RBS 2015 Annual Report Download - page 36

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FY 2015 vs. FY 2014
28
P&L (£m) FY 2015 vs. FY
2014 Q4 2015 vs. Q4
2014
Total Income
367 (6%) 95 (6%)
Adj. operating expenses
(1) (156) +2% (41) +14%
Restructuring costs
(4) (43%) 1 n.m.
Litigation & conduct costs
- - - -
Operating Expenses
(160) +0% (40) +5%
Impairment (losses) / releases
- n.m. - n.m.
Operating profit / (loss)
207 (13%) 55 (8%)
Key metrics
Net interest margin
1.48% (17bps) 1.49% (18bps)
Return on equity
(2) 18.5% (6ppts) 19.1% (6ppts)
Adj. return on equity
(1,2,3) 18.9% (6ppts) 18.7% (7ppts)
Cost
-income ratio 44% +3ppts 42% +4ppts
Adj. cost
-income ratio(1,3) 43% +4ppts 43% +7ppts
Balance sheet (£bn)
RWAs
8.3 +10.7% 8.3 +10.7%
RBS International
Total income was £367m, down
6% mainly due to lower deposit
margin
Adj. operating expenses were up
2% due to a higher UK bank levy
charge
Operating profit 13% lower,
principally due to lower income
Net impairments charge of nil was
recorded for 2015
Adj. RoE of 18.9% down from
24.9%
Net loans and advances
increased £0.1bn to £7.3bn.
Customer deposits grew £0.5bn
to £21.3bn
(1) Excluding restructuring costs, litigation and conduct costs and write-down of goodwill.
(2) Return on equity is based on segmental operating profit after tax adjusted for preference share dividends divided by average notional equity based on 12% (previously 13%) of the monthly average of segmental RWAes, assuming
28% tax rate; previously 25%.
(3) Excluding own credit adjustments, (loss)/gain on redemption of own debt and strategic disposals.