27th Sep 2005 07:02
Bank of Ireland(Governor&Co)27 September 2005 PART 2 8. Reconciliations 8.1 Summary Consolidated IFRS Income Statement for the year ended 31 March 2005 Continuing Exceptional Total Irish IFRS Impact IFRS Operations Items GAAP before exceptional items •m •m •m •m •mNet interest income 1,898 - 1,898 33 1,931Insurance net premium income - - - 1,791 1,791Fees and commissions income 1,200 - 1,200 (37) 1,163Fees and commissions expense (199) - (199) (64) (263)Net trading income 66 - 66 - 66Contribution from the life assurance 161 - 161 (161) -businessOther operating income 47 - 47 786 833Total operating income 3,173 - 3,173 2,348 5,521Insurance net claims - - - (2,222) (2,222)Total operating income net of insurance 3,173 - 3,173 126 3,299claimsOperating expenses (1,807) (117) (1,924) (127) (2,051)Operating profit before impairment losses 1,366 (117) 1,249 (1) 1,248Impairment losses on loans and advances (79) 100 21 - 21Operating profit 1,287 (17) 1,270 (1) 1,269Profit/loss on disposal of business - - - 11 11Other exceptional items - 5 5 (5) -Income from associated undertakings and 46 - 46 (16) 30joint venturesProfit before taxation 1,333 (12) 1,321 (11) 1,310Taxation (241) (15) (256)Profit for the period 1,080 (26) 1,054 Attributable to minority interests (1) - (1)Attributable to stockholders 1,081 (26) 1,055 1,080 (26) 1,054 Basic earnings per ordinary share 113.9 (2.8) 111.1 The IFRS adjustments are analysed on page 48. 8.2 Summary Consolidated Income Statement for the Half Year Ended 30September 2004 (Unaudited) Irish IFRS GAAP Impact IFRS •m •m •mNet interest income 922 19 941Insurance net premium income - 795 795Fees and commissions income 583 (21) 562Fees and commissions expense (84) (31) (115)Net trading income 33 - 33Contribution from the life assurance business 71 (71) -Other operating income 25 241 266Total operating income 1,550 932 2,482Insurance net claims - (875) (875)Total operating income net of insurance claims 1,550 57 1,607Operating expenses (875) (57) (932)Operating profit before impairment losses 675 - 675Impairment losses on loans and advances (28) - (28)Operating profit 647 - 647Profit/loss on disposal of business - 31 31Exceptional Items 37 (37) -Income from associated undertakings and joint ventures 29 (10) 19Profit before taxation 713 (16) 697Taxation (120) (1) (121)Profit for the period 593 (17) 576 Attributable to minority interests 5 - 5Attributable to ordinary stockholders 588 (17) 571 593 (17) 576 Basic earnings per ordinary share 62.0 (1.8) 60.2 The IFRS adjustments are analysed on page 49. 8.3 Consolidated Balance Sheet at 31 March 2005 Irish IFRS IFRS GAAP Impact •m •m •mAssetsCash and balances at central banks 1,600 13 1,613Items in the course of collection from other banks 560 - 560Central government and other eligible bills 92 1,515 1,607Loans and advances to banks 7,783 564 8,347Loans and advances to customers 79,917 (81) 79,836Net securitisation balances 35 (35) -Debt securities 21,321 1,390 22,711Equity shares 52 5,664 5,716Interests in associated undertakings 17 - 17Interests in joint ventures 61 - 61Intangible fixed assets - Goodwill 316 (97) 219Intangible fixed assets - Other - 573 573Investment property - 503 503Property, plant & equipment 1,236 (516) 720Deferred tax asset - 99 99Other assets 4,945 253 5,198Long-term assurance assets 8,529 (8,529) -Total assets 126,464 1,316 127,780 LiabilitiesDeposits by banks 20,254 611 20,865Customer accounts 60,265 (80) 60,185Items in the course of transmission to other banks 230 - 230Debt securities in issue 20,539 678 21,217Other liabilities 7,039 (283) 6,756Deferred taxation liabilities 72 140 212Other provisions 321 (141) 180Post-retirement benefit liabilities - 924 924Subordinated liabilities 4,086 - 4,086Life assurance liabilities attributable to policy holders 8,734 (21) 8,713Total liabilities 121,540 1,828 123,368 Shareholders' funds 4,789 (512) 4,277Minority interests 135 - 135Total equity and liabilities 126,464 1,316 127,780 8.4 Consolidated Balance Sheet at 30 September 2004 (Unaudited) Irish IFRS IFRS GAAP Impact •m •m •mAssetsCash and balances at central banks 2,044 18 2,062Items in the course of collection from other banks 593 - 593Central government and other eligible bills 73 1,277 