| Core Business: |
Q1 13 |
|
|
| Operating profit1 |
£1.3bn |
Resilient start to year |
|
| Return on Equity2 |
8.2% |
Core ex Ulster RoE 10.3% |
|
| R&C NIM |
2.90% |
Broadly stable NIM, expect gentle uplift from here |
|
| Cost : income ratio4 |
64% |
Costs down 10% YoY |
|
| Impairments |
£0.6bn |
Down 20% QoQ, Ulster down 39% YoY |
|
| Loan : deposit ratio5 |
90% |
Strong position maintained |
| |
| Group Progress: |
|
| Operating profit |
£0.8bn |
+50% QoQ driven by lower Non-Core losses and seasonally higher Markets |
|
| Non-Core funded assets |
£53bn |
Further £6bn reduction QoQ in constant currency driven by run-off and sales |
|
| Capital strength |
10.8% |
CT1 ratio increased 50bps driven by RWA reduction. FLBIII CT1 ratio increased 50bps to 8.2% |
|
| Pre-tax profit |
£0.8bn |
QoQ reduction in below the line items supports profitability |