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37
RBS – Interim Results 2015
Ulster Bank
Key metrics
Half year ended Quarter ended
30 June 30 June 30 June 31 March 30 June
2015 2014 2015 2015 2014
Performance ratios
Return on equity (1) 8.0% 2.9% 9.9% 6.2% 4.9%
Return on equity - adjusted (1,2) 8.7% 3.7% 11.3% 6.1% 6.2%
Net interest margin 1.94% 2.32% 1.93% 1.95% 2.35%
Cost:income ratio 79% 73% 84% 73% 73%
Cost:income ratio - adjusted (2) 76% 69% 78% 74% 68%
30 June 31 March 31 Decembe
r
2015 2015 2014
£bn £bn Change £bn Change
Capital and balance sheet
Loans and advances to customers (gross)
Mortgages 15.9 16.3 (2%) 17.5 (9%)
Commercial real estate
- investment 0.8 0.9 (11%) 1.0 (20%)
- development 0.3 0.3 - 0.3 -
Other corporate 4.7 4.6 2% 4.9 (4%)
Other lending 0.9 0.9 - 1.0 (10%)
Total loans and advances to customers (gross) 22.6 23.0 (2%) 24.7 (9%)
Loan impairment provisions
Mortgages (1.2) (1.3) (8%) (1.4) (14%)
Commercial real estate
- investment (0.2) (0.2) - (0.2) -
- development (0.2) (0.1) 100% (0.2) -
Other corporate (0.7) (0.8) (13%) (0.8) (13%)
Other lending (0.1) (0.1) - (0.1) -
Total loan impairment provisions (2.4) (2.5) (4%) (2.7) (11%)
Net loans and advances to customers (3) 20.2 20.5 (1%) 22.0 (8%)
Total assets 26.5 26.6 - 27.6 (4%)
Funded assets 26.4 26.5 - 27.5 (4%)
Risk elements in lending
Mortgages 2.9 3.0 (3%) 3.4 (15%)
Commercial real estate
- investment 0.2 0.2 - 0.3 (33%)
- development 0.2 0.2 - 0.2 -
Other corporate 0.8 0.9 (11%) 0.8 -
Other lending 0.1 0.1 - 0.1 -
Total risk elements in lending 4.2 4.4 (5%) 4.8 (13%)
Provision coverage (4) 58% 58% - 57% 100bp
Customer deposits 18.7 19.2 (3%) 20.6 (9%)
Loan:deposit ratio (excluding repos) 108% 107% 100bp 107% 100bp
Risk-weighted assets (5,6)
- Credit risk
- non-counterparty 19.6 20.8 (6%) 22.2 (12%)
- counterparty 0.1 0.1 - 0.1 -
- Operational risk 1.5 1.5 - 1.5 -
Total risk-weighted assets 21.2 22.4 (5%) 23.8 (11%)
Spot exchange rate - €/£ 1.411 1.382 1.285
Notes:
(1) Return on equity is based on operating profit after tax adjusted for preference share dividends divided by average notional equity (based on 13% of the monthly average o
f
segmental RWAe).
(2) Excluding restructuring costs and litigation and conduct costs.
(3) Includes £9.4 billion relating to tracker mortgages (31 March 2015 - £9.7 billion; 31 December 2014 - £10.5 billion).
(4) Provision coverage represents loan impairment provisions as a percentage of risk elements in lending.
(5) RWAs on an end-point CRR basis.
(6) Includes £8.1 billion in relating to tracker mortgages (31 March 2015 - £8.5 billion; 31 December 2014 - £9.6 billion).