RBS 2006 Annual Report Download - page 54
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53
RBS Group • Annual Report and Accounts 2006
Operating and financial review
Average balance sheet and related interest
2006 2005
Average Average
balance Interest Rate balance Interest Rate
£m £m % £m £m %
Assets
Treasury bills and other eligible bills – UK 2,059 90 4.37 3,160 138 4.37
– Overseas 70 3 4.29 63 2 3.17
Loans and advances to banks – UK 15,850 697 4.40 15,338 649 4.23
– Overseas 7,440 282 3.79 9,465 308 3.25
Loans and advances to customers – UK 239,469 15,204 6.35 212,991 13,510 6.34
– Overseas 121,093 6,977 5.76 104,594 5,207 4.98
Debt securities – UK 13,143 662 5.04 15,553 697 4.48
– Overseas 22,012 1,051 4.77 22,526 994 4.41
Total interest-earning assets – banking business (2,3) 421,136 24,966 5.93 383,690 21,505 5.60
– trading business (4) 202,408 172,990
Total interest-earning assets 623,544 556,680
Non-interest-earning assets (2,3)210,358 180,368
Total assets 833,902 737,048
Percentage of assets applicable to overseas operations 35.2% 35.3%
Liabilities and shareholders’ equity
Deposits by banks – UK 35,998 1,393 3.87 34,742 1,192 3.43
– Overseas 28,813 1,228 4.26 27,383 891 3.25
Customer accounts: demand deposits – UK 86,207 2,428 2.82 73,653 2,056 2.79
– Overseas 13,127 441 3.36 13,858 299 2.16
Customer accounts: savings deposits – UK 30,933 1,058 3.42 26,727 778 2.91
– Overseas 19,766 529 2.68 21,700 381 1.76
Customer accounts: other time deposits – UK 67,806 2,807 4.14 60,454 2,328 3.85
– Overseas 36,839 1,636 4.44 32,024 979 3.06
Debt securities in issue – UK 55,912 2,670 4.78 52,672 2,071 3.93
– Overseas 25,249 1,076 4.26 19,621 633 3.23
Subordinated liabilities – UK 24,008 1,231 5.13 23,948 1,122 4.69
– Overseas 2,639 160 6.06 2,642 154 5.83
Internal funding of trading business – UK (44,475) (1,893) 4.26 (37,628) (1,125) 2.99
– Overseas (4,930) (207) 4.20 (2,186) (39) 1.78
Total interest-bearing liabilities – banking business (2,3) 377,892 14,557 3.85 349,610 11,720 3.35
– trading business (4) 204,810 172,744
Total interest-bearing liabilities 582,702 522,354
Non-interest-bearing liabilities
Demand deposits – UK 17,909 17,484
– Overseas 11,668 11,181
Other liabilities (3,4) 184,747 153,081
Shareholders’ equity 36,876 32,948
Total liabilities and shareholders’ equity 833,902 737,048
Percentage of liabilities applicable to overseas operations 32.3% 33.5%
Notes:
(1) The analysis into UK and Overseas has been compiled on the basis of location of office.
(2) Interest-earning assets and interest-bearing liabilities exclude the Retail bancassurance assets and liabilities attributable to policyholders, in view of their distinct nature.
As a result, net interest income has been adjusted by £63 million (2005 – £59 million).
(3) Interest income has been adjusted by £215 million (2005 – £115 million) and interest expense by £465 million (2005 – £307 million) to record interest on financial assets and
liabilities designated as at fair value through profit or loss. Related interest-earning assets and interest-bearing liabilities have also been adjusted.
(4) Interest receivable and interest payable on trading assets and liabilities are included in income from trading activities.