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Interim Management Statement Part 9 of 10

7th May 2010 07:00

RNS Number : 5064L

Royal Bank of Scotland Group PLC

07 May 2010

Appendix 2

Analysis by quarter

Appendix 2 Analysis by quarter

Summary consolidated income statement - pro forma

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Net interest income	3,538	3,322	3,261	3,446	3,534	-	3%

Non-interest income (excluding insurance net premium income)	3,776	1,498	2,532	2,786	4,131	9%	48%
Insurance net premium income	1,356	1,301	1,301	1,308	1,289	(5%)	(1%)

Non-interest income	5,132	2,799	3,833	4,094	5,420	6%	32%

Total income	8,670	6,121	7,094	7,540	8,954	3%	19%
Operating expenses	(4,667)	(4,066)	(4,195)	(4,473)	(4,430)	(5%)	(1%)

Profit before other operating charges	4,003	2,055	2,899	3,067	4,524	13%	48%
Insurance net claims	(966)	(925)	(1,145)	(1,321)	(1,136)	18%	(14%)

Operating profit before impairment losses	3,037	1,130	1,754	1,746	3,388	12%	94%
Impairment losses	(2,858)	(4,663)	(3,279)	(3,099)	(2,675)	(6%)	(14%)

Group operating profit/(loss)*	179	(3,533)	(1,525)	(1,353)	713	-	(153%)
Amortisation of purchased intangible assets	(85)	(55)	(73)	(59)	(65)	(24%)	10%
Integration and restructuring costs	(379)	(355)	(324)	(228)	(168)	(56%)	(26%)
Strategic disposals	241	212	(155)	(166)	53	(78%)	(132%)
Bonus tax	-	-	-	(208)	(54)	-	(74%)
Gain on redemption of own debt	-	3,790	-	-	-	-	-
Asset Protection Scheme credit default swap - fair value changes	-	-	-	-	(500)	-	-
Gains on pensions curtailment	-	-	-	2,148	-	-	-

(Loss)/profit before tax	(44)	59	(2,077)	134	(21)	(52%)	(116%)
Tax	(228)	640	576	(649)	(106)	(54%)	(84%)

(Loss)/profit from continuing operations	(272)	699	(1,501)	(515)	(127)	(53%)	(75%)
Loss from discontinued operations, net of tax	(45)	(13)	(7)	(7)	(4)	(91%)	(43%)

(Loss)/profit for the period	(317)	686	(1,508)	(522)	(131)	(59%)	(75%)
Minority interests	(471)	(83)	(47)	(47)	(12)	(97%)	(74%)
Preference share and other dividends	(114)	(432)	(245)	(144)	(105)	(8%)	(27%)

(Loss)/profit attributable to ordinary shareholders before write-down of goodwill and other intangible assets	(902)	171	(1,800)	(713)	(248)	(73%)	(65%)
Write-down of goodwill and other intangible assets, net of tax	-	(311)	-	(52)	-	-	-
Loss attributable to ordinary shareholders	(902)	(140)	(1,800)	(765)	(248)	(73%)	(68%)

*profit/(loss) before tax, amortisation of purchased intangible assets, integration and restructuring costs, strategic disposals, bonus tax, gain on redemption of own debt, Asset Protection Scheme credit default swap - fair value changes, gains on pensions curtailment and write-down of goodwill and other intangible assets.

Appendix 2 Analysis by quarter

Summary consolidated income statement - pro forma (continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Net interest margin	1.78%	1.70%	1.75%	1.83%	1.92%	14bp	9bp
Cost:income ratio	54%	66%	59%	59%	49%	(435bp)	(984bp)
Risk-weighted assets - gross	£575.7bn	£547.3bn	£594.7bn	£565.8bn	£585.5bn	2%	3%
Benefit of APS	-	-	-	(£127.6bn)	(£124.8bn)	-	(2%)
Risk-weighted assets	£575.7bn	£547.3bn	£594.7bn	£438.2bn	£460.7bn	(20%)	5%
Loan:deposit ratio (Group - net of provisions)	151%	143%	139%	135%	131%	(1,998bp)	(361bp)
Risk elements In lending	£23.7bn	£30.7bn	£35.0bn	£35.0bn	£36.5bn	54%	4%
Provision balance as % of REIL/PPL*	45%	44%	43%	42%	45%	-	300bp

* includes disposal groups.

Appendix 2 Analysis by quarter

Divisional performance

The operating profit/(loss) of each division before amortisation of purchased intangible assets, integration and restructuring costs, strategic disposals, bonus tax, Asset Protection Scheme credit default swap - fair value changes, gains on pensions curtailments and write-down of goodwill and other intangible assets, and after allocation of Business Services, Group Centre and Treasury funding costs is shown below. The Group manages costs where they arise. Customer-facing divisions control their direct expenses whilst Business Services is responsible for shared costs.

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Operating profit/(loss) before impairment losses
UK Retail	371	490	468	579	527	42%	(9%)
UK Corporate	421	535	566	530	504	20%	(5%)
Wealth	100	134	120	99	66	(34%)	(33%)
Global Banking & Markets	3,737	1,018	593	1,001	1,498	(60%)	50%
Global Transaction Services	240	269	275	228	233	(3%)	2%
Ulster Bank	71	78	59	73	81	14%	11%
US Retail & Commercial	182	136	137	134	183	1%	37%
RBS Insurance	81	142	13	(170)	(50)	(162%)	(71%)
Central items	486	(311)	121	(3)	201	(59%)	-

Core	5,689	2,491	2,352	2,471	3,243	(43%)	31%
Non-Core	(2,652)	(1,361)	(598)	(725)	145	(105%)	(120%)

