) | - | - | (5,634) |
| (2,317) | - | - | (2,317) |
For the notes to this table refer to page 3.
Appendix 1 Income statement reconciliations (continued)
| Year ended | ||||||||
| 31 December 2012 |
| 31 December 2011 | ||||||
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
(Loss)/profit from discontinued operations, net of tax |
|
|
|
|
|
|
|
|
|
- Direct Line Group | (184) | - | - | (184) |
| 301 | - | - | 301 |
- Other | 12 | - | - | 12 |
| 47 | - | - | 47 |
|
|
|
|
|
|
|
|
|
|
(Loss)/profit from discontinued operations, net of tax | (172) | - | - | (172) |
| 348 | - | - | 348 |
|
|
|
|
|
|
|
|
|
|
Loss for the period | (5,806) | - | - | (5,806) |
| (1,969) | - | - | (1,969) |
Non-controlling interests | 123 | - | - | 123 |
| (28) | - | - | (28) |
Preference share and other dividends | (288) | - | - | (288) |
| - | - | - | - |
|
|
|
|
|
|
|
|
|
|
Loss attributable to ordinary and B shareholders | (5,971) | - | - | (5,971) |
| (1,997) | - | - | (1,997) |
Notes:
(1) | The statutory results of Direct Line Group (DLG), which is classified as a discontinued operation. |
(2) | Reallocation of £1,813 million loss (2011 - £225 million gain) to income from trading activities and £2,836 million loss (2011 - £1,621 million gain) to other operating income. |
(3) | Reallocation to income from trading activities. |
Appendix 1 Income statement reconciliations (continued)
| Quarter ended | |||||||||||||
| 31 December 2012 |
| 30 September 2012 |
| 31 December 2011 | |||||||||
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest receivable | 4,517 | - | (78) | 4,439 |
| 4,529 | - | (73) | 4,456 |
| 5,234 | - | (87) | 5,147 |
Interest payable | (1,675) | (3) | 12 | (1,666) |
| (1,656) | (2) | 11 | (1,647) |
| (2,158) | (2) | (1) | (2,161) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income | 2,842 | (3) | (66) | 2,773 |
| 2,873 | (2) | (62) | 2,809 |
| 3,076 | (2) | (88) | 2,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fees and commissions receivable | 1,375 | - | (1) | 1,374 |
| 1,403 | - | (3) | 1,400 |
| 1,590 | - | (1) | 1,589 |
Fees and commissions payable | (324) | (1) | 80 | (245) |
| (341) | - | 132 | (209) |
| (573) | - | 234 | (339) |
Income from trading activities | 567 | (97) | 4 | 474 |
| 769 | (435) | - | 334 |
| 242 | (480) | - | (238) |
Loss on redemption of own debt | - | - | - | - |
| - | (123) | - | (123) |
| - | (1) | - | (1) |
Other operating income | 381 | (138) | (16) | 227 |
| 822 | (1,039) | (35) | (252) |
| 405 | (200) | (31) | 174 |
Insurance net premium income | 919 | - | (919) | - |
| 932 | - | (932) | - |
| 981 | - | (981) | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest income | 2,918 | (236) | (852) | 1,830 |
| 3,585 | (1,597) | (838) | 1,150 |
| 2,645 | (681) | (779) | 1,185 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total income | 5,760 | (239) | (918) | 4,603 |
| 6,458 | (1,599) | (900) | 3,959 |
| 5,721 | (683) | (867) | 4,171 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Staff costs | (1,439) | (312) | 123 | (1,628) |
| (1,943) | (116) | 100 | (1,959) |
| (1,781) | (212) | 95 | (1,898) |
Premises and equipment | (573) | (73) | 54 | (592) |
| (552) | (45) | 47 | (550) |
| (575) | (99) | 8 | (666) |
Other administrative expenses | (723) | (1,834) | 51 | (2,506) |
| (770) | (489) | 66 | (1,193) |
| (838) | (458) | 147 | (1,149) |
Depreciation and amortisation | (384) | (138) | 24 | (498) |
| (374) | (56) | 9 | (421) |
| (450) | (63) | 12 | (501) |
Write down of goodwill and other intangible assets | - | (124) | - | (124) |
| - | - | - | - |
| - | (91) | 11 | (80) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses | (3,119) | (2,481) | 252 | (5,348) |
| (3,639) | (706) | 222 | (4,123) |
| (3,644) | (923) | 273 | (4,294) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit/(loss) before insurance net claims and impairment losses | 2,641 | (2,720) | (666) | (745) |
| 2,819 | (2,305) | (678) | (164) |
| 2,077 | (1,606) | (594) | (123) |
Insurance net claims | (606) | - | 606 | - |
| (596) | - | 596 | - |
| (529) | - | 529 | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) before impairment losses | 2,035 | (2,720) | (60) | (745) |
| 2,223 | (2,305) | (82) | (164) |
| 1,548 | (1,606) | (65) | (123) |
Impairment losses | (1,454) | - | - | (1,454) |
| (1,176) | - | - | (1,176) |
| (1,692) | (226) | 2 | (1,916) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) | 581 | (2,720) | (60) | (2,199) |
| 1,047 | (2,305) | (82) | (1,340) |
| (144) | (1,832) | (63) | (2,039) |
For the note to this table refer to page 6.
