RBS 2003 Annual Report Download - page 186

184
Notes on the accounts continued
Notes on the accounts
49 Segmental analysis (continued)
Total assets Net assets
2003 2002 2003 2002
£m £m £m £m
Corporate Banking and Financial Markets 268,523 245,225 11,728 10,434
Retail Banking 67,340 66,501 3,745 3,418
Retail Direct 21,905 19,440 1,236 1,072
Manufacturing 4,259 3,929 194 193
Wealth Management 15,231 13,441 671 615
RBS Insurance 10,124 4,410 1,373 912
Ulster Bank 15,560 12,713 1,078 976
Citizens 42,976 37,858 4,417 3,510
Central items 9,357 8,483 3,657 5,922
455,275 412,000 28,099 27,052
Segmental analysis of goodwill is as follows:
Retail Wealth RBS
CBFM Direct Management Insurance Citizens Centre Total
£m £m £m £m £m £m £m
Cost:
At 1 January 2003 130 60 8 221 2,547 11,629 14,595
Currency translation and other adjustments — — 1 — (284) — (283)
Arising on acquisitions during the year 61 54 144 792 405 — 1,456
Disposals — — — (2) — (8) (10)
At 31 December 2003 191 114 153 1,011 2,668 11,621 15,758
Amortisation:
At 1 January 2003 4 2 — 41 226 1,625 1,898
Currency translation and other adjustments ————(34)—(34)
Charge for the year 10 4 1 28 139 581 763
At 31 December 2003 14 6 1 69 331 2,206 2,627
Net book value:
At 31 December 2003 177 108 152 942 2,337 9,415 13,131
At 31 December 2002 126 58 8 180 2,321 10,004 12,697
(b) Geographical segments
The geographical analyses in the tables below have been compiled on the basis of location of office where the transactions
are recorded.
Rest of
UK USA Europe the World Total
2003 £m £m £m £m £m
Interest receivable 10,780 2,142 942 134 13,998
Dividend income 33 7 18 — 58
Fees and commissions receivable 4,725 622 323 85 5,755
Dealing profits 1,004 717 39 33 1,793
Other operating income 1,384 82 132 — 1,598
General insurance premium income (net of reinsurance) 2,919 — 142 — 3,061
Gross income 20,845 3,570 1,596 252 26,263
Profit on ordinary activities before tax 4,529 1,157 327 146 6,159
Total assets 315,426 102,448 27,411 9,990 455,275
Net assets 20,595 5,389 2,110 5 28,099