RBS 2013 Annual Report Download - page 142
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Business review
140
International Banking 2013 2012 2011
£m £m £m
Net interest income 713 922 1,199
Non-interest income 1,135 1,200 1,356
Total income 1,848 2,122 2,555
Direct expenses
- staff (530) (580) (710)
- other (171) (164) (228)
Indirect expenses (639) (673) (694)
(1,340) (1,417) (1,632)
Profit before impairment losses 508 705 923
Impairment losses (229) (111) (168)
Operating profit 279 594 755
Of which:
Ongoing businesses 279 602 773
Run-off businesses — (8) (18)
A
nalysis of income by product
Cash management 738 943 940
Trade finance 295 291 275
Loan portfolio 814 865 1,265
Ongoing businesses 1,847 2,099 2,480
Run-off businesses 1 23 75
Total income 1,848 2,122 2,555
A
nalysis of impairments/(recoveries) by sector
Manufacturing and infrastructure 147 42 254
Property and construction 15 7 17
Transport and storage 55 (3) 11
Telecommunications, media and technology (7) 12 —
Banks and financial institutions (15) 43 (42)
Other 34 10 (72)
Total impairment losses 229 111 168
Of which RCR related (1) 52 — —
Loan impairment charge as % of gross customer loans and advances
(excluding reverse repurchase agreements) 0.6% 0.3% 0.3%
Performance ratios (ongoing businesses)
Return on equity (2) 3.9% 9.1% 11.5%
Net interest margin 1.59% 1.64% 1.73%
Cost:income ratio 73% 66% 62%
Notes:
(1) Pertaining to the creation of RCR and related strategy.
(2) Divisional return on equity is based on divisional operating profit after tax divided by average notional equity (based on 10% of the monthly average of divisional RWAs, adjusted for capital
deductions), for the ongoing businesses.