RBS.L Regulatory News (RBS)

Adjustments

Pro forma 

RFS Minority 

interest 

Reallocation 

of one-off 

 items 

Statutory 

£m 

£m 

£m

£m 

Net interest income

3,684 

(8)

- 

3,676 

Non-interest income (excluding insurance net premium income)

3,820 

21 

642 

4,483 

Insurance net premium income

1,278 

- 

- 

1,278 

Non-interest income

5,098 

21 

642 

5,761 

Total income

8,782 

13 

642 

9,437 

Operating expenses

(4,103)

4 

(354)

(4,453)

Profit before other operating charges

4,679 

17 

288 

4,984 

Insurance net claims

(1,323)

- 

- 

(1,323)

Operating profit before impairment losses

3,356 

17

288 

3,661 

Impairment losses

(2,487)

- 

- 

(2,487)

Operating profit

869 

17 

288 

1,174 

Amortisation of purchased intangible assets

(85)

- 

85 

- 

Integration and restructuring costs

(254)

- 

254 

- 

Gain on redemption of own debt

553 

- 

(553)

- 

Strategic disposals

(411)

- 

411 

- 

Bonus tax

(15)

- 

15 

- 

Asset Protection Scheme credit default swap - fair value changes

500 

- 

(500)

- 

Operating profit before tax

1,157 

17 

- 

1,174 

Tax

(825)

- 

- 

(825)

Profit from continuing operations

332 

17 

- 

349 

Loss from discontinued operations, net of tax

(26) 

(993)

- 

(1,019)

Profit/(loss) for the period

306 

(976)

- 

(670)

Minority interests

(30)

976 

- 

946 

Preference share and other dividends

(19)

- 

- 

(19)

Profit attributable to ordinary shareholders

257 

- 

- 

257 

Adjustments

Pro forma 

RFS Minority 

interest 

Reallocation 

of one-off 

 items 

Statutory 

£m 

£m 

£m

£m 

Net interest income

3,534 

8 

- 

3,542 

Non-interest income (excluding insurance net premium income)

4,131 

8 

(447)

3,692 

Insurance net premium income

1,289 

- 

- 

1,289 

Non-interest income

5,420 

8 

(447)

4,981 

Total income

8,954 

16 

(447)

8,523 

Operating expenses

(4,430)

- 

(287)

(4,717)

Profit before other operating charges

4,524 

16 

(734)

3,806 

Insurance net claims

(1,136)

- 

- 

(1,136)

Operating profit before impairment losses

3,388 

16 

(734)

2,670 

Impairment losses

(2,675)

- 

- 

(2,675)

Operating profit/(loss)

713 

16 

(734)

(5)

Amortisation of purchased intangible assets

(65)

- 

65 

- 

Integration and restructuring costs

(168)

- 

168 

- 

Strategic disposals

53 

- 

(53)

- 

Bonus tax

(54)

- 

54 

- 

Asset Protection Scheme credit default swap - fair value changes

(500)

- 

500 

- 

Operating loss before tax

(21)

16 

- 

(5)

Tax credit

(106)

(1)

- 

(107)

Loss from continuing operations

(127)

15 

- 

(112)

(Loss)/profit from discontinued operations, net of tax

(4)

317 

- 

313 

(Loss)/profit for the period

(131)

332 

- 

201 

Minority interests

(12)

(332)

- 

(344)

Preference share and other dividends

(105)

- 

- 

(105)

Loss attributable to ordinary shareholders

(248)

- 

- 

(248)

Adjustments

Pro forma 

RFS Minority 

interest 

Reallocation 

of one-off 

 items 

Statutory 

£m 

£m 

£m

£m 

Net interest income

3,322 

(37)

- 

3,285 

Non-interest income (excluding insurance net premium income)

1,498 

14 

4,002 

5,514 

Insurance net premium income

1,301 

- 

- 

1,301 

Non-interest income

2,799 

14 

4,002 

6,815 

Total income

6,121 

(23)

4,002 

10,100 

Operating expenses

(4,066)

(31)

(721)

(4,818)

Profit before other operating charges

2,055 

(54)

3,281 

5,282 

Insurance net claims

(925)

- 

- 

(925)

Operating profit before impairment losses

1,130 

(54)

3,281 

4,357 

Impairment losses

(4,663)

- 

- 

(4,663)

Operating loss

(3,533)

(54)

3,281 

(306)