Operating profit before impairment losses	3,037	1,130	1,754	1,746	3,388	12%	94%

Included in the above are movements in fair value of own debt:
Global Banking & Markets	647	(482)	(320)	106	(32)	(105%)	(130%)
Central items	384	(478)	(163)	164	(137)	(136%)	(184%)

	1,031	(960)	(483)	270	(169)	(116%)	(163%)

Impairment losses by division
UK Retail	354	470	404	451	387	9%	(14%)
UK Corporate	100	450	187	190	186	86%	(2%)
Wealth	6	16	1	10	4	(33%)	(60%)
Global Banking & Markets	269	(31)	272	130	32	(88%)	(75%)
Global Transaction Services	9	4	22	4	-	-	-
Ulster Bank	67	90	144	348	218	-	(37%)
US Retail & Commercial	223	146	180	153	143	(36%)	(7%)
RBS Insurance	5	1	2	-	-	-	-
Central items	(3)	1	1	2	1	(133%)	(50%)

Core	1,030	1,147	1,213	1,288	971	(6%)	(25%)
Non-Core	1,828	3,516	2,066	1,811	1,704	(7%)	(6%)

Total impairment losses	2,858	4,663	3,279	3,099	2,675	(6%)	(14%)

Appendix 2 Analysis by quarter

Divisional performance (continued)

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Operating profit/(loss) by division
UK Retail	17	20	64	128	140	-	9%
UK Corporate	321	85	379	340	318	(1%)	(6%)
Wealth	94	118	119	89	62	(34%)	(30%)
Global Banking & Markets	3,468	1,049	321	871	1,466	(58%)	68%
Global Transaction Services	231	265	253	224	233	1%	4%
Ulster Bank	4	(12)	(85)	(275)	(137)	-	(50%)
US Retail & Commercial	(41)	(10)	(43)	(19)	40	(198%)	-
RBS Insurance	76	141	11	(170)	(50)	(166%)	(71%)
Central items	489	(312)	120	(5)	200	(59%)	-

Core	4,659	1,344	1,139	1,183	2,272	(51%)	92%
Non-Core	(4,480)	(4,877)	(2,664)	(2,536)	(1,559)	(65%)	(39%)

Group operating profit/(loss)	179	(3,533)	(1,525)	(1,353)	713	-	(153%)


Loan impairment losses	2,276	4,520	3,262	3,032	2,602	14%	(14%)
Securities impairment losses	582	143	17	67	73	(87%)	9%

	2,858	4,663	3,279	3,099	2,675	(6%)	(14%)


Loan impairment charge as % of gross loans and advances excluding reverse repurchase agreements	1.3%	3.0%	2.2%	2.1%	1.8%	48bp	(31bp)

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar	31 Dec
	£bn	£bn	£bn	£bn	£bn	2009	2009

Risk-weighted assets by division
UK Retail	49.6	54.0	51.6	51.3	49.8	-	(3%)
UK Corporate	86.2	89.5	91.0	90.2	91.3	6%	1%
Wealth	10.6	10.3	10.7	11.2	11.7	10%	4%
Global Banking & Markets	137.9	112.5	121.5	123.7	141.8	3%	15%
Global Transaction Services	18.7	16.7	18.9	19.1	20.4	9%	7%
Ulster Bank	26.2	26.2	28.5	29.9	32.8	25%	10%
US Retail & Commercial	64.3	55.6	62.8	59.7	63.8	(1%)	7%
Other	7.8	8.5	9.0	9.4	9.6	23%	2%

Core	401.3	373.3	394.0	394.5	421.2	5%	7%
Non-Core	174.4	174.0	200.7	171.3	164.3	(6%)	(4%)

	575.7	547.3	594.7	565.8	585.5	2%	3%
Benefit of Asset Protection Scheme	-	-	-	(127.6)	(124.8)	-	(2%)

Total	575.7	547.3	594.7	438.2	460.7	(20%)	5%

Appendix 2 Analysis by quarter

UK Retail

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	797	868	848	939	933	17%	(1%)

Net fees and commissions - banking	337	321	303	283	259	(23%)	(8%)
Other non-interest income (net of insurance claims)	53	69	69	60	56	6%	(7%)

Non-interest income	390	390	372	343	315	(19%)	(8%)

Total income	1,187	1,258	1,220	1,282	1,248	5%	(3%)

Direct expenses
- staff	(214)	(214)	(206)	(211)	(198)	(7%)	(6%)
- other	(115)	(102)	(99)	(105)	(105)	(9%)	-
Indirect expenses	(487)	(452)	(447)	(387)	(418)	(14%)	8%

	(816)	(768)	(752)	(703)	(721)	(12%)	3%

Operating profit before impairment losses	371	490	468	579	527	42%	(9%)
Impairment losses	(354)	(470)	(404)	(451)	(387)	9%	(14%)

Operating profit	17	20	64	128	140	-	9%

Analysis of income by product
Personal advances	305	311	303	273	234	(23%)	(14%)
Personal deposits	397	354	319	279	277	(30%)	(1%)
Mortgages	207	273	319	415	422	104%	2%
Bancassurance	52	69	69	56	59	13%	5%
Cards	204	212	225	228	229	12%	-
Other	22	39	(15)	31	27	23%	(13%)

Total income	1,187	1,258	1,220	1,282	1,248	5%	(3%)

Analysis of impairment by sector
Mortgages	22	41	26	35	48	118%	37%
Personal	195	299	247	282	233	19%	(17%)
Cards	137	130	131	134	106	(23%)	(21%)

Total impairment	354	470	404	451	387	9%	(14%)

Loan impairment charge as % of gross customer loans and advances by sector
Mortgages	0.1%	0.2%	0.1%	0.2%	0.2%	11bp	6bp
Personal	5.2%	8.3%	6.8%	8.3%	7.1%	-	(123bp)
Cards	9.1%	8.5%	8.6%	8.6%	7.1%	(207bp)	(158bp)

