RBS 2006 Annual Report Download - page 57
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RBS Group • Annual Report and Accounts 2006
56
Operating and financial review continued
Operating and financial review
Operating expenses (excluding purchased intangibles amortisation and integration costs)
2006 2005
£m £m
Administrative expenses:
Staff costs 6,647 5,844
Premises and equipment 1,411 1,274
Other administrative expenses 2,626 2,592
Total administrative expenses 10,684 9,710
Depreciation and amortisation 1,568 1,588
12,252 11,298
2006 compared with 2005
Operating expenses, excluding purchased intangibles
amortisation and integration costs, rose by 8% to £12,252
million to support the strong growth in business volumes.
Staff costs were up £803 million, 14% to £6,647 million
reflecting growth and expansion of activities in Corporate
Markets, where the number of staff increased by 1,700.
Premises and equipment expenses increased by £137 million,
11% to £1,411 million reflecting the continuation of our branch
network improvement programme and ongoing investment in
our major operational centres.
Other administrative expenses, up 1%, £34 million to £2,626
million reflected efficiency improvements whilst supporting
higher business volumes.
The Group’s ratio of operating expenses (excluding purchased
intangibles amortisation and integration costs and after netting
operating lease depreciation against rental income) to total
income was 42.1% compared with 42.4% in 2005.