1,350Loans and advances to banks 8,187 472 8,659Loans and advances to customers 72,791 (48) 72,743Net securitisation balances 105 (105) -Debt securities 18,981 1,491 20,472Equity shares 55 5,105 5,160Interests in associated undertakings 15 - 15Interest in joint ventures 48 - 48Intangible fixed assets - Goodwill 285 (108) 177Intangible fixed assets - Other - 530 530Investment property - 442 442Property, plant & equipment 1,227 (514) 713Deferred tax asset - 87 87Other assets 4,409 219 4,628Long-term assurance assets 7,524 (7,524) -Total assets 116,337 1,342 117,679 LiabilitiesDeposits by banks 19,562 712 20,274Customer accounts 56,740 (189) 56,551Items in the course of transmission to other banks 119 - 119Debt securities in issue 17,603 857 18,460Other liabilities 6,059 (418) 5,641Deferred taxation liabilities 88 116 204Other provisions - - -Post-retirement benefit liabilities - 741 741Subordinated liabilities 3,651 - 3,651Life assurance liabilities attributable to policy holders 7,729 5 7,734Total liabilities 111,551 1,824 113,375 Shareholders' funds 4,597 (482) 4,115Minority interests 189 - 189Total equity and liabilities 116,337 1,342 117,679 8.5 Consolidated Opening Balance Sheet at 1 April 2004 Irish Effect of IFRS GAAP IFRS •m •m •mAssetsCash and balances at central banks 1,397 18 1,415Items in the course of collection from other banks 584 - 584Central government and other eligible bills 211 1,217 1,428Loans and advances to banks 7,753 456 8,209Loans and advances to customers 67,540 (65) 67,475Net Securitisation Balances 108 (108) -Debt securities 15,676 1,559 17,235Equity shares 64 4,583 4,647Interests in associated undertakings 14 - 14Interests in Joint Ventures 243 - 243Intangible fixed assets - Goodwill 147 - 147Intangible fixed assets - Other - 413 413Investment property - 430 430Property, plant & equipment 1,268 (508) 760Deferred tax asset - 76 76Other assets 4,457 257 4,714Long-term assurance assets 6,969 (6,969) -Total assets 106,431 1,359 107,790 LiabilitiesDeposits by banks 17,060 707 17,767Customer accounts 54,395 (211) 54,184Items in the course of transmission to other banks 230 - 230Debt securities in issue 12,917 886 13,803Other liabilities 6,297 (310) 5,987Deferred taxation liabilities 66 127 193Other provisions 221 (157) 64Post-retirement benefit liabilities - 478 478Subordinated liabilities 3,682 - 3,682Life assurance liabilities attributable to policy holders 7,152 12 7,164Total liabilities 102,020 1,532 103,552 Stockholders' funds 4,281 (173) 4,108Minority interests 130 - 130Total equity and liabilities 106,431 1,359 107,790 8.6 IFRS Consolidated Opening Balance Sheet at 1 April 2005 IFRS IFRS IFRS Opening 31/3/2005 Transition 01/04/2005 Impact •m •m •mAssetsCash and balances at central banks 1,613 - 1,613Items in the course of collection from other banks 560 - 560Central government and other eligible bills 1,607 (1,599) 8Trading Securities - 1,030 1,030Derivative financial instruments - 2,277 2,277Assets at fair value through profit and loss - 8,115 8,115Loans and advances to banks 8,347 - 8,347Loans and advances to customers 79,836 152 79,988Debt securities 22,711 (22,711) -Equity shares 5,716 (5,716) -Available for sale financial assets - 16,971 16,971Pledged Assets - 3,870 3,870Interest in associated undertakings 17 - 17Interests in joint ventures 61 - 61Intangible assets - Goodwill 219 - 219Intangible assets - Other 573 - 573Investment property 503 - 503Property, plant & equipment 720 6 726Deferred tax asset 99 (44) 55Other assets 5,198 (2,115) 3,083Total assets 127,780 236 128,016LiabilitiesDeposits by banks 20,865 - 20,865Customer accounts 60,185 (115) 60,070Items in the course of transmission to other banks 230 - 230Derivative financial instruments - 2,167 2,167Liabilities to customers under investment contracts - 4,917 4,917Debt securities in issue 21,217 26 21,243Insurance contract liabilities - 3,785 3,785Other liabilities 6,756 (1,842) 4,914Deferred taxation liabilities 212 (68) 144Other provisions 180 - 180Post-retirement benefit liabilities 924 - 924Subordinated liabilities 4,086 145 4,231Life assurance liabilities attributable to policy holders 8,713 (8,713) -Total liabilities 123,368 302 123,670 Stockholders' funds 4,277 10 4,287Minority interests 135 (76) 