Integrated Annual Report 2015

Combined consolidated income statement

£’000  Notes  Year to 
31 March 
2015 
Year to 
31 March 
2014*
Interest income 2  1 790 867  1 905 383 
Interest expense 2  (1 155 890) (1 253 704)
Net interest income 634 977  651 679 
Fee and commission income 3  1 226 257  1 136 902 
Fee and commission expense 3  (137 214) (147 481)
Investment income 4  128 334  166 809 
Trading income arising from
– customer flow 106 313  103 914 
– balance sheet management and other trading activities (13 424) 10 587 
Other operating income 5  12 236  18 554 
Total operating income before impairment losses on loans and advances 1 957 479  1 940 964 
Impairment losses on loans and advances 26  (128 381) (166 152)
Operating income 1 829 098  1 774 812 
Operating costs 6  (1 322 705) (1 307 243)
Depreciation on operating leased assets 6  (1 535) (6 044)
Operating profit before goodwill and acquired intangibles 504 858  461 525
Impairment of goodwill 33  (5 337) (12 797)
Amortisation of acquired intangibles 34  (14 497) (13 393)
Operating costs arising from integration, restructuring and partial disposal of subsidiaries –  (20 890)
Operating profit 485 024  414 445
Net (loss)/gain on disposal of subsidiaries 35  (93 033) 9 821 
Profit before taxation 391 991  424 266
Taxation on operating profit before goodwill and acquired intangibles 8  (99 023) (78 910)
Taxation on acquired intangibles and acquisition/disposal/integration of subsidiaries 8  (17 574) 7 289 
Profit after taxation 275 394  352 645
Profit attributable to Asset Management non-controlling interests (18 184) (11 031)
Profit attributable to other non-controlling interests (11 701) (10 849)
Earnings attributable to shareholders 245 509  330 765 
Earnings per share (pence)
– Basic 9  24.4  34.3 
– Diluted 9  23.1  32.3 

* As restated for restatements detailed in note 59.

 

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