EX-7.1 2 d433524dex71.htm EX-7.1 EX-7.1

Exhibit 7.1

Computation of Ratio of Earnings to Fixed Charges

 

(i) Excluding interest on retail deposits

 

     Year ended December 31  
     2017
£m		     2016
£m		     2015
£m		      2014
£m		      2013
£m		  

Profit on continuing operations before tax

      1,817       1,917       1,345        1,399        1,109  

Fixed charges: interest expense (B) (1)

      772       994       1,141        1,291        1,549  

Preference security dividend requirements of consolidated subsidiaries

      (19 )      (12 )      —          —          —    

Earnings before taxes and fixed charges (A)

      2,570       2,899       2,486        2,690        2,658  
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges (A/B)

      333       292       218        208        172  
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

 

(ii) Including interest on retail deposits

 

     Year ended December 31  
     2017
£m		     2016
£m		     2015
£m		      2014
£m		      2013
£m		  

Profit on continuing operations before tax

      1,817       1,917       1,345        1,399        1,109  

Fixed charges: interest expense (B) (1)

      2,102       2,885       3,120        3,363        4,207  

Preference security dividend requirements of consolidated subsidiaries

      (19 )      (12 )      —          —          —    

Earnings before taxes and fixed charges (A)

      3,900       4,790       4,465        4,762        5,316  
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges (A/B)

      186       166       143        142        126  
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Note

 

(1)  Includes the amortisation of discounts and premiums on debt securities in issue.