 |
|
|
|
|
|
2000 |
1999 |
|
For the year ended 31st December 2000 |
£m |
£m |
|
 |
|
Net interest income |
5,155 |
4,627 |
|
Non-interest income (a) |
4,443 |
3,746 |
|
|
|
Operating income |
9,598 |
8,373 |
|
Operating expenses |
(5,492) |
(5,144) |
|
|
|
Operating profit before provisions |
4,106 |
3,229 |
|
Provisions for bad and doubtful debts |
(817) |
(621) |
|
Provisions for contingent liabilities and commitments |
1 |
(1) |
|
|
|
Operating profit (b) |
3,290 |
2,607 |
|
Loss from joint ventures and associated undertakings |
(8) |
(14) |
|
Exceptional items (c) |
214 |
(138) |
|
|
|
Profit on ordinary activities before tax |
3,496 |
2,455 |
|
Tax on profit on ordinary activities |
(944) |
(644) |
|
|
|
Profit on ordinary activities after tax |
2,552 |
1,811 |
|
Minority interests – equity and non-equity |
(79) |
(52) |
|
|
|
Profit for the year (d) |
2,473 |
1,759 |
|
Dividends: |
|
|
|
First Interim dividend 20.0p (1999 17.5p) |
(295) |
(262) |
|
Second Interim dividend 38.0p (1999 32.5p) |
(632) |
(484) |
|
|
|
|
(927) |
(746) |
|
Profit retained for the financial year (e) |
1,546 |
1,013 |
|
|
|
Directors’ Emoluments |
£000 |
£000 |
|
Aggregate emoluments |
5,406 |
7,372 |
|
Gains made on the exercise of share options |
– |
1,369 |
|
Amounts paid under long-term incentive schemes |
447 |
1,006 |
|
Compensation for loss of office |
1,630 |
– |
|
Notional pension contribution to money purchase |
|
|
|
schemes (2000: 2 directors, 1999: 3 directors) |
567 |
179 |
|
Earnings per ordinary share (f) |
163.3p |
117.5p |
|
|
|
|
|
The summary financial statement under Summary Directors' Report, Summary Group profit and loss account and Summary Consolidated Balance Sheet was approved by
the Board of Directors on 7th February 2001 and signed on its behalf by
Sir Peter Middleton.
|
|
(a) Non-interest income |
|
Fees and commissions, profits from insurance businesses, dealing profits
and other operating income.
|
|
(b) Operating profit |
|
Profit from all operations, except for joint ventures and associated
undertakings, after deducting costs of running the businesses, including
bad debts.
|
|
(c) Exceptional items |
|
Profits (or losses) from the sale, closure or restructuring of assets or
businesses, other than in the normal course of business.
|
|
(d) Profit for the year |
|
Operating profit plus profits and losses from joint ventures and associated
undertakings less tax, adjusted for exceptional items and minority interests.
|
|
(e) Profit retained for the year |
|
Profit for the year less dividends declared.
|
|
(f) Earnings per ordinary share |
|
Profit for the year divided by the average number of shares outstanding
during the year.
|