	1.5%	1.9%	1.6%	1.8%	1.5%	(1bp)	(26bp)

Appendix 2 Analysis by quarter

UK Retail(continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Performance ratios
Return on equity (1)	1.2%	1.4%	4.6%	9.3%	10.6%	944bp	125bp
Net interest margin	3.46%	3.69%	3.47%	3.74%	3.66%	20bp	(8bp)
Cost:income ratio	69%	60%	57%	54%	56%	1,252bp	(234bp)

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Loans and advances to customers gross
- mortgages	73.3	76.6	80.3	83.2	84.8	16%	2%
- personal	15.0	14.4	14.5	13.6	13.2	(12%)	(3%)
- cards	6.0	6.1	6.1	6.2	6.0	-	(3%)

Customer deposits (excluding bancassurance)	80.3	83.4	85.6	87.2	89.4	11%	3%
AUMs - excluding deposits	4.6	4.7	5.0	5.3	5.3	15%	-
Risk elements in lending	4.1	4.5	4.7	4.6	4.7	15%	2%
Loan:deposit ratio (excluding repos)	115%	113%	115%	115%	113%	(158bp)	(198bp)

Risk-weighted assets	49.6	54.0	51.6	51.3	49.8	-	(3%)

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 7% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

UK Corporate

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	499	560	607	626	610	22%	(3%)

Net fees and commissions	194	219	223	222	224	15%	1%
Other non-interest income	117	109	106	100	105	(10%)	5%

Non-interest income	311	328	329	322	329	6%	2%

Total income	810	888	936	948	939	16%	(1%)

Direct expenses
- staff	(185)	(182)	(174)	(212)	(205)	11%	(3%)
- other	(74)	(46)	(71)	(77)	(100)	35%	30%
Indirect expenses	(130)	(125)	(125)	(129)	(130)	-	1%

	(389)	(353)	(370)	(418)	(435)	12%	4%

Operating profit before impairment losses	421	535	566	530	504	20%	(5%)
Impairment losses	(100)	(450)	(187)	(190)	(186)	86%	(2%)

Operating profit	321	85	379	340	318	(1%)	(6%)

Analysis of income by business*
Corporate and commercial lending	476	520	546	589	630	32%	7%
Asset and invoice finance	109	123	129	140	134	23%	(4%)
Corporate deposits	290	264	241	191	176	(39%)	(8%)
Other	(65)	(19)	20	28	(1)	(98%)	(104%)

Total income	810	888	936	948	939	16%	(1%)


Analysis of impairment by sector
Banks and financial institutions	2	3	4	6	2	-	(67%)
Hotels and restaurants	15	36	7	40	16	7%	(60%)
Housebuilding and construction	6	55	58	(13)	14	133%	-
Manufacturing	4	17	2	28	6	50%	(79%)
Other	19	88	31	12	37	95%	-
Private sector education, health, social work, recreational and community services	8	32	(4)	23	8	-	(65%)
Property	11	149	69	30	66	-	120%
Wholesale and retail trade, repairs	14	23	16	23	18	29%	(22%)
Asset and invoice finance	21	47	4	41	19	(10%)	(54%)

Total impairment	100	450	187	190	186	86%	(2%)

* Revised to reflect a change in allocation between 'Corporate and commercial lending' and 'Asset and invoice finance'.

Appendix 2 Analysis by quarter

UK Corporate (continued)

	2009				2010	Q1 2010 vs.
	Q1*	Q2*	Q3*	Q4*	Q1	Q1 2009	Q4 2009

Loan impairment charge as % of gross customer loans and advances (excluding reverse repurchase agreements) by sector
Banks and financial institutions	0.2%	0.3%	0.3%	0.4%	0.1%	(5bp)	(26bp)
Hotels and restaurants	0.9%	2.1%	0.4%	2.5%	1.0%	14bp	(150bp)
Housebuilding and construction	0.5%	4.5%	4.7%	(1.1%)	1.2%	72bp	232bp
Manufacturing	0.3%	1.1%	0.1%	2.0%	0.4%	16bp	(155bp)
Other	0.2%	1.2%	0.4%	0.2%	0.5%	25bp	33bp
Private sector education, health, social work, recreational and community services	0.5%	2.1%	(0.2%)	1.5%	0.4%	(12bp)	(109bp)
Property	0.1%	1.7%	0.8%	0.4%	0.8%	66bp	43bp
Wholesale and retail trade, repairs	0.5%	0.9%	0.6%	0.9%	0.7%	18bp	(23bp)
Asset and invoice finance	1.0%	2.2%	0.2%	1.9%	0.9%	(12bp)	(107bp)

	0.3%	1.6%	0.7%	0.7%	0.7%	31bp	(2bp)

Key metrics

Performance ratios
Return on equity (1)	12.7%	3.2%	13.7%	12.4%	11.6%	(115bp)	(88bp)
Net interest margin	1.88%	2.17%	2.38%	2.47%	2.38%	50bp	(9bp)
Cost:income ratio	48%	40%	40%	44%	46%	169bp	(224bp)

* Revised to reflect a change in allocation between 'Corporate and commercial lending' and 'Asset and invoice finance'.