Appendix 1 Income statement reconciliations (continued)
| Quarter ended | |||||||||||||
| 31 December 2012 |
| 30 September 2012 |
| 31 December 2011 | |||||||||
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) | 581 | (2,720) | (60) | (2,199) |
| 1,047 | (2,305) | (82) | (1,340) |
| (144) | (1,832) | (63) | (2,039) |
Own credit adjustments (2) | (220) | 220 | - | - |
| (1,455) | 1,455 | - | - |
| (472) | 472 | - | - |
Asset Protection Scheme (3) | - | - | - | - |
| 1 | (1) | - | - |
| (209) | 209 | - | - |
Payment Protection Insurance costs | (450) | 450 | - | - |
| (400) | 400 | - | - |
| - | - | - | - |
Interest Rate Hedging Products redress and related costs | (700) | 700 | - | - |
| - | - | - | - |
| - | - | - | - |
Regulatory fines | (381) | 381 | - | - |
| - | - | - | - |
| - | - | - | - |
Sovereign debt impairment | - | - | - | - |
| - | - | - | - |
| (224) | 224 | - | - |
Amortisation of purchased intangible assets | (32) | 32 | - | - |
| (47) | 47 | - | - |
| (53) | 53 | - | - |
Integration and restructuring costs | (620) | 620 | - | - |
| (257) | 257 | - | - |
| (478) | 478 | - | - |
Loss on redemption of own debt | - | - | - | - |
| (123) | 123 | - | - |
| (1) | 1 | - | - |
Strategic disposals | (16) | 16 | - | - |
| (23) | 23 | - | - |
| (82) | 82 | - | - |
Bank levy | (175) | 175 | - | - |
| - | - | - | - |
| (300) | 300 | - | - |
Write-down of goodwill and other intangible assets | (518) | 518 | - | - |
| - | - | - | - |
| (11) | 11 | - | - |
RFS Holdings minority interest | (2) | 2 | - | - |
| (1) | 1 | - | - |
| (2) | 2 | - | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss including the results of Direct Line Group discontinued operations | (2,533) | 394 | (60) | (2,199) |
| (1,258) | - | (82) | (1,340) |
| (1,976) | - | (63) | (2,039) |
Direct Line Group discontinued operations | 334 | (394) | 60 | - |
| (82) | - | 82 | - |
| (63) | - | 63 | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before tax | (2,199) | - | - | (2,199) |
| (1,340) | - | - | (1,340) |
| (2,039) | - | - | (2,039) |
Tax (charge)/credit | (46) | - | - | (46) |
| (10) | - | - | (10) |
| 213 | - | - | 213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations | (2,245) | - | - | (2,245) |
| (1,350) | - | - | (1,350) |
| (1,826) | - | - | (1,826) |
For the note to this table refer to page 6.
