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Consolidating financial information (Tables)
6 Months Ended
Jun. 30, 2018
Consolidating financial information  
Schedule of Consolidating financial information

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

For the six months ended 30 June 2018

 

£m

 

£m

 

£m

 

£m

 

£m

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

(136

)

(72

)

3,468

 

1,066

 

4,326

 

Non-interest income

 

33,980

 

62

 

1,459

 

(33,125

)

2,376

 

 

 

 

 

 

 

 

 

 

 

 

 

Total income

 

33,844

 

(10

)

4,927

 

(32,059

)

6,702

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

(60

)

(627

)

(2,756

)

(1,292

)

(4,735

)

Impairment losses

 

(4

)

(13

)

(69

)

(55

)

(141

)

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit/(loss) before tax

 

33,780

 

(650

)

2,102

 

(33,406

)

1,826

 

Tax credit/(charge)

 

34

 

37

 

(621

)

(191

)

(741

)

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(loss) from continuing operations

 

33,814

 

(613

)

1,481

 

(33,597

)

1,085

 

Profit/(loss) from discontinued operations, net of tax

 

—

 

262

 

—

 

(262

)

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(loss) for the period

 

33,814

 

(351

)

1,481

 

(33,859

)

1,085

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attributable to:

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

1

 

(17

)

(16

)

Preference shareholders

 

74

 

—

 

—

 

—

 

74

 

Paid-in equity holders

 

139

 

—

 

—

 

—

 

139

 

Ordinary shareholders

 

33,601

 

(351

)

1,480

 

(33,842

)

888

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

33,814

 

(351

)

1,481

 

(33,859

)

1,085

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of comprehensive income

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

For the six months ended 30 June 2018

 

£m

 

£m

 

£m

 

£m

 

£m

 

Profit/(loss) for the period

 

33,814

 

(351

)

1,481

 

(33,859

)

1,085

 

 

 

 

 

 

 

 

 

 

 

 

 

Items that do not qualify for reclassification

 

 

 

 

 

 

 

 

 

 

 

Funding commitment to retirement benefit schemes

 

—

 

—

 

(2,000

)

—

 

(2,000

)

Changes in fair value of credit in financial liabilities designated at fair value through profit

 

—

 

59

 

36

 

—

 

95

 

Fair value through other comprehensive income

 

—

 

—

 

(3

)

6

 

3

 

Tax (charge)/credit

 

—

 

(16

)

516

 

—

 

500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

43

 

(1,451

)

6

 

(1,402

)

 

 

 

 

 

 

 

 

 

 

 

 

Items that do qualify for reclassification

 

 

 

 

 

 

 

 

 

 

 

Fair value through other comprehensive income

 

—

 

(323

)

532

 

(10

)

199

 

Cash flow hedges

 

28

 

234

 

(433

)

(350

)

(521

)

Currency translation

 

—

 

56

 

(393

)

355

 

18

 

Tax (charge)/credit

 

(5

)

27

 

(20

)

95

 

97

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23

 

(6

)

(314

)

90

 

(207

)

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income/(loss) after tax

 

23

 

37

 

(1,765

)

96

 

(1,609

)

Total comprehensive income/(loss) for the period

 

33,837

 

(314

)

(284

)

(33,763

)

(524

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income/(loss) attributable to:

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

2

 

(31

)

(29

)

Preference shareholders

 

74

 

—

 

—

 

—

 

74

 

Paid-in equity holders

 

139

 

—

 

—

 

—

 

139

 

Ordinary shareholders

 

33,624

 

(314

)

(276

)

(33,742

)

(708

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

33,837

 

(314

)

(274

)

(33,773

)

(524

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Income statement

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments (1)

 

Group

 

For the six months ended 30 June 2017

 

£m

 

£m

 

£m

 

£m

 

£m

 

Net interest income

 

105

 

(34

)

3,063

 

1,338

 

4,472

 

Non-interest income

 

37

 

953

 

864

 

593

 

2,447

 

 

 

 

 

 

 

 

 

 

 

 

 

Total income

 

142

 

919

 

3,927

 

1,931

 

6,919

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

(78

)

(779

)

(1,753

)

(2,242

)

(4,852

)

Impairment releases/(losses)

 

