RBS 2005 Annual Report Download - page 234

232
Additional information
Additional information
Financial summary
The Group’s accounts are prepared in accordance with IFRS, which differ in certain significant respects from US GAAP.
For a discussion of such differences and a reconciliation between IFRS and US GAAP, see Note 46 on the accounts.
The dollar financial information included below has been converted from sterling at a rate of £1.00 to US$1.7188, being
the Noon Buying Rate on 30 December 2005.
Amounts in accordance with IFRS
2005 2005 2004
Summary consolidated income statement – IFRS $m £m £m
Net interest income 17,047 9,918 9,071
Non-interest income (1) 27,473 15,984 14,320
Total income 44,520 25,902 23,391
Operating expenses (2, 3, 4) 20,533 11,946 10,362
Insurance net claims 7,413 4,313 4,260
Operating profit before impairment losses 16,574 9,643 8,769
Impairment losses 2,934 1,707 1,485
Operating profit before tax 13,640 7,936 7,284
Tax 4,087 2,378 1,995
Profit for the year 9,553 5,558 5,289
Minority interests 98 57 177
Preference dividends 187 109 256
Profit attributable to ordinary shareholders 9,268 5,392 4,856
Notes:
(1) Includes gain on sale of strategic investment of £333 million for the year ended 31 December 2005 (2004 – nil).
(2) Includes loss on sale of subsidiaries of £93 million for the year ended 31 December 2005 (2004 – nil).
(3) Includes integration expenditure of £458 million for the year ended 31 December 2005 (2004 – £520 million).
(4) Includes purchased intangibles amortisation of £97 million for the year ended 31 December 2005 (2004 – £45 million).
2005 2005 2004
Summary consolidated balance sheet – IFRS $m £m £m
Loans and advances 838,453 487,813 408,324
Debt securities and equity shares 223,901 130,266 98,631
Derivatives at fair value and settlement balances 174,747 101,668 23,482
Other assets 98,109 57,080 57,685
Total assets 1,335,210 776,827 588,122
Shareholders’ equity 60,906 35,435 33,905
Minority interests 3,625 2,109 3,492
Subordinated liabilities 48,597 28,274 20,366
Total capital resources 113,128 65,818 57,763
Deposits 779,087 453,274 383,198
Derivatives at fair value, settlement balances and short positions 241,364 140,426 51,866
Other liabilities 201,631 117,309 95,295
Total liabilities and equity 1,335,210 776,827 588,122