Barclays 2006 Annual Report Download - page 36

Financial review
Analysis of results by business
Barclays PLC
Annual Report 2006
32
International Retail and Commercial Banking – Absa represents Barclays consolidation of Absa, excluding Absa Capital which is included as part of
Barclays Capital. Absa Group Limited is one of South Africa’s largest financial services organisations serving personal, commercial and corporate
customers predominantly in South Africa. International Retail and Commercial Banking – Absa serves retail customers through a variety of
distribution channels and offers a full range of banking services, including current and deposit accounts, mortgages, instalment finance, credit cards,
bancassurance products and wealth management services; it also offers customised business solutions for commercial and large corporate
customers.
2006 2005(a)
£m £m
Net interest income 1,049 488
Net fee and commission income 855 328
Net trading income (11) (28)
Net investment income 122 55
Principal transactions 111 27
Net premiums from insurance contracts 240 98
Other income 54 37
Total income 2,309 978
Net claims and benefits on insurance contracts (106) (44)
Total income net of insurance claims 2,203 934
Impairment charges (126) (19)
Net income 2,077 915
Operating expenses excluding amortisation of intangible assets (1,312) (583)
Amortisation of intangible assets (76) (41)
Operating expenses (1,388) (624)
Share of post-tax results of associates and joint ventures 97
Profit before tax 698 298
Cost:income ratio 63% 67%
Cost:net income ratio 67% 68%
Risk Tendency £145m £100m
Return on average economic capital 34% 36%
Economic profit £184m £90m
2006 2005
Loans and advances to customers £24.2bn £23.9bn
Customer accounts £11.1bn £12.2bn
Total assets £30.4bn £29.4bn
Risk weighted assets £20.7bn £20.8bn
Key Facts
Number of branches 749 718
Number of ATMs 7,053 5,835
Number of retail customers 8.3m 7.6m
Number of corporate customers 84,000 79,000
£2,203m 10%
Income Contribution to Group profitProfit before tax
£698m
Note
(a) For 2005, this reflects the period from 27th July until 31st December 2005.
International Retail and Commercial Banking – Absa