Appendix 1 Income statement reconciliations (continued)
| Quarter ended | |||||||||||||
| 31 December 2012 |
| 30 September 2012 |
| 31 December 2011 | |||||||||
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| Managed | One-off items reallocation | DLG (1) | Statutory |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
| £m | £m | £m | £m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit from discontinued operations, net of tax |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Direct Line Group | (351) | - | - | (351) |
| 62 | - | - | 62 |
| 36 | - | - | 36 |
- Other | 6 | - | - | 6 |
| 5 | - | - | 5 |
| 10 | - | - | 10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit from discontinued operations, net of tax | (345) | - | - | (345) |
| 67 | - | - | 67 |
| 46 | - | - | 46 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period | (2,590) | - | - | (2,590) |
| (1,283) | - | - | (1,283) |
| (1,780) | - | - | (1,780) |
Non-controlling interests | 107 | - | - | 107 |
| (3) | - | - | (3) |
| (18) | - | - | (18) |
Preference share and other dividends | (114) | - | - | (114) |
| (98) | - | - | (98) |
| - | - | - | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss attributable to ordinary and B shareholders | (2,597) | - | - | (2,597) |
| (1,384) | - | - | (1,384) |
| (1,798) | - | - | (1,798) |
Notes:
(1) | The statutory results of Direct Line Group, which is classified as a discontinued operation. |
(2) | Reallocation of £98 million loss (Q3 2012 - £435 million loss; Q4 2011 - £272 million loss) to income from trading activities and £122 million loss (Q3 2012 - £1,020 million loss; Q4 2012 - £200 million loss) to other operating income. |
(3) | Reallocation to income from trading activities. |
Appendix 2
Businesses outlined for
disposal
Appendix 2 Businesses outlined for disposal
To comply with EC State Aid requirements the Group agreed to make a series of divestments by the end of 2013: the disposal of a majority interest in Direct Line Group, Global Merchant Services and its interest in RBS Sempra Commodities JV. The Group also agreed to dispose of its RBS England and Wales and NatWest Scotland branch-based businesses, along with certain SME and corporate activities across the UK ('UK branch-based businesses'). The disposals of Global Merchant Services and RBS Sempra Commodities JV businesses have now effectively been completed.
In October 2012, the Group announced that it had received notification of Santander's decision to pull out of its agreed purchase of the Group's UK branch-based businesses. Santander's decision follows extensive work by both parties to separate the businesses into a largely standalone form and to prepare the business, customers and staff for transfer. RBS has initiated a new process of disposal which has attracted renewed interest from trade, private equity and other investors. The Group is reviewing all options for feasibility, ability to execute and a fair outcome for all stakeholders. In parallel with this RBS is creating a standalone banking entity supported by a bespoke technology solution that would facilitate a trade sale now or at some point in the future, or an IPO. We will continue to work with HMT, the EU and the FSA to secure the best outcome for customers and will update the market as appropriate.
The Direct Line Group IPO prospectus was published on 28 September 2012 and the shares were admitted to listing on 16 October 2012. RBS Group sold 520.8 million ordinary shares in Direct Line Group, representing 34.7% of the total share capital, generating gross proceeds of £911 million. This was consistent with the already communicated plan to divest control of Direct Line Group in stages, with control ceded by the end of 2013 and complete disposal by the end of 2014.
Direct Line Group reached agreement with RBS Group in September 2012 for an arm's-length, five year distribution agreement for the continued provision of general insurance products post-divestment. Residual IT services will also be provided under a Transitional Services Agreement.
Appendix 2 Businesses outlined for disposal (continued)
Set out below are the income statements for the year ended 31 December 2012 and key balance sheet metrics as of 31 December 2012 in respect of the EU mandated divestments.
UK branch- based businesses |
Direct Line Group | |
Income statement | £m | £m |
Net interest income | 653 | 280 |
Fees and commissions receivable | 217 | 6 |
Fees and commissions payable | (11) | (436) |
Income from trading activities | 16 | (2) |
Other operating income | 5 | 151 |
Insurance net premium income | - | 3,718 |
Non-interest income | 227 | 3,437 |
Total income (1) | 880 | 3,717 |
Staff costs | (164) | (337) |
Premises and equipment | - | (95) |
Other administrative expenses | (269) | (365) |
Depreciation and amortisation | - | (52) |
Operating expenses | (433) | (849) |
Profit before insurance net claims and impairment losses | 447 | 2,868 |
Insurance net claims | - | (2,427) |
Operating profit before impairment losses | 447 | 441 |
Impairment losses | (142) | - |
Operating profit (2) | 305 | 441 |
Capital and balance sheet | £bn | £bn |
Total assets (3) | 18.8 | 12.7 |
Loans and advances to customers (gross) | 18.9 | 0.9 |
Customer deposits | 21.5 | - |
Risk elements in lending | 1.4 | - |
Risk-weighted assets | 12.2 | n/a |
Notes:
(1) | Total income for Direct Line Group includes investment income of £243 million. |
(2) | Managed view operating profit for Direct Line Group excludes the goodwill write-down, £394 million, integration and restructuring costs, £135 million and other separation costs, £43 million. |
(3) | Total assets for Direct Line Group include approximately £0.5 billion of goodwill, of which £0.3 billion is attributed to Direct Line Group by RBS Group. |
Appendix 3
Analysis of balance sheet
pre and post disposal groups
Appendix 3 Analysis of balance sheet pre and post disposal groups
In accordance with IFRS 5 assets and liabilities of disposal groups are presented as a single line on the face of the balance sheet. As allowed by IFRS, disposal groups are included within risk measures.
