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Key financial data

Core Business: Full Year 2011  
Operating profit1 £6.1bn R&C underlying2 up 10%. Strong UK Retail performance
Return on Equity3 10.5% R&C 11.3%, GBM 7.7%, Insurance 10.3%
R&C NIM 3.21% (+7bps) Asset re-pricing outweighs funding cost increase in 2011
Cost : income ratio1,4 60% Cost programme delivers £3bn of savings, more to come
Impairments £3.5bn Down 7% y-o-y, primarily UK Retail and US R&C driven
Loan : deposit ratio5 94% Firmly ahead of target, deposit growth of 2%
 
Group Progress:
Operating profit £1.9bn Underlying2 up 11% vs 2010 driven by UK Retail, Insurance and Non-Core
Non-Core funded assets £94bn Down £44bn, £22bn from asset sales
Capital strength 10.6% Risk reduction offsets CRD3 uplift, APS reduction and clean-up losses
Pre-tax loss £0.8bn £6.1bn Core Bank operating profit, £8.4bn clean-up costs taken6
Notes:
  • 1 Excluding Fair Value of Own Debt (FVoD).
  • 2 Reported operating profit excluding 2010 disposal of M&IB.
  • 3 Equity allocated based on share of Group tangible equity.
  • 4 Adjusted C:I ratio net of insurance claims.
  • 5 Net of provisions.
  • 6 Includes Non-Core losses (£4.2bn), PPI (£0.9bn), Sovereign debt impairment (£1.1bn) and associated interest rate hedge adjustment (£0.2bn), Restructuring costs (1.1bn), APS charges (£0.9bn), Strategic Disposals (£0.1bn),