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 |
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| 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 | |||||||||||||||
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| Ratio of earnings to fixed charges (A/B) |
333 | 292 | 218 | 208 | 172 | |||||||||||||||
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| (ii) | Including interest on retail deposits |
| Year ended December 31 | ||||||||||||||||||||
| 2017 £m |
2016 £m |
2015 £m |
2014 £m |
2013 £m |
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| 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 | |||||||||||||||
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| Ratio of earnings to fixed charges (A/B) |
186 | 166 | 143 | 142 | 126 | |||||||||||||||
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Note
| (1) | Includes the amortisation of discounts and premiums on debt securities in issue. |