59Total equity and liabilities 127,780 236 128,016 8.7 Consolidated Summary of IFRS Income Adjustments for Year Ended 31 March 2005 Consolidation Irish GAAP New Insurance Leasing Employee Software & •m Entities Businesses (h) benefits Intangibles (a) (b) (e) (g) Net interest income 1,898 20 12 1 - - Insurance premium income - - 1,791 - - - net Fees and commissions income 1,200 (4) (29) (4) - - Fees and commissions (199) (5) (59) - - - expense Net trading income 66 - - - - Contribution from the life 161 - (161) - - - assurance business Other operating income 47 (2) 779 - - - Total operating Income 3,173 9 2,333 (3) - - Insurance claims, net - - (2,222) - - - Administrative expenses (1,738) (1) (84) - (8) - Depreciation of property, (161) - - - - 85 plant and equipment Amortisation/impairment of (25) - - - - (85) goodwill and Intangibles Total operating expenses (1,924) (1) (84) - (8) - Operating profit before 1,249 8 27 (3) (8) - impairment losses Impairment losses on loans 21 - - - - - and advances Operating profit 1,270 8 27 (3) (8) - Income from associated 46 - - - - - undertakings and joint ventures Exceptional items 5 - - - - - Profit/loss on disposal of - - - - - - businesses Profit before taxation 1,321 8 27 (3) (8) - Taxation (241) - (27) (5) - - Profit for the period 1,080 8 - (8) (8) - Profit attributable to (1) - - - - - minority interests Profit attributable to 1,081 8 - (8) (8) - stockholders 1,080 8 - (8) (8) - Goodwill (d) Pension (f) Other (j) & Total IFRS (k) adjustments IFRS •m •m Net interest income - - - 33 1,931 Insurance premium income net - - - 1,791 1,791 Fees and commissions income - - - (37) 1,163 Fees and commissions expense - - - (64) (263) Net trading income - - - - 66 Contribution from the life - - - (161) - assurance business Other operating income - - 9 786 833 Total operating Income - - 9 2,348 5,521 Insurance claims, net - - - (2,222) (2,222) Administrative expenses - (28) (15) (136) (1,874) Depreciation of property, plant - - - 85 (76) and equipment Amortisation/impairment of 13 - (4) (76) (101) goodwill and Intangibles Total operating expenses 13 (28) (19) (127) (2,051) Operating profit before 13 (28) (10) (1) 1,248 impairment losses Impairment losses on loans and - - - - 21 advances Operating profit 13 (28) (10) (1) 1,269 Income from associated - - (16) (16) 30 undertakings and joint ventures Exceptional items - - (5) (5) - Profit/loss on disposal of - - 11 11 11 businesses Profit before taxation 13 (28) (20) (11) 1,310 Taxation - 5 12 (15) (256) Profit for the period 13 (23) (8) (26) 1,054 Profit attributable to minority - - - - (1) interests Profit attributable to 13 (23) (8) (26) 1,055 stockholders 13 (23) (8) (26) 1,054 8.7 Consolidated Summary of IFRS Income Adjustments for Half Year 30 September 2004 (Unaudited) Consolidation Irish GAAP New Entities Insurance Leasing Employee Software & •m (a) Businesses (h) benefits Intangibles (b) (e) (g) Net interest income 922 10 6 3 - - Insurance premium income - - 795 - - - net Fees and commissions income 583 (3) (13) (5) - - Fees and commissions (84) (1) (30) - - - expense Net trading income 33 - - - - - Contribution from the life 71 - (71) - - - assurance business Other operating income 25 - 235 - - - Total operating income 1,550 6 922 (2) - - Insurance claims, net - - (875) - - - Administrative expenses (787) (2) (38) - (4) - Depreciation of property, (88) - - - - 35 plant and equipment Amortisation/impairment of - - - - - (35) goodwill and Intangibles Total operating expenses (875) (2) (38) - (4) - Operating profit before 675 4 9 (2) (4) - impairment losses Impairment losses on loans (28) - - - - - and advances Operating profit 647 4 9 (2) (4) - Income from associated 29 - - - - - undertakings and joint ventures Profit on disposal of - - - - - - businesses Exceptional items 37 - - - - - Profit before taxation 713 4 9 (2) (4) - Taxation (120) - (9) (4) - - Profit for the period 593 4 - (6) (4) - Profit attributable to 5 - - - - - minority interests Profit attributable to 588 4 - (6) (4) - stockholders 593 4 - (6) (4) - Goodwill (d) Pension (f) Other (j) & Total IFRS (k) adjustments IFRS •m •m Net interest income - - - 19 941 Insurance premium income net - - - 795 795 Fees and commissions income - - - (21) 562 