REG - Royal Bk Scot.Grp. - Half Yearly Report - Part 3 <Origin Href="QuoteRef">RBS.L</Origin> - Part 7

NatwestAnnouncement

29/10/2014 09:17

- Part 7: For the preceding part double click  ID:nRSA9700Nf 

-                -               696        
 Profit from discontinued operations, net of tax     35               -              -                35                    138           -                -               138        
                                                                                                                                                                                      
 Profit for the period                               1,954            -              -                1,954                 834           -                -               834        
 Non-controlling interests                           (42)             -              -                (42)                  (117)         -                -               (117)      
 Preference share and other dividends                (487)            -              -                (487)                 (182)         -                -               (182)      
                                                                                                                                                                                      
 Profit attributable to ordinary and B shareholders  1,425            -              -                1,425                 535           -                -               535        
 
 
Notes: 
 
 (1)  Reallocation of restructuring costs and litigation and conduct costs into the statutory operating expense line.                                                           
 (2)  Reallocation of £11 million gain (2013 - £175 million gain) to income from trading activities and £62 million loss (2013 - £201 million gain) to other operating income.  
 
 
Appendix 2 Income statement reconciliations 
 
                                   Quarter ended  
                                   30 June 2014                    31 March 2014              30 June 2013  
                                   Non-           One-off items    Presentational  Statutory                Non-             One-off items  Presentational  Statutory                      Non-     One-off items  Presentational  Statutory  
 statutory                         reallocation   adjustments (1)                  statutory  reallocation  adjustments (1)                 statutory       reallocation  adjustments (1)  
 £m                                £m             £m               £m                         £m            £m               £m             £m                            £m               £m       £m             £m              
                                                                                                                                                                                                                                              
 Interest receivable               3,822          (1)              -               3,821                    3,799            1              -               3,800                          4,281    -              -               4,281      
 Interest payable                  (1,024)        1                -               (1,023)                  (1,101)          (4)            -               (1,105)                        (1,511)  (3)            -               (1,514)    
                                                                                                                                                                                                                                              
 Net interest income               2,798          -                -               2,798                    2,698            (3)            -               2,695                          2,770    (3)            -               2,767      
                                                                                                                                                                                                                                              
 Fees and commissions receivable   1,314          -                -               1,314                    1,291            -              -               1,291                          1,392    -              -               1,392      
 Fees and commissions payable      (251)          -                -               (251)                    (236)            -              -               (236)                          (250)    -              -               (250)      
 Income from trading activities    626            (85)             -               541                      856              96             -               952                            874      75             -               949        
 Gain on redemption of own debt    -              -                -               -                        -                20             -               20                             -        242            -               242        
 Other operating income            438            (93)             -               345                      444              247            -               691                            661      59             -               720        
                                                                                                                                                                                                                                              
 Non-interest income               2,127          (178)            -               1,949                    2,355            363            -               2,718                          2,677    376            -               3,053      
                                                                                                                                                                                                                                              
 Total income                      4,925          (178)            -               4,747                    5,053            360            -               5,413                          5,447    373            -               5,820      
                                                                                                                                                                                                                                              
 Staff costs                       (1,693)        1                (153)           (1,845)                  (1,647)          (1)            (43)            (1,691)                        (1,764)  -              (76)            (1,840)    
 Premises and equipment            (485)          -                (137)           (622)                    (594)            -              (59)            (653)                          (526)    -              (22)            (548)      
 Other administrative expenses     (605)          (2)              (344)           (951)                    (687)            1              (25)            (711)                          (801)    1              (618)           (1,418)    
 Depreciation and amortisation     (282)          1                (1)             (282)                    (269)            (1)            (2)             (272)                          (346)    -              (3)             (349)      
 Restructuring costs               (385)          -                385             -                        (129)            -              129             -                              (149)    -              149             -          
 Litigation and conduct costs      (250)          -                250             -                        -                -              -               -                              (570)    -              570             -          
 Write down of goodwill and other                                                                                                                                                                                                             
 intangible assets                 -              (130)            -               (130)                    (82)             -              -               (82)                           -        -              -               -          
                                                                                                                                                                                                                                              
 Operating expenses                (3,700)        (130)            -               (3,830)                  (3,408)          (1)            -               (3,409)                        (4,156)  1              -               (4,155)    
                                                                                                                                                                                                                                              
 Profit before impairment                                                                                                                                                                                                                     
 losses                            1,225          (308)            -               917                      1,645            359            -               2,004                          1,291    374            -               1,665      
 Impairment losses                 93             -                -               93                       (362)            -              -               (362)                          (1,117)  -              -               (1,117)    
                                                                                                                                                                                                                                              
 Operating profit                  1,318          (308)            -               1,010                    1,283            359            -               1,642                          174      374            -               548        
 
 
For the notes to this refer to the following page. 
 
Appendix 2 Income statement reconciliations 
 
                                       Quarter ended  
                                       30 June 2014                  31 March 2014               30 June 2013  
                                       Non-           One-off items  Presentational   Statutory                Non-          One-off items    Presentational  Statutory                Non-             One-off items  Presentational  Statutory  
                                       statutory      reallocation   adjustments (1)             statutory     reallocation  adjustments (1)                  statutory  reallocation  adjustments (1)  
                                       £m             £m             £m               £m                       £m            £m               £m              £m                       £m               £m             £m              £m         
                                                                                                                                                                                                                                                  
 Operating profit                      1,318          (308)          -                1,010                    1,283         359              -               1,642                    174              374            -               548        
 Own credit adjustments (2)            (190)          190            -                -                        139           (139)            -               -                        127              (127)          -               -          
 Gain on redemption of own debt        -              -              -                -                        20            (20)             -               -                        242              (242)          -               -          
 Write-down of goodwill                (130)          130            -                -                        -             -                -               -                        -                -              -               -          
 Strategic disposals                   -              -              -                -                        191           (191)            -               -                        6                (6)            -               -          
 RFS Holdings minority interest        12             (12)           -                -                        9             (9)              -               -                        (1)              1              -               -          
                                                                                                                                                                                                                                                  
 Profit before tax                     1,010          -              -                1,010                    1,642         -                -               1,642                    548              -              -               548        
 Tax charge                            (371)          -              -                (371)                    (362)         -                -               (362)                    (328)            -              -               (328)      
                                                                                                                                                                                                                                                  
 Profit from continuing operations     639            -              -                639                      1,280         -                -               1,280                    220              -              -               220        
 Profit from discontinued operations,                                                                                                                                                                                                             
 net of tax                            26             -              -                26                       9             -                -               9                        9                -              -               9          
                                                                                                                                                                                                                                                  
 Profit for the period                 665            -              -                665                      1,289         -                -               1,289                    229              -              -               229        
 Non-controlling interests             (23)           -              -                (23)                     (19)          -                -               (19)                     14               -              -               14         
 Preference share and other dividends  (412)          -              -                (412)                    (75)          -                -               (75)                     (101)            -              -               (101)      
                                                                                                                                                                                                                                                  
 Profit attributable to ordinary                                                                                                                                                                                                                  
 and B shareholders                    230            -              -                230                      1,195         -                -               1,195                    142              -              -               142        
 
 
Notes: 
 
 (1)  Reallocation of restructuring costs and litigation and conduct costs into the statutory operating expense line.                                                                                                                        
 (2)  Reallocation of £84 million loss (Q1 2014 - £95 million gain; Q2 2013 - £76 million gain) to income from trading activities and £106 million loss (Q1 2014 - £44 million gain; Q2 2013 - £51 million gain) to other operating income.  
 
 
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