31 December 2012 | 30 September 2012 | 31 December 2011 | |||||||||
Balance sheet | Disposal groups (1) | Gross of disposal groups |
| Balance sheet | Disposal groups (2) | Gross of disposal groups | Balance sheet | Disposal groups (3) | Gross of disposal groups | ||
£m | £m | £m | £m | £m | £m | £m | £m | £m | |||
Assets | |||||||||||
Cash and balances at central banks | 79,290 | 18 | 79,308 | 80,122 | 49 | 80,171 | 79,269 | 127 | 79,396 | ||
Net loans and advances to banks | 29,168 | 2,112 | 31,280 | 38,347 | 83 | 38,430 | 43,870 | 87 | 43,957 | ||
Reverse repurchase agreements and stock borrowing | 34,783 | - | 34,783 | 34,026 | - | 34,026 | 39,440 | - | 39,440 | ||
Loans and advances to banks | 63,951 | 2,112 | 66,063 | 72,373 | 83 | 72,456 | 83,310 | 87 | 83,397 | ||
Net loans and advances to customers | 430,088 | 1,863 | 431,951 | 423,155 | 19,409 | 442,564 | 454,112 | 19,405 | 473,517 | ||
Reverse repurchase agreements and stock borrowing | 70,047 | - | 70,047 | 63,909 | - | 63,909 | 61,494 | - | 61,494 | ||
Loans and advances to customers | 500,135 | 1,863 | 501,998 | 487,064 | 19,409 | 506,473 | 515,606 | 19,405 | 535,011 | ||
Debt securities | 157,438 | 7,186 | 164,624 | 177,722 | 31 | 177,753 | 209,080 | - | 209,080 | ||
Equity shares | 15,232 | 5 | 15,237 | 15,527 | 5 | 15,532 | 15,183 | 5 | 15,188 | ||
Settlement balances | 5,741 | - | 5,741 | 15,055 | - | 15,055 | 7,771 | 14 | 7,785 | ||
Derivatives | 441,903 | 15 | 441,918 | 468,171 | 366 | 468,537 | 529,618 | 439 | 530,057 | ||
Intangible assets | 13,545 | 750 | 14,295 | 14,798 | - | 14,798 | 14,858 | 15 | 14,873 | ||
Property, plant and equipment | 9,784 | 223 | 10,007 | 11,220 | 116 | 11,336 | 11,868 | 4,749 | 16,617 | ||
Deferred tax | 3,443 | - | 3,443 | 3,480 | - | 3,480 | 3,878 | - | 3,878 | ||
Other financial assets | - | 924 | 924 | 891 | - | 891 | 1,309 | - | 1,309 | ||
Prepayments, accrued income and other assets | 7,820 | 742 | 8,562 | 9,804 | 444 | 10,248 | 9,667 | 456 | 10,123 | ||
Assets of disposal groups | 14,013 | (13,838) | 175 | 20,667 | (20,503) | 164 | 25,450 | (25,297) | 153 | ||
Total assets | 1,312,295 | - | 1,312,295 | 1,376,894 | - | 1,376,894 | 1,506,867 | - | 1,506,867 | ||
For the notes to this page refer to page 3.