Fees and commissions expense - - - (31) (115) Net trading income - - - - 33 Contribution from the life - - - (71) - assurance business Other operating income - - 6 241 266 Total operating income - - 6 932 2,482 Insurance claims, net - - - (875) (875) Administrative expenses - (15) (5) (64) (851) Depreciation of property, plant 6 - 1 42 (46) and equipment Amortisation/impairment of - - - (35) (35) goodwill and Intangibles Total operating expenses 6 (15) (4) (57) (932) Operating profit before 6 (15) 2 - 675 impairment losses Impairment losses on loans and - - - - (28) advances Operating profit 6 (15) 2 - 647 Income from associated - - (10) (10) 19 undertakings and joint ventures Profit on disposal of businesses - - 31 31 31 Exceptional items - - (37) (37) - Profit before taxation 6 (15) (14) (16) 697 Taxation - 2 10 (1) (121) Profit for the period 6 (13) (4) (17) 576 Profit attributable to minority - - - - 5 interests Profit attributable to 6 (13) (4) (17) 571 stockholders 6 (13) (4) (17) 576 8.8 Consolidated Summary of IFRS Balance Sheet Impacts Balance Sheet IFRS Reconciliation 31 March 2005 Assets Irish GAAP Consolidation Leasing Employee Software & benefits Intangibles •m New Entities (a) Insurance (h) (e) (g) Businesses (b) Cash and balances 1,600 10 - - - - at central banks Items in the 560 - - - - - course of collection from other banks Central government 92 - 1,515 - - - and other eligible bills Loans and advances 7,783 - 567 - - - to banks Loans and advances 79,917 (65) - (16) - - to customers Net securitisation 35 (35) - - - - balances Debt securities 21,321 1,244 146 - - - Equity shares 52 - 5,664 - - - Interests in 17 - - - - - associated undertakings Interests in joint 61 - - - - - ventures Intangible assets 316 - - - - - - Goodwill Intangible assets - - - - - 464 - Other Investment - - 503 - - - property Property, plant & 1,236 - - - - (464) equipment Deferred tax asset - - - 6 - - (j) Other assets 4,945 8 136 - - - Life assurance 8,529 - (8,529) - - - assets attributable to the policyholders Total assets 126,464 1,162 2 (10) - - Assets Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) •m Cash and balances at central banks - - - 3 1,613 Items in the course of collection from other banks - - - - 560 Central government and other eligible bills - - - - 1,607 Loans and advances to banks - - - (3) 8,347 Loans and advances to customers - - - - 79,836 Net securitisation balances - - - - - Debt securities - - - - 22,711 Equity shares - - - - 5,716 Interests in associated undertakings - - - - 17 Interests in joint ventures - - - - 61 Intangible assets - Goodwill (97) - - - 219 Intangible assets - Other 109 - - - 573 Investment property - - - - 503 Property, plant & equipment - - - (52) 720 Deferred tax asset (j) - - 104 (11) 99 Other assets - - (42) 151 5,198 Life assurance assets attributable to the policyholders - - - - - Total assets 12 - 62 88 127,780 Balance Sheet IFRS Reconciliation 31 March 2005 Equity and Irish GAAP Consolidation Leasing Employee Software & liabilities benefits Intangibles •m New Entities (a) Insurance (h) (e) (g) Businesses (b) Deposits by banks 20,254 611 - - - - Customer accounts 60,265 (80) - - - - Items in the 230 - - - - - course of transmission to other banks Debt securities in 20,539 678 - - - - issue Other liabilities 7,039 8 6 (51) (3) - Deferred tax 72 - - (3) - - liabilities (j) Other provisions 321 - - - - - Post retirement - - - - - - benefit obligations (f) Subordinated 4,086 - - - - - liabilities Life assurance 8,734 - (4) - - - liabilities attributable to policy holders Total liabilities 121,540 1,217 2 (54) (3) - Equity Share capital 663 - - - - - Share premium 765 - - - - - account Capital reserve 561 - - - - - Retained profits 2,772 (55) - 44 3 - Revaluation 234 - - - - - reserve Own shares held (206) - - - - - for the benefit of life assurance policyholders Stockholders funds 4,789 (55) - 44 3 - Minority interests 135 - - - - - Total equity and 126,464 1,162 2 (10) - - liabilities Equity and liabilities Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) • m Deposits by banks - - - - 20,865 Customer accounts - - - - 60,185 Items in the course of transmission to other banks - - - - 230 Debt securities in issue - - - - 21,217 Other liabilities - (282) - 39 6,756 Deferred tax liabilities (j) - - (26) 169 212 Other provisions - - (141) - 180 Post retirement benefit obligations (f) - - 924 - 924 Subordinated liabilities - - - - 4,086 Life assurance liabilities attributable to policy - - - (17) 8,713 holders Total liabilities - (282) 757 191 123,368 Equity Share capital - - - - 663 Share premium account - - - - 765 Capital reserve - - - - 561 Retained profits 12 282 (695) (27) 2,336 Revaluation reserve - - - (76) 158 Own shares held for the benefit of life assurance - - - - (206) policyholders Stockholders funds 12 282 (695) (103) 4,277 Minority interests - - - - 135 Total equity and liabilities 12 - 62 88 127,780 Balance Sheet IFRS Reconciliation 30 September 2004 (Unaudited) Assets Irish GAAP Consolidation Leasing Employee Software & benefits Intangibles • m New Entities (a) Insurance (h) (e) (g) Businesses (b) Cash and balances 2,044 18 - - - - at central banks Items in the 593 - - - - - course of collection from other banks Central government 73 - 1,277 - - - and other eligible bills Loans and advances 8,187 13 459 - - - to banks Loans and advances 72,791 (33) - (15) - - to customers Net securitisation 105 (105) - - - - balances Debt securities 18,981 1,365 126 - - - Equity shares 55 - 5,105 - - - Interests in 15 - - - - - associated undertakings Interests in joint 48 - - - - - ventures Intangible assets 285 - - - - - - Goodwill Intangible assets - - - - - 416 - Other Investment - - 442 - - - property Property, plant & 1,227 - - - - (416) equipment Deferred tax asset - - - 6 - - (j) Other assets 4,409 (10) 124 - - - Life assurance 7,524 (7,524) - - - assets attributable to the policyholders Total assets 116,337 1,248 9 (9) - - Assets Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) • m Cash and balances at central banks - - - - 2,062 Items in the course of collection from other banks - - - - 593 Central government and other eligible bills - - - - 1,350 Loans and advances to banks - - - - 8,659 Loans and advances to customers - - - - 72,743 Net securitisation balances - - - - - Debt securities - - - - 20,472 Equity shares - - - - 5,160 Interests in associated undertakings - - - - 15 Interests in joint ventures - - - - 48 Intangible assets - Goodwill (108) - - - 177 Intangible assets - Other 114 - - - 530 Investment property - - - - 442 Property, plant & equipment - - - (98) 713 Deferred tax asset (j) - - 70 11 87 Other assets - - (33) 138 4,628 Life assurance assets attributable to the policyholders - - - - - Total assets 6 - 37 88 117,679 Balance Sheet IFRS Reconciliation 30 September 2004 (Unaudited) Liabilities Irish GAAP Consolidation Leasing Employee Software & benefits Intangibles • m New Entities (a) Insurance (h) (e) (g) Businesses (b) Deposits by banks 19,562 712 - - - - Customer accounts 56,740 (189) - - - - Items in the 119 - - - - - course of transmission to other banks Debt securities in 17,603 857 - - - - issue Other liabilities 6,059 (73) 13 (53) (1) - Deferred tax 88 - - (3) - - liabilities (j) Other provisions - - - - - - Post retirement - - - - - - benefit obligations (f) Subordinated 3,651 - - - - - liabilities Life assurance 7,729 - (4) - - - liabilities attributable to policy holders Total liabilities 111,551 1,307 9 (56) (1) - Equity Share capital 679 - - - - - Share premium 765 - - - - - account Capital reserve 552 - - - - - Retained profits 2,572 (59) - 47 1 - Revaluation 234 - - - - - reserve Own shares held (205) - - - - - for the benefit of life assurance policyholders Stockholders funds 4,597 (59) - 47 1 - Minority interests 189 - - - - - Total equity and 116,337 1,248 9 (9) - - liabilities Liabilities Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) • m Deposits by banks - - - - 20,274 Customer accounts - - - - 56,551 Items in the course of transmission to other banks - - - - 119 Debt securities in issue - - - - 18,460 Other liabilities - (160) (180) 36 5,641 Deferred tax liabilities (j) - - (24) 143 204 Other provisions - - - - - Post retirement benefit obligations (f) - - 741 - 741 Subordinated liabilities - - - - 3,651 Life assurance liabilities attributable to policy - - - 9 7,734 holders Total liabilities - (160) 537 188 113,375 Equity Share capital - - - - 679 Share premium account - - - - 