REG - Royal Bk Scot.Grp. - 1st Quarter Results <Origin Href="QuoteRef">RBS.L</Origin> - Part 6
15/07/2015 15:25
- Part 6: For the preceding part double click ID:nRSd7782Le
- adjusted (6) (0.6) (0.1) (0.4) (0.2) (0.4) (0.1) (1.8) (0.4) (0.1) - (0.5) - - (1.0) (2.8)
Impairment releases - - - - - - - - - - - 0.1 - 0.1 0.1
Operating profit/(loss) - adjusted (6) 0.6 0.1 0.4 - 0.1 (0.1) 1.1 (0.1) 0.1 - 0.3 0.2 - 0.5 1.6
Funded assets 115 27 93 12 184 94 525 64 20 6 87 11 1 189 714
Risk-weighted assets 32 22 66 7 47 9 183 56 11 3 72 17 7 166 349
Return on equity - adjusted (6,7) 37% 6% 12% 4% nm nm 13% nm nm 5% 7% nm nm 7% 10%
Notes:
(1) Excludes Williams & Glyn.
(2) Excludes international private banking.
(3) The CIB results split into go-forward and capital resolution elements are based on a modelled approach pending outcomes of ongoing implementation planning and therefore is subject to change.
(4) Other go-forward is primarily Centre, which includes the liquidity portfolio.
(5) Does not reflect the cost base, funding and capital profile of a standalone bank.
(6) Excludes restructuring and litigation and conduct costs.
(7) Segmental ROE iscalculated using operating profit after tax on a non-statutory basis adjusted for preference share dividends divided by average notional equity (based on 13% of average RWAe).Total RBS ROE is calculated using operating profit after tax on a non-statutory basis less preference dividends divided by average RBS tangible equity. PBB adjusted ROE - 25%; CPB adjusted ROE - 11%.
Appendix 3
Income statement reconciliations
Appendix 3 Income statement reconciliations
Quarter ended
31 March 2015
Non- Reallocation of Presentational Statutory
statutory one-off items adjustments (1) CFG (2)
£m £m £m £m £m
Interest receivable 3,686 - - (610) 3,076
Interest payable (930) - - 57 (873)
Net interest income 2,756 - - (553) 2,203
Fees and commissions receivable 1,178 - - (189) 989
Fees and commissions payable (186) - - 9 (177)
Income from trading activities 270 95 - (35) 330
Other operating income 313 (110) - (29) 174
Non-interest income 1,575 (15) - (244) 1,316
Total income 4,331 (15) - (797) 3,519
Staff costs (1,558) - (55) 288 (1,325)
Premises and equipment (487) - (10) 78 (419)
Other administrative expenses (511) - (964) 136 (1,339)
Depreciation, amortisation and write downs (232) - (280) - (512)
Restructuring costs (453) - 453 - -
Litigation and conduct costs (856) - 856 - -
Operating expenses (4,097) - - 502 (3,595)
Profit/(loss) before impairment releases 234 (15) - (295) (76)
Impairment releases 91 - - 38 129
Operating profit 325 (15) - (257) 53
Own credit adjustments (3) 120 (120) - - -
Strategic disposals (135) 135 - - -
Citizens discontinued operations (257) - - 257 -
Profit before tax 53 - - - 53
Tax charge (193) - - - (193)
Loss from continuing operations (140) - - - (140)
Loss from discontinued operations, net of tax
- Citizens (320) - - - (320)
- Other 4 - - - 4
Loss from discontinued operations, net of tax (316) - - - (316)
Loss for the period (456) - - - (456)
Non-controlling interests 84 - - - 84
Preference share and other dividends (74) - - - (74)
Loss attributable to ordinary and B shareholders (446) - - - (446)
For the notes to this refer to the page 3.
