EX-7.1

EX-7.1 2 d433641dex71.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

1,814

1,914

1,342

1,399

1,109

Fixed charges: interest expense (B) ⁽¹⁾

919

1,076

1,146

1,291

1,549

Preference security dividend requirements of consolidated subsidiaries

(37

)

(30

)

(23

)

(40

)

(57

)

Earnings before taxes and fixed charges (A)

2,696

2,960

2,465

2,650

2,601

Ratio of earnings to fixed charges (A/B)

293

275

215

205

168

(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

1,814

1,914

1,342

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

(37

)

(30

)

(23

)

(40

)

(57

)

Earnings before taxes and fixed charges (A)

3,879

4,769

4,439

4,722

5,259

Ratio of earnings to fixed charges (A/B)

185

165

142

140

125

Note

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