RBS 2004 Annual Report Download - page 81

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section
01
Operating and
financial review
79
Annual Report and Accounts 2004
Operating and financial review
Divisional performance
The contribution of each division before goodwill amortisation and integration costs and, where appropriate, Manufacturing costs is
detailed below.
2004 2003 2002
£m £m £m
Corporate Banking and Financial Markets 4,265 3,620 3,261
Retail Banking* 3,279 3,170 3,074
Retail Direct* 1,040 881 708
Manufacturing* (2,439) (2,114) (1,952)
Wealth Management* 468 402 407
RBS Insurance* 862 609 456
Ulster Bank* 468 354 318
Citizens 1,037 857 766
Central items** (879) (711) (498)
Profit before goodwill amortisation and integration costs 8,101 7,068 6,540
* prior periods have been restated to reflect the transfer in 2004 of certain activities from Wealth Management to Retail Banking and from other divisions, principally RBS Insurance
and Ulster Bank, to Manufacturing.
** restated following the implementation of FRS 17
The performance of each of the divisions is reviewed on pages 80 to 91.