765 Capital reserve - - - 2 554 Retained profits 6 160 (500) (20) 2,207 Revaluation reserve - - - (119) 115 Own shares held for the benefit of life assurance - - - - (205) policyholders Stockholders funds 6 160 (500) (137) 4,115 Minority interests - - - - 189 Total equity and liabilities 6 - 37 15 117,679 Balance Sheet IFRS Reconciliation 1 April 2004 Assets Irish GAAP Consolidation Leasing Employee Software & benefits Intangibles • m New Entities (a) Insurance (h) (e) (g) Businesses (b) Cash and balances 1,397 18 - - - - at central banks Items in the 584 - - - - - course of collection from other banks Central government 211 - 1,217 - - - and other eligible bills Loans and advances 7,753 - 456 - - - to banks Loans and advances 67,540 (52) - (13) - - to customers Net securitisation 108 (108) - - - - balances Debt securities 15,676 1,407 152 - - - Equity shares 64 - 4,583 - - - Interests in 14 - - - - - associated undertakings Interests in joint 243 - - - - - ventures Intangible assets 147 - - - - - - Goodwill Intangible assets - - - - - 413 - Other Investment - - 430 - - - property Property, plant & 1,268 - - - - (413) equipment Deferred tax asset - - - 6 - - (j) Other assets 4,457 (12) 140 - - - Life assurance 6,969 - (6,969) - - - assets attributable to the policyholders Total assets 106,431 1,253 9 (7) - - Assets Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) • m Cash and balances at central banks - - - - 1,415 Items in the course of collection from other banks - - - - 584 Central government and other eligible bills - - - - 1,428 Loans and advances to banks - - - - 8,209 Loans and advances to customers - - - - 67,475 Net securitisation balances - - - - - Debt securities - - - - 17,235 Equity shares - - - - 4,647 Interests in associated undertakings - - - - 14 Interests in joint ventures - - - - 243 Intangible assets - Goodwill - - - - 147 Intangible assets - Other - - - - 413 Investment property - - - - 430 Property, plant & equipment - - - (95) 760 Deferred tax asset (j) - - 46 24 76 Other assets - - (33) 162 4,714 Life assurance assets attributable to the policyholders - - - - - Total assets - - 13 91 107,790 Balance Sheet IFRS Reconciliation 1 April 2004 Liabilities Irish GAAP Consolidation Leasing Employee Software & benefits Intangibles • m New Entities (a) Insurance (h) (e) (g) Businesses (b) Deposits by banks 17,060 707 - - - - Customer accounts 54,395 (211) - - - - Items in the 230 - - - - - course of transmission to other banks Debt securities in 12,917 886 - - - - issue Other liabilities 6,297 (66) 12 (57) - - Deferred tax 66 - - (2) - - liabilities (j) Other provisions 221 - - - - - Post retirement - - - - - - benefit obligations (f) Subordinated 3,682 - - - - - liabilities Life assurance 7,152 - (3) - - - liabilities attributable to policy holders Total liabilities 102,020 1,316 9 (59) - - Equity Share capital 679 - - - - - Share premium 767 - - - - - account Capital reserve 498 - - - - - Retained profits 2,281 (63) - 52 - - Revaluation 239 - - - - - reserve Own shares held (183) - - - - - for the benefit of life assurance policyholders Stockholder's 4,281 (63) - 52 - - funds Minority interests 130 - - - - - Total equity and 106,431 1,253 9 (7) - - liabilities Liabilities Goodwill Dividend Pension Other IFRS (d) (i) (f) (j) & (k) • m Deposits by banks - - - - 17,767 Customer accounts - - - - 54,184 Items in the course of transmission to other banks - - - - 230 Debt securities in issue - - - - 13,803 Other liabilities - (257) - 58 5,987 Deferred tax liabilities (j) - - (22) 151 193 Other provisions - - (157) - 64 Post retirement benefit obligations (f) - - 478 - 478 Subordinated liabilities - - - - 3,682 Life assurance liabilities attributable to policy - - - 15 7,164 holders Total liabilities - (257) 299 224 103,552 Equity Share capital - - - - 679 Share premium account - - - - 767 Capital reserve - - - 5 503 Retained profits - 257 (286) (21) 2,220 Revaluation reserve - - - (117) 122 Own shares held for the benefit of life assurance - - - - (183) policyholders Stockholder's funds - 257 (286) (133) 4,108 Minority interests - - - - 130 Total equity and liabilities - - 13 91 107,790 IFRS Opening Balance Sheet Reconciliation 1 APRIL 2005 IFRS 31 Reclassification Effective