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 8% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

UK Corporate (continued)

	2009				2010	31 March 2010 vs.
	31 Mar*	30 June*	30 Sept*	31 Dec*	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Total assets	120.1	116.2	117.3	114.9	117.4	(2%)	2%
Loans and advances to customers gross
- Banks and financial institutions	4.6	4.5	6.1	6.3	6.5	41%	3%
- Hotels and restaurants	7.0	6.7	6.8	6.4	6.4	(9%)	-
- Housebuilding and construction	5.1	4.9	4.9	4.6	4.7	(8%)	2%
- Manufacturing	6.3	6.1	6.0	5.7	5.8	(8%)	2%
- Other	31.8	30.6	30.3	29.9	30.0	(6%)	-
- Private sector education, health, social work, recreational and community services	6.3	6.0	6.5	6.2	8.2	30%	32%
- Property	36.6	35.2	34.7	34.2	33.8	(8%)	(1%)
- Wholesale and retail trade, repairs	10.5	10.1	10.1	9.8	10.1	(4%)	3%
- Asset and invoice finance	8.5	8.5	8.5	8.5	8.8	4%	4%
Customer deposits	82.9	85.6	86.7	87.8	91.4	10%	4%
Risk elements in lending	2.0	2.4	2.5	2.3	2.5	25%	9%
Loan:deposit ratio (excluding repos)	139%	130%	130%	126%	124%	(1,549bp)	(208bp)

Risk-weighted assets	86.2	89.5	91.0	90.2	91.3	6%	1%

* Revised to reflect a change in allocation between 'Corporate and commercial lending' and 'Asset and invoice finance'.

Appendix 2 Analysis by quarter

Wealth

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	158	176	168	161	143	(9%)	(11%)

Net fees and commissions	90	90	92	91	95	6%	4%
Other non-interest income	21	21	19	22	17	(19%)	(23%)

Non-interest income	111	111	111	113	112	1%	(1%)

Total income	269	287	279	274	255	(5%)	(7%)

Direct expenses
- staff	(90)	(78)	(82)	(107)	(99)	10%	(7%)
- other	(33)	(34)	(35)	(37)	(30)	(9%)	(19%)
Indirect expenses	(46)	(41)	(42)	(31)	(60)	30%	94%

	(169)	(153)	(159)	(175)	(189)	12%	8%

Operating profit before impairment losses	100	134	120	99	66	(34%)	(33%)
Impairment losses	(6)	(16)	(1)	(10)	(4)	(33%)	(60%)

Operating profit	94	118	119	89	62	(34%)	(30%)

Analysis of income
Private Banking	219	242	232	223	204	(7%)	(9%)
Investments	50	45	47	51	51	2%	-

Total income	269	287	279	274	255	(5%)	(7%)

Key metrics

Performance ratios
Net interest margin	4.47%	4.82%	4.34%	3.94%	3.38%	(109bp)	(56bp)
Cost:income ratio	63%	53%	57%	64%	74%	(1,129bp)	(1,025bp)

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Loans and advances to customers gross
- mortgages	5.5	5.6	6.1	6.5	6.8	24%	5%
- personal	4.6	4.7	4.8	4.9	6.2	35%	27%
- other	2.2	2.1	2.5	2.3	1.5	(32%)	(35%)

Customer deposits	34.9	35.3	36.3	35.7	36.4	4%	2%
AUMs - excluding deposits	31.3	29.8	31.7	30.7	31.7	1%	3%
Risk elements in lending	0.1	0.2	0.2	0.2	0.2	100%	-
Loan:deposit ratio (excluding repos)	35%	35%	37%	38%	40%	434bp	130bp

Risk-weighted assets	10.6	10.3	10.7	11.2	11.7	10%	4%

Appendix 2 Analysis by quarter

Global Banking & Markets

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income from banking activities	812	660	447	324	379	(53%)	17%

Net fees and commissions receivable	297	412	340	286	345	16%	21%
Income from trading activities	4,081	1,132	1,028	1,522	1,995	(51%)	31%
Other operating income (net of related funding costs)	(98)	(101)	(70)	(63)	73	(174%)	-

Non-interest income	4,280	1,443	1,298	1,745	2,413	(44%)	38%

Total income	5,092	2,103	1,745	2,069	2,792	(45%)	35%

Direct expenses
- staff	(888)	(680)	(721)	(641)	(891)	-	39%
- other	(274)	(204)	(240)	(247)	(229)	(16%)	(7%)
Indirect expenses	(193)	(201)	(191)	(180)	(174)	(10%)	(3%)

	(1,355)	(1,085)	(1,152)	(1,068)	(1,294)	(5%)	21%

Operating profit before impairment losses	3,737	1,018	593	1,001	1,498	(60%)	50%
Impairment losses	(269)	31	(272)	(130)	(32)	(88%)	(75%)

Operating profit	3,468	1,049	321	871	1,466	(58%)	68%


Analysis of income by product
Rates - money markets	853	466	287	108	88	(90%)	(19%)
Rates - flow	1,297	536	694	615	699	(46%)	14%
Currencies and Commodities	539	416	147	175	295	(45%)	69%
Equities	371	364	282	457	314	(15%)	(31%)
Credit markets	858	690	475	232	959	12%	-
Portfolio management and origination	527	113	180	376	469	(11%)	25%
Fair value of own debt	647	(482)	(320)	106	(32)	(105%)	(130%)

Total income	5,092	2,103	1,745	2,069	2,792	(45%)	35%


Analysis of impairment by sector
Manufacturing and infrastructure	16	23	33	19	(7)	(144%)	(137%)
Property and construction	46	4	-	(1)	8	(83%)	-
Transport	-	1	2	-	-	-	-
Banks and financial institutions	4	39	237	68	16	-	(76%)
Others	203	(98)	-	44	15	(93%)	(66%)

Total impairment	269	(31)	272	130	32	(88%)	(75%)

Loan impairment charge as % of gross customer loans and advances (excluding reverse repurchase agreements)	0.7%	(0.1%)	0.6%	0.6%	0.1%	(58bp)	(49bp)