Amortisation of purchased intangible assets

(55)

- 

55 

- 

Write-down of goodwill and other intangible assets

(311)

- 

311 

- 

Integration and restructuring costs

(355)

- 

355 

- 

Gain on redemption of own debt

3,790 

- 

(3,790)

- 

Strategic disposals

212 

- 

(212)

- 

Operating loss before tax

(252)

(54)

- 

(306)

Tax

640 

26 

- 

666 

Profit from continuing operations

388 

(28)

- 

360 

(Loss)/profit from discontinued operations, net of tax

(13)

93 

- 

80 

Profit for the period

375 

65 

- 

440 

Minority interests

(83)

(65)

- 

(148)

Preference share and other dividends

(432)

- 

- 

(432)

Loss attributable to ordinary shareholders

(140)

- 

- 

(140)

Adjustments

Pro forma 

RFS Minority 

interest 

Reallocation 

of one-off 

 items 

Statutory 

£m 

£m 

£m

£m 

Net interest income

7,218 

-

- 

7,218 

Non-interest income (excluding insurance net premium income)

7,951 

29 

195 

8,175 

Insurance net premium income

2,567 

- 

- 

2,567 

Non-interest income

10,518 

29 

195 

10,742 

Total income

17,736 

29 

195 

17,960 

Operating expenses

(8,533)

4

(641)

(9,170)

Profit before other operating charges

9,203 

33 

(446)

8,790 

Insurance net claims

(2,459)

- 

- 

(2,459)

Operating profit before impairment losses

6,744 

33 

(446)

6,331 

Impairment losses

(5,162)

- 

- 

(5,162)

Operating profit

1,582 

33 

(446)

1,169 

Amortisation of purchased intangible assets

(150)

- 

150 

- 

Integration and restructuring costs

(422)

- 

422 

- 

Gain on redemption of own debt

553 

- 

(553)

- 

Strategic disposals

(358)

- 

358 

- 

Bonus tax

(69)

- 

69 

- 

Operating profit before tax

1,136 

33 

- 

1,169 

Tax

(931)

(1)

- 

(932)

Profit from continuing operations

205

32 

- 

237

Loss from discontinued operations, net of tax

(30)

 (676)

- 

(706)

Profit/(loss) for the period

175 

(644)

- 

(469)

Minority interests

(42)

644 

- 

602 

Preference share and other dividends

(124)

- 

- 

(124)

Profit attributable to ordinary shareholders

9 

- 

- 

9 

Adjustments

Pro forma 

RFS Minority 

interest 

Reallocation 

of one-off 

 items 

 Statutory 

£m 

£m 

£m 

£m 

Net interest income

6,860 

(11) 

- 

6,849 

Non-interest income (excluding insurance net premium income)

5,274 

(2)

4,243 

9,515 

Insurance net premium income

2,657 

- 

- 

2,657 

Non-interest income

7,931 

(2)

4,243 

12,172 

Total income

14,791 

(13)

4,243 

19,021 

Operating expenses

(8,733)

(42)

(1,185)

(9,960)

Profit before other operating charges

6,058 

(55)

3,058 

9,061 

Insurance net claims

(1,891)

- 

‑ 

(1,891)

Operating profit before impairment losses

4,167 

(55)

3,058 

7,170 

Impairment losses

(7,521)

- 

- 

(7,521)

Operating loss

(3,354)

(55)

3,058 

(351)

Amortisation of purchased intangible assets

(140)

- 

140 

- 

Write-down of goodwill and other intangible assets

(311)

- 

311 

- 

Integration and restructuring costs

(734)

- 

734 

- 

Gain on redemption of own debt

3,790 

- 

(3,790)

- 

Strategic disposals

453 

- 

(453)

- 

Operating loss before tax

(296)

(55)

- 

(351)

Tax

412 

44 

- 

456 

Profit from continuing operations

116 

(11)

- 

105 

(Loss)/profit from discontinued operations, net of tax

(58)

88 

- 

30 

Profit for the period

58 

77 

- 

135 

Minority interests

(554)

(77)

- 

(631)

Preference share and other dividends

(546)

- 

- 

(546)

Loss attributable to ordinary shareholders

(1,042)

- 

- 

(1,042)

