RBS 2013 Annual Report Download - page 145
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Business review
143
Ulster Bank
2013 2012 2011
£m £m £m
Net interest income 631 649 736
Net fees and commissions 141 145 142
Other non-interest income 99 51 69
Non-interest income 240 196 211
Total income 871 845 947
Direct expenses
- staff (239) (214) (225)
- other (63) (49) (67)
Indirect expenses (252) (258) (255)
(554) (521) (547)
Profit before impairment losses 317 324 400
Impairment losses (1,774) (1,364) (1,384)
Operating loss (1,457) (1,040) (984)
A
nalysis of income by business
Corporate 315 360 435
Retail 408 360 428
Other 148 125 84
Total income 871 845 947
A
nalysis of impairments by sector
Mortgages 235 646 570
Commercial real estate
- investment 593 221 225
- development 153 55 99
Other corporate 771 389 434
Other lending 22 53 56
Total impairment losses 1,774 1,364 1,384
Of which RCR related (1) 892 — —
Loan impairment charge as % of gross customer loans and advances
(excluding reverse repurchase agreements) by sector
Mortgages 1.2% 3.4% 2.9%
Commercial real estate
- investment 17.4% 6.1% 5.8%
- development 21.9% 7.9% 11.0%
Other corporate 10.9% 5.0% 5.6%
Other lending 1.8% 4.1% 3.5%
Total 5.6% 4.2% 4.1%
Performance ratios
Return on equity (2) (32.4%) (21.8%) (22.8%)
Net interest margin 1.91% 1.88% 1.87%
Cost:income ratio 64% 62% 58%
Notes:
(1) Pertaining to the creation of RCR and related strategy.
(2) Divisional return on equity is based on divisional operating loss after tax divided by average notional equity (based on 10% of the monthly average of divisional RWAs, adjusted for capital
deductions).