For the year to 31 March
£’000 |
Notes |
2011 |
2010* |
| Interest income |
|
2 238 783 |
2 041 153 |
| Interest expense |
|
(1 557 314) |
(1 428 067) |
| Net interest income |
|
681 469 |
613 086 |
| Fee and commission income |
|
896 300 |
612 574 |
| Fee and commission expense |
|
(108 642) |
(67 497) |
| Principal transactions |
2 |
418 686 |
457 759 |
| Investment income on assurance activities |
30 |
64 834 |
94 914 |
| Premiums and reinsurance recoveries on insurance contracts |
30 |
6 110 |
31 938 |
| Other operating income |
3 |
54 003 |
34 332 |
| Other income |
|
1 331 291 |
1 164 020 |
| Claims and reinsurance premiums on insurance business |
30 |
(57 774) |
(119 918) |
| Total operating income net of insurance claims |
|
1 954 986 |
1 657 188 |
| Impairment losses on loans and advances |
20 |
(318 230) |
(286 581) |
| Operating income |
10 |
1 636 756 |
1 370 607 |
| Operating costs |
4 |
(1 196 865) |
(957 151) |
| Depreciation on operating leased assets |
25/28 |
(16 447) |
– |
| Operating profit before goodwill and acquired intangibles |
|
423 444 |
413 456 |
| Impairment of goodwill |
27 |
(6 888) |
(3 526) |
| Amortisation of acquired intangibles |
|
(6 341) |
– |
| Operating profit |
|
410 215 |
409 930 |
| Profit arising from associate converted to subsidiary |
29 |
73 465 |
– |
| Net loss on sale of subsidiaries |
|
(17 302) |
– |
| Profit before taxation |
|
466 378 |
409 930 |
| Taxation on operating profit before goodwill |
6 |
(65 075) |
(82 599) |
| Taxation on intangibles and sale of subsidiaries |
6 |
6 610 |
– |
| Profit after taxation |
|
407 913 |
327 331 |
| Operating losses attributable to non-controlling interests |
|
10 962 |
18 802 |
| Loss on subsidiaries attributable to non-controlling interests |
|
1 641 |
– |
| Earnings attributable to shareholders |
|
420 516 |
346 133 |
| Earnings per share (pence) |
|
|
|
| – Basic |
7 |
49.7 |
44.0 |
| – Diluted |
7 |
46.7 |
41.5 |