Appendix 2 Analysis by quarter

Global Banking & Markets (continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Performance ratios
Return on equity (1)	68.8%	24.8%	7.2%	18.7%	28.4%	(4,035bp)	971bp
Net interest margin	2.02%	1.48%	1.08%	0.89%	1.11%	(91bp)	22bp
Cost:income ratio	27%	52%	66%	52%	46%	(1,974bp)	527bp

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2010
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Loans and advances (including banks)	205.3	155.2	156.3	127.8	133.5	(35%)	4%
Reverse repos	80.6	75.2	75.4	73.3	93.1	16%	27%
Securities	124.3	115.5	117.6	106.0	116.6	(6%)	10%
Cash and eligible bills	28.6	51.5	63.8	74.0	61.9	116%	(16%)
Other assets	37.4	40.5	46.0	31.1	38.6	3%	24%

Total third party assets (excluding derivatives mark to market)	476.2	437.9	459.1	412.2	443.7	(7%)	8%
Net derivative assets (after netting)	99.8	80.7	84.3	68.0	66.9	(33%)	(2%)
Customer deposits (excluding repos)	80.1	63.4	56.8	46.9	47.0	(41%)	-
Risk elements in lending	0.8	1.1	1.6	1.8	1.2	50%	(33%)
Loan:deposit ratio (excluding repos and including equity deposits)	196%	186%	194%	194%	195%	(147bp)	65bp

Risk-weighted assets	137.9	112.5	121.5	123.7	141.8	3%	15%

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 10% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

Global Transaction Services

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	220	225	234	233	217	(1%)	(7%)
Non-interest income	385	398	388	404	390	1%	(3%)

Total income	605	623	622	637	607	-	(5%)

Direct expenses
- staff	(95)	(87)	(87)	(102)	(104)	9%	2%
- other	(35)	(38)	(37)	(51)	(33)	(6%)	(35%)
Indirect expenses	(235)	(229)	(223)	(256)	(237)	1%	(7%)

	(365)	(354)	(347)	(409)	(374)	2%	(9%)

Operating profit before impairment losses	240	269	275	228	233	(3%)	2%
Impairment losses	(9)	(4)	(22)	(4)	-	-	-

Operating profit	231	265	253	224	233	1%	4%


Analysis of income by product
Domestic cash management	202	204	202	197	194	(4%)	(2%)
International cash management	169	179	183	203	185	9%	(9%)
Trade finance	75	77	71	67	71	(5%)	6%
Merchant acquiring	129	131	134	134	115	(11%)	(14%)
Commercial cards	30	32	32	36	42	40%	17%

Total income	605	623	622	637	607	-	(5%)


Key metrics

Performance ratios
Net interest margin	8.29%	9.23%	9.63%	9.81%	7.97%	(32bp)	(184bp)
Cost:income ratio	60%	57%	56%	64%	62%	(128bp)	260bp

	2009				2010	Q1 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Total third party assets	21.1	19.4	21.4	18.4	25.6	21%	39%
Loans and advances	14.7	13.5	14.5	12.7	14.3	(3%)	13%
Customer deposits	58.3	54.0	58.6	61.8	64.6	11%	5%
Risk elements in lending	0.1	0.1	0.2	0.2	0.2	100%	-
Loan:deposit ratio (excluding repos)	26%	26%	25%	21%	22%	(363bp)	166bp

Risk-weighted assets	18.7	16.7	18.9	19.1	20.4	9%	7%

Appendix 2 Analysis by quarter

Ulster Bank

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	202	208	176	194	188	(7%)	(3%)

Net fees and commissions	46	39	45	98	35	(24%)	(64%)
Other non-interest income	11	12	10	(7)	18	64%	-

Non-interest income	57	51	55	91	53	(7%)	(42%)

Total income	259	259	231	285	241	(7%)	(15%)

Direct expenses
- staff	(89)	(81)	(79)	(76)	(66)	(26%)	(13%)
- other	(22)	(25)	(20)	(18)	(18)	(18%)	-
Indirect expenses	(77)	(75)	(73)	(118)	(76)	(1%)	(36%)

	(188)	(181)	(172)	(212)	(160)	(15%)	(25%)

Operating profit before impairment losses	71	78	59	73	81	14%	11%
Impairment losses	(67)	(90)	(144)	(348)	(218)	-	(37%)

Operating profit/(loss)	4	(12)	(85)	(275)	(137)	-	(50%)


Analysis of income by business
Corporate	162	138	134	146	145	(10%)	(1%)
Retail	93	101	104	114	112	20%	(2%)
Other	4	20	(7)	25	(16)	-	(164%)

Total income	259	259	231	285	241	(7%)	(15%)


Analysis of impairment by sector
Mortgages	14	10	30	20	33	136%	65%
Corporate
- property	12	63	(2)	233	82	-	(65%)
- other	28	3	89	83	91	-	10%
Other	13	14	27	12	12	(8%)	-

Total impairment	67	90	144	348	218	-	(37%)


Loan impairment charge as % of gross customer loans and advances (excluding reverse repurchase agreements) by sector
Mortgages	0.3%	0.2%	0.7%	0.5%	0.8%	50bp	33bp
Corporate
- property	0.5%	2.7%	(0.1%)	9.2%	3.3%	285bp	(591bp)
- other	0.9%	0.1%	3.0%	3.0%	3.5%	260bp	48bp
Other	2.6%	3.5%	5.4%	2.0%	2.0%	(58bp)	-

	0.6%	0.9%	1.4%	3.5%	2.3%	161bp	(126bp)

Appendix 2 Analysis by quarter

Ulster Bank (continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Performance ratios
Return on equity (1)	0.7%	(2.0%)	(12.7%)	(39.8%)	(18.1%)	(1,874bp)	2,177bp
Net interest margin	1.87%	2.03%	1.74%	1.83%	1.77%	(10bp)	(6bp)
Cost:income ratio	73%	70%	74%	74%	66%	620bp	800bp