Fair Hedging Life Debt/ March of financial interest value activities Assurance equity 2005 instruments rates (p) option (l) (n) • m (m) Assets - - - - - - - Cash and balances at 1,613 - - - - - - central banks Items in the course 560 - - - - - - of collection from other banks Central government 1,607 - - (1,599) - - - and other eligible bills Trading securities - 1,030 - - - - Derivative financial - 1,859 - 92 326 - - instruments Other financial - - - 8,146 - (31) - assets at fair value through profit and loss Loans and advances 8,347 - - - - - to banks Loans and advances 79,836 111 41 - - - to customers Debt securities 22,711 (21,871) - (871) - 31 - Equity shares 5,716 (52) - (5,664) - - - Available-for-sale - 16,886 - - 85 - - financial assets Pledged assets - 3,870 - - - - - Interests in 17 - - - - - - associated undertakings Interests in joint 61 - - - - - - ventures Intangible assets - 219 - - - - - - Goodwill Intangible assets - 573 - - - - - - Other Investment Property 503 - - - - - - Property, plant & 720 - - - - 6 - equipment Deferred tax asset 99 (10) (5) - 3 - - Other assets 5,198 (1,839) 7 1 1 (285) - Total assets 127,780 (16) 43 105 415 (279) - Other Total adjustments on adoption of Opening IFRS Balance Sheet 1 IAS 32, 39 and IFRS 4 April 2005 • m • m Assets - - Cash and balances at central banks - - 1,613 Items in the course of collection from - - 560 other banks Central government and other eligible - (1,599) 8 bills Trading securities - 1,030 1,030 Derivative financial instruments - 2,277 2,277 Other financial assets at fair value - 8,115 8,115 through profit and loss Loans and advances to banks - - 8,347 Loans and advances to customers - 152 79,988 Debt securities - (22,711) - Equity shares - (5,716) - Available-for-sale financial assets - 16,971 16,971 Pledged assets - 3,870 3,870 Interests in associated undertakings - - 17 Interests in joint ventures - - 61 Intangible assets - Goodwill - - 219 Intangible assets - Other - - 573 Investment Property - - 503 Property, plant & equipment - 6 726 Deferred tax asset (32) (44) 55 Other assets - (2,115) 3,083 Total assets (32) 236 128,016 IFRS Opening Balance Sheet Reconciliation 1 APRIL 2005 IFRS 31 Reclassification Effective Fair Hedging Life Debt/ March 2005 of financial interest value activities Assurance equity • m instruments (m) rates (p) option (l) (n) Liabilities - - - - - - Deposits by 20,865 - - - - - - banks Customer 60,185 - - (115) - - - accounts Items in the 230 - - - - - - course of transmission to other banks Derivative - 1,694 - 194 279 - - financial instruments and other trading liabilities Liabilities to - - - - 4,917 - customers under investment contracts Debt securities 21,217 - - - 26 - in issue Insurance - - - - 3,785 - contract liabilities Other 6,756 (1,829) 13 (1) (73) 54 - liabilities Deferred tax 212 (8) 10 2 - (48) - liabilities Other provisions 180 - - - - - - Post retirement 924 - - - - - - benefit obligations Subordinated 4,086 - - - 186 - (41) liabilities Life assurance 8,713 - - 23 - (8,736) - liabilities attributable to policy holders Total 123,368 (143) 23 103 418 (28) (41) liabilities Equity Share capital 663 - - - - - - Share premium 765 - - - - - - account Capital reserve 561 - - - - (251) - Retained profits 2,336 4 20 2 (76) - - Revaluation 158 - - - - - - Reserve Cash flow hedge - - - - 67 - - reserve Available for - 123 - - 6 - - sale reserve Other equity - - - - - - 114 reserves Own shares held (206) - - - - - - for the benefit of life assurance policyholders Stockholders 4,277 127 20 2 (3) (251) 114 funds Minority 135 - - - - (73) interests Total equity and 127,780 (16) 43 105 415 (279) - liabilities Other Total adjustments on adoption of Opening IFRS Balance Sheet IAS 32, 39 and IFRS 4 1 April 2005 • m • m Liabilities - - Deposits by banks - - 20,865 Customer accounts - (115) 60,070 Items in the course of transmission to - - 230 other banks Derivative financial instruments and - 2,167 2,167 other trading liabilities Liabilities to customers under - 4,917 4,917 investment contracts Debt securities in issue - 26 21,243 Insurance contract liabilities - 3,785 3,785 Other liabilities (6) (1,842) 4,914 Deferred tax liabilities (24) (68) 144 Other provisions - - 180 Post retirement benefit obligations - - 924 Subordinated liabilities - 145 4,231 Life assurance liabilities - (8,713) - attributable to policy holders Total liabilities (30) 302 123,670 Equity Share capital - - 663 Share premium account - - 765 Capital reserve - (251) 310 Retained profits (7) (57) 2,279 Revaluation Reserve - - 158 Cash flow hedge reserve - 67 67 Available for sale reserve 8 137 137 Other equity reserves - 114 114 Own shares held for the benefit of - - (206) life assurance policyholders Stockholders funds 1 10 4,287 Minority interests (3) (76) 59 Total equity and liabilities (32) 236 128,016 9.0 Pro-forma Segmental Information (Unaudited) Year ended 31 March 2005 Retail Wholesale UK Asset UK Post Group & Total Republic BOI Financial Financial Management Office Central of Life Services Services Services Financial Ireland Services •m •m •m •m •m •m •m •mNet interest income 1,020 11 324 621 4 6 (15) 1,971Other income 302 1,320 294 197 252 1 7 2,373Total operating income 1,322 1,331 618 818 256 7 (8) 4,344Insurance claims - (1,134) - - - - (6) (1,140)Total operating income, net of insurance 1,322 197 618 818 256 7 (14) 3,204claimsOperating expenses (806) (90) (252) (482) (131) (54) (108) (1,923)Impairment losses on loans & advances (51) - (38) 14 - (4) - (79)Share of operating profit from associates (2) - 37 - - (5) - 30Profit before taxation 463 107 365 350 125 (56) (122) 1,232Exceptional items (12) 1,220Taxation (237)Profit for the period 983Minority Interests & Non Cumulative (3)Preference Share DividendsProfit attributable to Ordinary 980shareholdersEPS Basic 103.9 Half-year ended 30th September 2004 Retail Wholesale UK Asset UK Post Group & Total Republic BOI Financial Financial Management Office Central of Life Services Services Services Financial Ireland Services30th September 2004 •m •m •m •m •m •m •m •mNet interest income 493 5 152 317 2 1 (9) 961Other income 151 483 136 92 133 2 5 1,002Total operating income 644 488 288 409 135 3 (4) 1,963Insurance claims - (389) - - - - (6) (395)Total operating income, net of insurance 644 99 288 409 135 3 (10) 1,568claimsOperating expenses (392) (46) (119) (244) (65) (18) (48) (932)Impairment losses on loans & advances (23) - (18) 14 - (1) - (28)Share of operating profit from associates (1) - 24 - - (4) - 19Profit before taxation 228 53 175 179 70 (20) (58) 627Exceptional items 37 664Taxation (118)Profit for the period 546Minority Interests & Non Cumulative (7)Preference Share DividendsProfit attributable to Ordinary 539shareholders 57.2 RECONCILIATION OF PRO-FORMA CONSOLIDATED INCOME STATEMENTFOR YEAR ENDED 31st March 2005 (Unaudited) IFRS Effective Debt/Equity Life IFRS Interest Rate ProformaNet interest income 1,931 44 (4) - 1,971Other income 3,577 (68) - (1,136) 2,373Total operating income 5,508 (24) (4) (1,136) 4,344Insurance claims (2,222) - - 1,082 (1,140)Total operating Income net of Insurance 3,286 (24) (4) (54) 3,204ClaimsOperating expenses (1,915) (8) - - (1,923)Impairment losses on loans & advances (79) - - - (79)Income from associates and joint 30 - - - 30venturesExceptional items (12) - - - (12)Profit before taxation 1,310 (32) (4) (54) 1,220Taxation (256) 7 - 12 (237)Profit for the period 1,054 (25) (4) (42) 983Minority Interests & Non Cumulative (7) - 4 - (3)Preference Share DividendsProfit attributable to Ordinary 1,047 (25) - (42) 980shareholdersEPS Basic 111.1 103.9 RECONCILIATION OF PRO-FORMA CONSOLIDATED INCOME STATEMENT FOR HALF YEAR ENDED30th September 2004 (Unaudited) IFRS Effective Debt/Equity Life IFRS Interest Rate ProformaNet interest income 941 22 (2) - 961Other income 1,532 (37) - (493) 1,002Total operating income 2,473 (15) (2) (493) 1,963Insurance claims (875) - - 480 (395)Total operating Income net of Insurance 1,598 (15) (2) (13) 1,568ClaimsOperating expenses (929) (3) - - (932)Impairment losses on loans & advances (28) - - - (28)Income from associates and joint 19 - - - 19venturesExceptional items 37 - - - 37Profit before taxation 697 (18) (2) (13) 664Taxation (121) 4 - (1) (118)Profit for the period 576 (14) (2) (14) 546Minority Interests & Non Cumulative (9) - 2 - (7)Preference Share DividendsProfit attributable to Ordinary 567 (14) - (14) 539shareholdersEPS Basic 60.2 57.2 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BKIR.L