RBS 2010 Annual Report Download - page 343

(c) Assets and liabilities of disposal groups
Sempra Other 2010 2009 2008
£m £m £m £m £m
Assets of disposal groups
Cash and balances at central banks —184 184 129 —
Loans and advances to banks 629 22 651 388 —
Loans and advances to customers 440 4,573 5,013 3,216 —
Debt securities and equity shares 17 3 20
904 —
Derivatives 4,768 380 5,148
6,361 —
Intangible assets — — — 238 —
Settlement balances 555 — 555 1,579 —
Property, plant and equipment 18 — 18 136 66
Other assets 260 444 704
5,417 —
Discontinued operations and other disposal groups 6,687 5,606 12,293
18,368 66
Assets acquired exclusively with a view to disposal —191 191 174 1,515
6,687 5,797 12,484
18,542 1,581
Liabilities of disposal groups
Deposits by banks 266 — 266 618 —
Customer accounts 352 1,915 2,267 8,907 —
Derivatives 5,021 21 5,042
6,683 —
Settlement balances 907 — 907 950 —
Subordinated liabilities — — — 6 —
Other liabilities 393 532 925
1,675 —
Discontinued operations and other disposal groups 6,939 2,468 9,407
18,839 —
Liabilities acquired exclusively with a view to disposal —21 21 51 859
6,939 2,489 9,428
18,890 859
To comply with EC State Aid requirements, the Group has agreed to
make a series of divestments within four years from December 2009.
During 2010, the Group successfully completed the disposal of 80.01% of
Global Merchant Services and substantially all of the RBS Sempra
Commodities JV. Certain contracts of the RBS Sempra Commodities JV
business were sold in risk transfer transactions prior to being novated to
the purchaser and they comprise substantially all of its residual assets
and liabilities. RBS Sempra Commodities JV was the only significant
divestment that met the criteria for classification as a disposal group at 31
December 2010.
The other assets and liabilities classified as disposal groups include the
project finance assets to be sold to The Bank of Tokyo-Mitsubishi UFJ,
Ltd, and certain Non-Core interests in Latin America, Europe and the
Middle East.
341RBS Group 2010
Financial statements