RBS 2004 Annual Report Download - page 79
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section
01
Operating and
financial review
77
Annual Report and Accounts 2004
Operating and financial review
Integration costs
2004 2003 2002
£m £m £m
Staff costs 113 125 530
Premises and equipment 34 31 127
Other administrative expenses 120 73 298
Depreciation of tangible fixed assets 2 —2
269 229 957
At 31 December Currency translation Charge to profit Utilised during At 31 December
2003 adjustments and loss account the year 2004
£m £m £m £m £m
Staff costs – redundancy 19 — 19 (27) 11
Staff costs – other 27 (1) 94 (91) 29
Premises and equipment 2 (1) 34 (22) 13
Other 33 (2) 122 (109) 44
81 (4) 269 (249) 97
Integration costs in 2004 comprise £87 million relating to the
integration of Churchill, £91 million relating to the integration of
Charter One and £91 million in respect of other acquisitions.
Integration costs in 2003 comprise £143 million relating
to the integration of NatWest, £63 million relating to the
integration of Citizens' acquisitions and £23 million in
respect of other acquisitions.
Integration costs in 2002 comprise £810 million relating
to the integration of NatWest and £147 million relating to
the integration of Citizens' acquisitions.
Accruals in relation to integration costs are set out below.