RBS 2009 Annual Report Download - page 147
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Business review
Risk, capital and liquidity management
145RBS Group Annual Report and Accounts 2009
Impairment charge
The following table shows impairment losses charged to the income statement.
2009
Group before RFS
RFS Holdings Holdings
minority minority 2008 2007
Core Non-Core interest interest Group Group Group
£m £m £m £m £m £m £m
New impairment losses 4,867 9,357 14,224 1,125 15,349 8,391 2,310
less: recoveries of amounts previously written-off (189) (136) (325) (74) (399) (319) (342)
Charge to income statement 4,678 9,221 13,899 1,051 14,950 8,072 1,968
Comprising:
Loan impairment losses 4,567 8,523 13,090 1,044 14,134 7,091 1,946
Impairment losses on available-for-sale securities 111 698 809 7 816 981 22
Charge to income statement 4,678 9,221 13,899 1,051 14,950 8,072 1,968
Impairment charge by division
2009 2008 2007
Division £m £m £m
UK Retail 1,679 1,019 975
UK Corporate 927 319 178
Wealth 33 16 3
Global Banking & Markets 640 522 66
Global Transaction Services 39 54 14
Ulster Bank 649 106 46
US Retail & Commercial 702 437 246
RBS Insurance 842 —
Central items 1(19) 3
Core 4,678 2,496 1,531
Non-Core 9,221 4,936 399
Group before RFS Holdings minority interest 13,899 7,432 1,930
RFS Holdings minority interest 1,051 640 38
Group 14,950 8,072 1,968
Key point
•Impairment losses increased by £6.9 billion to £15.0 billion. Non-Core accounted for 62% (£4.3 billion) of the increase. Retail and commercial
business in UK, Ireland and the US also recorded significant increases in loans impairments.