Appendix 3 Analysis of balance sheet pre and post disposal groups (continued)
31 December 2012 | 30 September 2012 | 31 December 2011 | |||||||||
Balance sheet | Disposal groups (1) | Gross of disposal groups |
| Balance sheet | Disposal groups (2) | Gross of disposal groups | Balance sheet | Disposal groups (3) | Gross of disposal groups | ||
£m | £m | £m | £m | £m | £m | £m | £m | £m | |||
Liabilities | |||||||||||
Bank deposits | 57,073 | 1 | 57,074 | 58,127 | 1 | 58,128 | 69,113 | 1 | 69,114 | ||
Repurchase agreements and stock lending | 44,332 | - | 44,332 | 49,222 | - | 49,222 | 39,691 | - | 39,691 | ||
Deposits by banks | 101,405 | 1 | 101,406 | 107,349 | 1 | 107,350 | 108,804 | 1 | 108,805 | ||
Customer deposits | 433,239 | 753 | 433,992 | 412,712 | 22,168 | 434,880 | 414,143 | 22,610 | 436,753 | ||
Repurchase agreements and stock lending | 88,040 | - | 88,040 | 93,343 | - | 93,343 | 88,812 | - | 88,812 | ||
Customer accounts | 521,279 | 753 | 522,032 | 506,055 | 22,168 | 528,223 | 502,955 | 22,610 | 525,565 | ||
Debt securities in issue | 94,592 | - | 94,592 | 104,157 | - | 104,157 | 162,621 | - | 162,621 | ||
Settlement balances | 5,878 | - | 5,878 | 14,427 | - | 14,427 | 7,477 | 8 | 7,485 | ||
Short positions | 27,591 | - | 27,591 | 32,562 | - | 32,562 | 41,039 | - | 41,039 | ||
Derivatives | 434,333 | 7 | 434,340 | 462,300 | 42 | 462,342 | 523,983 | 126 | 524,109 | ||
Accruals, deferred income and other liabilities | 14,801 | 2,679 | 17,480 | 18,458 | 449 | 18,907 | 23,125 | 1,233 | 24,358 | ||
Retirement benefit liabilities | 3,884 | - | 3,884 | 1,779 | - | 1,779 | 2,239 | - | 2,239 | ||
Deferred tax | 1,141 | - | 1,141 | 1,686 | - | 1,686 | 1,945 | - | 1,945 | ||
Insurance liabilities | - | 6,193 | 6,193 | 6,249 | - | 6,249 | 6,312 | - | 6,312 | ||
Subordinated liabilities | 26,773 | 529 | 27,302 | 25,309 | - | 25,309 | 26,319 | - | 26,319 | ||
Liabilities of disposal groups | 10,170 | (10,162) | 8 | 22,670 | (22,660) | 10 | 23,995 | (23,978) | 17 | ||
Total liabilities | 1,241,847 | - | 1,241,847 | 1,303,001 | - | 1,303,001 | 1,430,814 | - | 1,430,814 | ||
For the notes to this page refer to page 3.
Appendix 3 Analysis of balance sheet pre and post disposal groups (continued)
31 December 2012 | 30 September 2012 | 31 December 2011 | |||||||||
Balance sheet | Disposal groups (1) | Gross of disposal groups |
| Balance sheet | Disposal groups (2) | Gross of disposal groups | Balance sheet | Disposal groups (3) | Gross of disposal groups | ||
£m | £m | £m | £m | £m | £m | £m | £m | £m | |||
Selected financial data | |||||||||||
Gross loans and advances to customers | 451,224 | 1,875 | 453,099 | 443,356 | 20,188 | 463,544 | 473,872 | 20,196 | 494,068 | ||
Customer loan impairment provisions | (21,136) | (12) | (21,148) | (20,201) | (779) | (20,980) | (19,760) | (791) | (20,551) | ||
Net loans and advances to customers | 430,088 | 1,863 | 431,951 | 423,155 | 19,409 | 422,564 | 454,112 | 19,405 | 473,517 | ||
Gross loans and advances to banks | 29,282 | 2,112 | 31,394 | 38,464 | 83 | 38,547 | 43,993 | 87 | 44,080 | ||
Bank loan impairment provisions | (114) | - | (114) | (117) | - | (117) | (123) | - | (123) | ||
Net loans and advances to banks | 29,168 | 2,112 | 31,280 | 38,347 | 83 | 38,430 | 43,870 | 87 | 43,957 | ||
Total loan impairment provisions | (21,250) | (12) | (21,262) | (20,318) | (779) | (21,097) | (19,883) | (791) | (20,674) | ||
Customer REIL | 40,993 | 13 | 41,006 | 39,913 | 1,402 | 41,315 | 40,708 | 1,549 | 42,257 | ||