Pro forma 

Transfers 

Statutory 

£m 

£m 

£m 

Assets

Cash and balances at central banks

29,591 

- 

29,591 

Net loans and advances to banks

54,471 

18 

54,489 

Reverse repurchase agreements and stock borrowing

47,663 

- 

47,663 

Loans and advances to banks

102,134 

18 

102,152 

Net loans and advances to customers

539,340 

35 

539,375 

Reverse repurchase agreements and stock borrowing

39,396 

- 

39,396 

Loans and advances to customers

578,736 

35 

578,771 

Debt securities

236,260 

- 

236,260 

Equity shares

17,326 

- 

17,326 

Settlement balances

20,718 

-

20,718 

Derivatives

522,871 

- 

522,871 

Intangible assets

14,482 

-

14,482 

Property, plant and equipment

17,608 

- 

17,608 

Deferred taxation

5,841 

(2) 

5,839 

Prepayments, accrued income and other assets

13,630 

465 

14,095 

Assets of disposal groups

21,656 

684 

22,340 

Total assets

1,580,853 

1,200 

1,582,053 

Liabilities

Bank deposits

96,614 

96 

96,710 

Repurchase agreements and stock lending

44,165 

-

44,165 

Deposits by banks

140,779 

96 

140,875 

Customer deposits

420,890 

- 

420,890

Repurchase agreements and stock lending

70,655 

- 

70,655 

Customer accounts

491,545 

- 

491,545 

Debt securities in issue

217,317 

- 

217,317 

Settlement balances and short positions

62,724 

- 

62,724 

Derivatives

508,966 

- 

508,966 

Accruals, deferred income and other liabilities

24,842 

25 

24,867 

Retirement benefit liabilities

2,600 

11 

2,611 

Deferred taxation

2,126 

69 

2,195 

Insurance liabilities

6,521 

- 

6,521 

Subordinated liabilities

27,523 

- 

27,523 

Liabilities of disposal groups

16,999 

616

17,615 

Total liabilities

1,501,942 

817

1,502,759 

Equity

Minority interests

2,109 

383 

2,492 

Owners' equity

76,802

- 

76,802 

Total equity

78,911 

383 

79,294 

Total liabilities and equity

1,580,853 

1,200 

1,582,053 

Pro forma 

Transfers 

Statutory 

£m 

£m 

£m 

Assets

Cash and balances at central banks

51,548 

713 

52,261 

Net loans and advances to banks

48,777 

7,879 

56,656 

Reverse repurchase agreements and stock borrowing

35,097 

- 

35,097 

Loans and advances to banks

83,874 

7,879 

91,753 

Net loans and advances to customers

554,654 

132,699 

687,353 

Reverse repurchase agreements and stock borrowing

41,040 

- 

41,040 

Loans and advances to customers

595,694 

132,699 

728,393 

Debt securities

249,095 

18,159 

267,254 

Equity shares

15,960 

3,568 

19,528 

Settlement balances

12,024 

9 

12,033 

Derivatives

438,199 

3,255 

441,454 

Intangible assets

14,786 

3,061 

17,847 

Property, plant and equipment

17,773 

1,624 

19,397 

Deferred taxation

6,492 

547 

7,039 

Prepayments, accrued income and other assets

18,604 

2,381 

20,985 

Assets of disposal groups

18,432 

110 

18,542 

Total assets

1,522,481 

174,005 

1,696,486 

Liabilities

Bank deposits

115,642 

(11,504)

104,138 

Repurchase agreements and stock lending

38,006 

- 

38,006 

Deposits by banks

153,648 

(11,504)

142,144 

Customer deposits

414,251 

131,598 

545,849 

Repurchase agreements and stock lending

68,353 

- 

68,353 

Customer accounts

482,604 

131,598 

614,202 

Debt securities in issue

246,329 

21,239 

267,568 

Settlement balances and short positions

50,875 

1 

50,876 

Derivatives

421,534 

2,607 

424,141 

Accruals, deferred income and other liabilities

24,624 

5,703 

30,327 

Retirement benefit liabilities

2,715 

248 

2,963 

Deferred taxation

2,161 

650 

2,811 

Insurance liabilities

7,633 

2,648 

10,281 

Subordinated liabilities

31,538 

6,114 

37,652 

Liabilities of disposal groups

18,857 

33 

18,890 

Total liabilities

1,442,518 

159,337 

1,601,855 

Equity

Minority interests

2,227 

14,668 

16,895 

Owners' equity

77,736 

- 

77,736 

Total equity

79,963 

14,668 

94,631 

Total liabilities and equity

1,522,481 

174,005 

1,696,486