RBS 2005 Annual Report Download - page 164
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162
Notes on the accounts
Notes on the accounts continued
16 Impaired and past-due financial assets Group
Net book
Cost Provision value
2005 £m £m £m
Impaired financial assets
Loans and receivables and finance leases 5,926 3,344 2,582
Available-for-sale 316 132 184
6,242 3,476 2,766
Group
2005 2004
£m £m
Impairment losses charged to the income statement
Loans and receivables and finance leases (see table below) 1,703
Available-for-sale 4
Loans and advances (see table below) 1,402
Amounts written-off fixed asset investments 83
Total 1,707 1,485
The following table shows impairment losses for loans and receivables and finance leases (2004 – loans and advances).
Group
2004
2005 Specific General Total
£m £m £m £m
At 1 January 4,174 3,332 553 3,885
Implementation of IAS 39 (29) ———
Currency translation and other adjustments 51 (22) (76) (98)
Acquisitions —222 68 290
Amounts written-off (1) (2,040) (1,449) — (1,449)
Recoveries of amounts previously written-off 172 144 — 144
Charged to the income statement 1,703 1,386 16 1,402
Unwind of discount (144) ———
At 31 December (2) 3,887 3,613 561 4,174
(1) Amounts written-off during the year include £2 million relating to banks (2004 – nil).
(2) Balance at 31 December 2005 includes £3 million relating to banks (2004 – £6 million).
Loan impairment
At 31 December 2005, the Group’s non-accrual loans, loans past due 90 days and troubled debt restructurings amounted to £5,937
million (2004 – £5,470 million). Loan impairment provisions of £3,344 million (2004 – £3,561 million) were held against these loans.
Average non-accrual loans, loans past due 90 days and troubled debt restructurings for the year to 31 December 2005 were £5,923
million (2004 – £5,264 million).
IFRS
2005 2004
£m £m
Gross income not recognised but which would have been
recognised under the original terms of non-accrual and restructured loans
Domestic 334 235
Foreign 62 58
396 293
Interest on non-accrual and restructured loans included in net interest income
Domestic 130 58
Foreign 14 7
144 65