Bank REIL | 134 | - | 134 | 187 | - | 187 | 137 | - | 137 | ||
Total REIL | 41,127 | 13 | 41,140 | 40,100 | 1,402 | 41,502 | 40,845 | 1,549 | 42,394 | ||
Gross unrealised gains on debt securities | 3,946 | 230 | 4,176 | 4,517 | - | 4,517 | 4,978 | - | 4,978 | ||
Gross unrealised losses on debt securities | (1,832) | (15) | (1,847) | (2,052) | - | (2,052) | (3,408) | - | (3,408) | ||
Notes:
(1) | Primarily Direct Line Group. |
(2) | Primarily UK branch-based businesses (see Appendix 2). |
(3) | Primarily UK branch-based businesses, RBS Aviation Capital, sold in 2012, and remainder of RBS Sempra Commodities JV. |
Index
Page |
Analysis of results | |
Balance sheet | 28 |
Capital resources and ratios | 27 |
Funding & liquidity | 29 |
Impairment losses | 22 |
Net-interest income | 18 |
Non-interest income | 19 |
One-off and other items | 24 |
Operating expenses | 20, 92 |
Available-for-sale reserve | 125 |
Average balance sheet | 83 |
Balance sheet | |
Consolidated | 80 |
Summary | 9 |
Basis of preparation | 90 |
Business divestments | |
Businesses outlined for disposal | Appendix 2 |
Notes | 110 |
Capital | |
Analysis of results | 27 |
Capital resources | 155 |
Risk asset ratios | 154 |
Central items | 69 |
Consolidated financial statements | |
Consolidated balance sheet | 80 |
Consolidated cash flow statement | 89 |
Consolidated income statement | 78 |
Consolidated statement of changes in equity | 86 |
Consolidated statement of comprehensive income | 79 |
Notes | 90 |
Contacts | 4 |
Contingent liabilities and commitments | 125 |
Index (continued)
Page |
Debt securities | 194 |
Direct Line Group | 63 |
Discontinued operations | 110 |
Dividends | 100 |
Divisional performance | |
Central Items | 69 |
Direct Line Group | 63 |
International Banking | 46 |
Markets | 59 |
Non-Core | 71 |
UK Corporate | 38 |
UK Retail | 34 |
Ulster Bank | 50 |
US Retail & Commercial | 53 |
Wealth | 43 |
Earnings per share | 101 |
Employees | |
Costs | 93 |
Employee numbers | 33 |
Variable compensation | 94 |
Financial instruments | 113 |
Funded assets by division | 32 |
Group Chairman - letter to shareholders | 10 |
Group Chief Executive - letter to shareholders | 12 |
Highlights | 1 |
Impairment | |
Analysis of results | 22 |
Problem debt management | 202 |
Income by division | 31 |
Index (continued)
Page |
Income statement | |
Consolidated | 78 |
Core | 8 |
Summary | 7 |
International Banking | 46 |
Interest Rate Hedging Products redress and related costs | 93, 131 |
Litigation, investigations and reviews | 126 |
Markets | 59 |
Net interest income | 18 |
Non-Core | 71 |
Non-interest income | 19 |
One-off and other items | 24 |
Operating expenses | |
Analysis of results | 20 |
Notes | 92 |
Other developments | 138 |
Outlook | 3 |
Payment Protection Insurance | 93, 133 |
Post balance sheet events | 139 |
Presentation of information | 5 |
Regulatory fines | 93 |
Results presentation | 4 |
Index (continued)
Page |
Risk and balance sheet management | |
Capital | 152 |
Country risk | 243 |
Credit risk | 180 |
Liquidity, funding and related risks | 164 |
Market risk | 235 |
Risk principles | 142 |
Risk-weighted assets | |
By division | 32 |
Capital | 158 |
Segmental analysis | 102 |
Share consolidation | 100 |
Statement of changes in equity | 86 |
Statement of comprehensive income | 79 |
Strategic Plan | 16 |
Tax | 98 |
UK Corporate | 38 |
UK Retail | 34 |
Ulster Bank | 50 |
US Retail & Commercial | 53 |
Value-at-risk (VaR) | 177 |
Variable compensation | 94 |
Wealth | 43 |
Related Shares:
RBS.L