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Loans and advances to customers gross
- mortgages	17.4	16.0	16.7	16.2	16.1	(7%)	(1%)
- corporate
- property	10.4	9.5	10.2	10.1	9.9	(5%)	(2%)
- other	12.4	11.7	11.7	11.0	10.4	(16%)	(5%)
- other	2.0	1.8	2.0	2.4	2.4	20%	-

Customer deposits	19.5	18.9	20.9	21.9	23.7	22%	8%
Risk elements in lending
- mortgages	0.4	0.4	0.5	0.6	0.7	75%	17%
- corporate
- property	0.6	0.6	0.6	0.7	1.0	67%	43%
- other	0.4	0.5	0.7	0.8	1.1	175%	38%
- other	0.1	0.1	0.2	0.2	0.2	100%	-
Loan:deposit ratio (excluding repos)	213%	203%	191%	177%	159%	(5,471bp)	(1,806bp)

Risk-weighted assets	26.2	26.2	28.5	29.9	32.8	25%	10%

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 7% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

US Retail and Commercial (£ Sterling)

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income	494	448	410	423	468	(5%)	11%

Net fees and commissions	198	209	159	148	177	(11%)	20%
Other non-interest income	52	45	65	73	75	44%	3%

Non-interest income	250	254	224	221	252	1%	14%

Total income	744	702	634	644	720	(3%)	12%

Direct expenses
- staff	(218)	(184)	(174)	(200)	(215)	(1%)	8%
- other	(143)	(188)	(132)	(130)	(134)	(6%)	3%
Indirect expenses	(201)	(194)	(191)	(180)	(188)	(6%)	4%

	(562)	(566)	(497)	(510)	(537)	(4%)	5%

Operating profit before impairment losses	182	136	137	134	183	1%	37%
Impairment losses	(223)	(146)	(180)	(153)	(143)	(36%)	(7%)

Operating (loss)/profit	(41)	(10)	(43)	(19)	40	198%	-


Average exchange rate - US$/£	1.436	1.551	1.640	1.633	1.560


Analysis of income by product
Mortgages and home equity	142	130	112	115	115	(19%)	-
Personal lending and cards	107	113	116	115	114	7%	(1%)
Retail deposits	231	202	200	195	226	(2%)	16%
Commercial lending	141	140	127	134	142	1%	6%
Commercial deposits	104	89	97	108	81	(22%)	(25%)
Other	19	28	(18)	(23)	42	121%	-

Total income	744	702	634	644	720	(3%)	12%

Analysis of impairment by sector
Residential mortgages	23	12	29	8	19	(17%)	138%
Home equity	29	43	82	13	6	(79%)	(54%)
Corporate and commercial	108	61	65	92	49	(55%)	(47%)
Other	63	30	4	40	56	(11%)	40%
Securities impairment losses	-	-	-	-	13	-	-

Total impairment	223	146	180	153	143	(36%)	(7%)

Loan impairment charge as % of gross customer loans and advances (excluding reverse repurchase agreements) by sector
Residential mortgages	1.0%	0.7%	1.7%	0.5%	1.1%	14bp	65bp
Home equity	0.6%	1.1%	2.1%	0.3%	0.1%	(47bp)	(19bp)
Corporate and commercial	1.8%	1.2%	1.3%	1.9%	1.0%	(83bp)	(93bp)
Other	2.6%	1.4%	0.2%	2.1%	2.8%	24bp	66bp

	1.4%	1.1%	1.4%	1.3%	1.0%	(42bp)	(23bp)

Appendix 2 Analysis by quarter

US Retail and Commercial (£ Sterling) (continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Performance ratios
Return on equity (1)	(2.4%)	(0.7%)	(2.5%)	(1.2%)	2.3%	470bp	351bp
Net interest margin	2.33%	2.30%	2.34%	2.45%	2.69%	36bp	24bp
Cost:income ratio	75%	81%	78%	79%	74%	96bp	471bp

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Total assets	94.9	75.6	76.9	74.8	78.2	(18%)	5%
Loans and advances to customers gross
- residential mortgages	9.2	7.3	6.9	6.5	6.7	(27%)	3%
- home equity	18.8	15.9	16.0	15.4	16.2	(14%)	5%
- corporate and commercial	24.2	20.5	20.5	19.5	20.5	(15%)	5%
- other consumer	9.8	8.3	7.8	7.5	8.0	(18%)	7%
Customer deposits (excluding repos)	67.7	59.9	62.0	60.1	62.5	(8%)	4%
Risk elements in lending
- retail	0.3	0.3	0.3	0.4	0.4	33%	-
- commercial	0.1	0.1	0.2	0.2	0.3	200%	50%
Loan:deposit ratio (excluding repos)	91%	86%	81%	80%	81%	(968bp)	66bp

Risk-weighted assets	64.3	55.6	62.8	59.7	63.8	(1%)	7%

Spot exchange rate - US$/£	1.433	1.644	1.599	1.622	1.517

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 7% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

US Retail and Commercial (US Dollar)

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	$m	$m	$m	$m	$m

Income statement
Net interest income	711	696	680	690	730	3%	6%

Net fees and commissions	284	324	266	245	276	(3%)	13%
Other non-interest income	75	69	104	120	116	55%	(3%)

Non-interest income	359	393	370	365	392	9%	7%

Total income	1,070	1,089	1,050	1,055	1,122	5%	6%

Direct expenses
- staff	(313)	(287)	(289)	(325)	(335)	7%	3%
- other	(206)	(289)	(219)	(215)	(207)	-	(4%)
Indirect expenses	(288)	(301)	(313)	(294)	(293)	2%	-