Appendix 3 Income statement reconciliations
Quarter ended
31 December 2014
Non- Reallocation of Presentational Statutory
statutory one-off items adjustments (1) CFG (2)
£m £m £m £m £m
Interest receivable 3,823 - - (585) 3,238
Interest payable (908) - - 52 (856)
Net interest income 2,915 - - (533) 2,382
Fees and commissions receivable 1,247 - - (192) 1,055
Fees and commissions payable (211) - - 7 (204)
Income from trading activities (295) (84) - (24) (403)
Other operating income 204 (47) - (22) 135
Non-interest income 945 (131) - (231) 583
Total income 3,860 (131) - (764) 2,965
Staff costs (1,455) - (134) 264 (1,325)
Premises and equipment (525) - (31) 76 (480)
Other administrative expenses (827) (2) (1,315) 145 (1,999)
Depreciation, amortisation and write downs (250) - - 47 (203)
Restructuring costs (563) - 563 - -
Litigation and conduct costs (1,164) - 1,164 - -
Write down of goodwill and other intangible assets (74) - (247) 10 (311)
Operating expenses (4,858) (2) - 542 (4,318)
Loss before impairment releases (998) (133) - (222) (1,353)
Impairment releases 623 - - 47 670
Operating loss (375) (133) - (175) (683)
Own credit adjustments (3) (144) 144 - - -
Citizens discontinued operations (175) - - 175 -
RFS Holdings minority interest 11 (11) - - -
Loss before tax (683) - - - (683)
Tax charge (1,040) - - - (1,040)
Loss from continuing operations (1,723) - - - (1,723)
Loss from discontinued operations, net of tax
- Citizens (3,885) - - - (3,885)
- Other 3 - - - 3
Loss from discontinued operations, net of tax (3,882) - - - (3,882)
Loss for the period (5,605) - - - (5,605)
Non-controlling interests (71) - - - (71)
Preference share and other dividends (115) - - - (115)
Loss attributable to ordinary and B shareholders (5,791) - - - (5,791)
For the notes to this table refer to the following page.
Appendix 3 Income statement reconciliations
Quarter ended
31 March 2014
Non- Reallocation of Presentational Statutory
statutory one-off items adjustments (1) CFG (2)
£m £m £m £m £m
Interest receivable 3,799 1 - (535) 3,265
Interest payable (1,101) (4) - 47 (1,058)
Net interest income 2,698 (3) - (488) 2,207
Fees and commissions receivable 1,291 - - (174) 1,117
Fees and commissions payable (236) - - 5 (231)
Income from trading activities 856 96 - (30) 922
Gain on redemption of own debt - 20 - - 20
Other operating income 444 247 - (40) 651
Non-interest income 2,355 363 - (239) 2,479
Total income 5,053 360 - (727) 4,686
Staff costs (1,647) (1) (43) 252 (1,439)
Premises and equipment (594) - (59) 73 (580)
Other administrative expenses (687) 1 (25) 134 (577)
Depreciation, amortisation and write downs (269) (1) (2) 43 (229)
Restructuring costs (129) - 129 - -
Write down of goodwill and other intangible assets (82) - - - (82)
Operating expenses (3,408) (1) - 502 (2,907)
Profit before impairment losses 1,645 359 - (225) 1,779
Impairment losses (362) - - 73 (289)
Operating profit 1,283 359 - (152) 1,490
Own credit adjustments (3) 139 (139) - - -
Gain on redemption of own debt 20 (20) - - -
Strategic disposals 191 (191) - - -
Citizens discontinued operations (152) - - 152 -
RFS Holdings minority interest 9 (9) - - -
Profit before tax 1,490 - - - 1,490
Tax charge (314) - - - (314)
Profit from continuing operations 1,176 - - - 1,176
Profit from discontinued operations, net of tax
- Citizens 104 - - - 104
- Other 9 - - - 9
Profit from discontinued operations, net of tax 113 - - - 113
Profit for the period 1,289 - - - 1,289
Non-controlling interests (19) - - - (19)
Preference share and other dividends (75) - - - (75)
Profit attributable to ordinary and B shareholders 1,195 - - - 1,195
Notes:
(1) Reallocation of restructuring costs and litigation and conduct costs into the statutory operating expense lines.
(2) The statutory results of Citizens Financial Group (CFG), which is classified as a discontinued operation.
(3) Reallocation of £95 million gain (Q4 2014 - £84 million loss; Q1 2014 - £95 million gain) to income from trading activities and £25 million gain (Q4 2014 - £60 million loss; Q1 2014 - £44 million gain) to other operating income.
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