	(807)	(877)	(821)	(834)	(835)	3%	-

Operating profit before impairment losses	263	212	229	221	287	9%	30%
Impairment losses	(320)	(231)	(296)	(252)	(224)	(30%)	(11%)

Operating (loss)/profit	(57)	(19)	(67)	(31)	63	-	-


Analysis of income by product
Mortgages and home equity	204	203	186	188	180	(12%)	(4%)
Personal lending and cards	154	174	190	188	178	16%	(5%)
Retail deposits	332	315	329	320	351	6%	10%
Commercial lending	202	217	210	219	222	10%	1%
Commercial deposits	150	138	160	176	126	(16%)	(28%)
Other	28	42	(25)	(36)	65	132%	-

Total income	1,070	1,089	1,050	1,055	1,122	5%	6%


Analysis of impairment by sector
Residential mortgages	33	19	47	14	30	(9%)	114%
Home equity	42	65	131	23	10	(76%)	(57%)
Corporate and commercial	154	99	107	150	77	(50%)	(49%)
Other	91	48	11	65	87	(4%)	34%
Securities impairment losses	-	-	-	-	20	-	-

Total impairment	320	231	296	252	224	(30%)	(11%)


Loan impairment charge as % of gross customer loans and advances (excluding reverse repurchase agreements) by sector
Residential mortgages	1.0%	0.6%	1.7%	0.5%	1.2%	19bp	66bp
Home equity	0.6%	1.0%	2.0%	0.4%	0.2%	(46bp)	(21bp)
Corporate and commercial	1.8%	1.2%	1.3%	1.9%	1.0%	(78bp)	(91bp)
Other	2.6%	1.4%	0.3%	2.1%	2.9%	29bp	73bp

	1.4%	1.1%	1.5%	1.3%	1.1%	(39bp)	(22bp)

Appendix 2 Analysis by quarter

US Retail and Commercial (US Dollar) (continued)

	2009				2010	Q1 2010 vs.
Key metrics	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Performance ratios
Return on equity (1)	(2.3%)	(0.8%)	(2.5%)	(1.2%)	2.4%	470bp	359bp
Net interest margin	2.33%	2.32%	2.37%	2.45%	2.69%	36bp	24bp
Cost:income ratio	75%	81%	78%	79%	74%	96bp	471bp

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	$bn	$bn	$bn	$bn	$bn

Capital and balance sheet
Total assets	136.0	124.4	122.9	121.3	118.6	(13%)	(2%)
Loans and advances to customers gross
- residential mortgages	13.2	12.0	11.0	10.6	10.1	(23%)	(5%)
- home equity	26.9	26.1	25.6	25.0	24.6	(9%)	(2%)
- corporate and commercial	34.7	33.6	32.7	31.6	31.1	(10%)	(2%)
- other consumer	14.1	13.7	12.5	12.1	12.1	(14%)	-
Customer deposits (excluding repos)	97.1	98.5	99.1	97.4	94.8	(2%)	(3%)
Risk elements in lending
- retail	0.4	0.4	0.5	0.6	0.6	50%	-
- commercial	0.2	0.3	0.3	0.4	0.5	150%	25%
Loan:deposit ratio (excluding repos)	91%	86%	81%	80%	81%	(968bp)	66bp

Risk-weighted assets	92.1	91.3	100.4	96.9	96.8	5%	-

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on 7% of divisional risk-weighted assets, adjusted for capital deductions).

Appendix 2 Analysis by quarter

RBS Insurance

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Earned premiums	1,106	1,119	1,145	1,149	1,130	2%	(2%)
Reinsurers' share	(45)	(40)	(43)	(37)	(34)	(24%)	(8%)

Insurance premium income	1,061	1,079	1,102	1,112	1,096	3%	(1%)
Net fees and commissions	(92)	(95)	(95)	(84)	(89)	(3%)	6%
Other income	108	104	112	148	92	(15%)	(38%)

Total income	1,077	1,088	1,119	1,176	1,099	2%	(7%)

Direct expenses
- staff	(70)	(69)	(67)	(61)	(63)	(10%)	3%
- other	(67)	(54)	(47)	(54)	(47)	(30%)	(13%)
Indirect expenses	(66)	(65)	(64)	(75)	(65)	(2%)	(13%)

	(203)	(188)	(178)	(190)	(175)	(14%)	(8%)

Gross claims	(798)	(776)	(941)	(1,175)	(982)	23%	(16%)
Reinsurers' share	5	18	13	19	8	60%	(58%)

Net claims	(793)	(758)	(928)	(1,156)	(974)	23%	(16%)

Operating profit/(loss) before impairment losses	81	142	13	(170)	(50)	(162%)	(71%)
Impairment losses	(5)	(1)	(2)	-	-	-	-

Operating profit/(loss)	76	141	11	(170)	(50)	(166%)	(71%)


Analysis of income by product
Own-brand
- Motor	477	495	517	516	521	9%	1%
- Household and life	204	210	214	221	224	10%	1%
Partnerships and broker
- Motor	145	145	141	146	136	(6%)	(7%)
Household and life	83	81	78	88	81	(2%)	(8%)
Other (international, commercial and central)	168	157	169	205	137	(18%)	(33%)

Total income	1,077	1,088	1,119	1,176	1,099	2%	(7%)


In-force policies (thousands)
- Motor own-brand	4,601	4,789	4,894	4,858	4,715	2%	(3%)
- Own-brand non-motor (home, pet, rescue, HR24)	5,643	5,890	6,150	6,307	6,367	13%	1%
- Partnerships & broker (motor, home, pet, rescue, HR24)	5,750	5,609	5,371	5,328	5,185	(10%)	(3%)
- Other (international, commercial and central)	1,211	1,210	1,212	1,217	1,411	17%	16%

Gross written premium (£m)	1,123	1,147	1,186	1,024	1,090	(3%)	6%

Appendix 2 Analysis by quarter

RBS Insurance (continued)

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009

Key business metrics
Return on equity (1)	9.5%	17.7%	1.2%	(19.1%)	(5.4%)	(1,483bp)	1,370bp
Cost:income ratio	19%	17%	16%	16%	16%	293bp	24bp
General insurance reserves - total (£m)	6,630	6,601	6,839	7,030	7,101	7%	1%

Note:

(1)	Return on equity is based on divisional operating profit after tax, divided by divisional notional equity (based on regulatory capital).

Appendix 2 Analysis by quarter

Central items

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Fair value of own debt	384	(478)	(163)	164	(137)	(136%)	(184%)
Other	105	166	283	(169)	337	-	-

Central items not allocated	489	(312)	120	(5)	200	(59%)	-

Appendix 2 Analysis by quarter

Non-Core

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Income statement
Net interest income from banking activities	395	274	287	578	568	44%	(2%)

Net fees and commissions receivable	172	79	130	129	104	(40%)	(19%)
Loss from trading activities	(2,617)	(1,184)	(579)	(781)	(131)	(95%)	(83%)
Insurance net premium income	244	196	173	171	168	(31%)	(2%)
Other operating income (net of related funding costs)	30	(52)	43	11	225	-	-

Non-interest income	(2,171)	(961)	(233)	(470)	366	(117%)	(178%)

Total income	(1,776)	(687)	54	108	934	(153%)	-

Direct expenses
- staff	(301)	(153)	(150)	(247)	(252)	(16%)	2%
- other	(256)	(247)	(244)	(297)	(282)	10%	(5%)
Indirect expenses	(142)	(137)	(132)	(141)	(122)	(14%)	(13%)

	(699)	(537)	(526)	(685)	(656)	(6%)	(4%)

Operating (loss)/profit before other operating charges and impairment losses	(2,475)	(1,224)	(472)	(577)	278	(111%)	(148%)
Insurance net claims	(177)	(137)	(126)	(148)	(133)	(25%)	(10%)
Impairment losses	(1,828)	(3,516)	(2,066)	(1,811)	(1,704)	(7%)	(6%)

Operating loss	(4,480)	(4,877)	(2,664)	(2,536)	(1,559)	(65%)	(39%)


Key metrics

Performance ratios
Net interest margin	0.61%	0.45%	0.55%	1.17%	1.25%	64bp	8bp
Cost:income ratio	(39%)	(78%)	974%	634%	70%	(10,960bp)	56,402bp

	2009				2010	31 Mar 2010 vs.
	31 Mar	30 June	30 Sept	31 Dec	31 Mar	31 Mar 2009	31 Dec 2009
	£bn	£bn	£bn	£bn	£bn

Capital and balance sheet
Total third party assets (including derivatives)	314.7	246.5	233.0	220.9	212.6	(32%)	(4%)
Loans and advances to customers gross	183.7	164.1	159.1	149.5	141.2	(23%)	(6%)
Customer deposits	23.7	15.0	16.0	12.6	10.2	(57%)	(19%)
Risk elements in lending	14.7	20.5	23.3	22.9	24.0	63%	5%
Loan:deposit ratio (excluding repos)	764%	1,084%	937%	1,121%	1,356%	59,189bp	23,524bp

Risk-weighted assets	174.4	174.0	200.7	171.3	164.3	(6%)	(4%)

Appendix 2 Analysis by quarter

Non-Core (continued)

	2009				2010	Q1 2010 vs.
	Q1	Q2	Q3	Q4	Q1	Q1 2009	Q4 2009
	£m	£m	£m	£m	£m

Analysis of income
Banking & Portfolio	(131)	(973)	(271)	37	271	-	-
International Businesses & Portfolios	662	570	537	493	632	(5%)	28%
Markets	(2,307)	(284)	(212)	(422)	31	(101%)	(107%)

Total income	(1,776)	(687)	54	108	934	(153%)	-


Impairment losses
Banking & Portfolio	818	1,155	1,347	895	697	(15%)	(22%)
International Businesses & Portfolios	720	1,638	1,234	902	951	32%	5%
Markets	290	723	(515)	14	56	(81%)	-

Total impairment	1,828	3,516	2,066	1,811	1,704	(7%)	(6%)


Loan impairment charge as % of gross customer loans and advances (1)
Banking & Portfolio	3.2%	4.7%	6.0%	4.1%	3.3%	16bp	(81bp)
International Businesses & Portfolios	3.7%	8.9%	6.9%	5.3%	5.7%	204bp	43bp
Markets	(61.6%)	301.2%	(126.8%)	0.4%	33.6%	9,519bp	3,316bp

	2.8%	8.2%	5.4%	4.6%	4.6%	175bp	(7bp)

	£bn	£bn	£bn	£bn	£bn
Gross customer loans and advances
Banking & Portfolio	103.3	92.1	88.2	82.0	78.6	(24%)	(4%)
International Businesses & Portfolios	78.6	69.4	68.3	65.6	62.3	(21%)	(5%)
Markets	1.8	2.6	2.6	1.9	0.3	(83%)	(84%)

	183.7	164.1	159.1	149.5	141.2	(23%)	(6%)

Risk-weighted assets
Banking & Portfolio	70.9	57.5	61.1	58.2	57.2	(19%)	(2%)
International Businesses & Portfolios	51.4	48.5	46.1	43.8	45.4	(12%)	4%
Markets	52.1	68.0	93.5	69.3	61.7	18%	(11%)

	174.4	174.0	200.7	171.3	164.3	(6%)	(4%)

Note:

(1)	Including disposal groups.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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