—

 

22

 

(91

)

(47

)

(116

)

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit/(loss) before tax

 

64

 

162

 

2,083

 

(358

)

1,951

 

Tax charge

 

(19

)

(100

)

(441

)

(167

)

(727

)

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(loss) from continuing operations

 

45

 

62

 

1,642

 

(525

)

1,224

 

Profit/(loss) from discontinued operations, net of tax

 

—

 

395

 

(1

)

(394

)

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit/(loss) for the period

 

45

 

457

 

1,641

 

(919

)

1,224

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attributable to:

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

2

 

27

 

29

 

Preference shareholders

 

85

 

—

 

—

 

—

 

85

 

Paid-in equity holders

 

167

 

—

 

—

 

4

 

171

 

Ordinary shareholders

 

(207

)

457

 

1,639

 

(950

)

939

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

45

 

457

 

1,641

 

(919

)

1,224

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of comprehensive income

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

For the six months ended 30 June 2017

 

£m

 

£m

 

£m

 

£m

 

£m

 

Profit/(loss) for the period

 

45

 

457

 

1,641

 

(919

)

1,224

 

 

 

 

 

 

 

 

 

 

 

 

 

Items that do not qualify for reclassification

 

 

 

 

 

 

 

 

 

 

 

Loss on remeasurement of retirement benefit schemes

 

—

 

—

 

(26

)

—

 

(26

)

Changes in fair value of credit in financial liabilities designated at fair value through profit

 

—

 

(45

)

(32

)

—

 

(77

)

Tax (charge)/credit

 

—

 

(13

)

5

 

—

 

(8

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—

 

(58

)

(53

)

—

 

(111

)

 

 

 

 

 

 

 

 

 

 

 

 

Items that do qualify for reclassification

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale financial assets

 

—

 

30

 

(312

)

311

 

29

 

Cash flow hedges

 

(111

)

(224

)

(2

)

(274

)

(611

)

Currency translation

 

—

 

(46

)

313

 

(164

)

103

 

Tax credit

 

21

 

52

 

16

 

72

 

161

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(90

)

(188

)

15

 

(55

)

(318

)

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss after tax

 

(90

)

(246

)

(38

)

(55

)

(429

)

Total comprehensive (loss)/income for the period

 

(45

)

211

 

1,603

 

(974

)

795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive (loss)/income attributable to:

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

—

 

49

 

49

 

Preference shareholders

 

85

 

—

 

—

 

—

 

85

 

Paid-in equity holders

 

167

 

—

 

—

 

4

 

171

 

Ordinary shareholders

 

(297

)

211

 

1,603

 

(1,027

)

490

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(45

)

211

 

1,603

 

(974

)

795

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

At 30 June 2018

 

£m

 

£m

 

£m

 

£m

 

£m

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Cash and balances at central banks

 

—

 

93

 

102,269

 

228

 

102,590

 

Loans and advances to banks

 

13,271

 

37,430

 

2,443

 

(25,305

)

27,839

 

Loans and advances to customers

 

16,556

 

43,151

 

304,175

 

(14,744

)

349,138

 

Debt securities

 

230

 

37,606

 

58,354

 

(3,921

)

92,269

 

Equity shares

 

3

 

56

 

354

 

168

 

581

 

Investments in Group undertakings

 

47,559

 

376

 

1,816

 

(49,751

)

—

 

Settlement balances

 

—

 

7,747

 

1,557

 

(979

)

8,325

 

Derivatives

 

436

 

154,469

 

2,471

 

(6,240

)

151,136

 

Intangible assets

 

—

 

—

 

6,272

 

298

 

6,570

 

Property, plant and equipment

 

—

 

2

 

4,034

 

334

 

4,370

 

Deferred tax

 

—

 

—

 

2,152

 

(337

)

1,815

 

Prepayments, accrued income and other assets

 

33,901

 

677

 

3,486

 

(34,444

)

3,620

 

Assets of disposals groups

 

—

 

70,275

 

83

 

(70,275

)

83

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

111,956

 

351,882

 

489,466

 

(204,968

)

748,336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Deposits by banks

 

—

 

22,765

 

23,110

 

2,835

 

48,710

 

Customer accounts

 

—

 

41,253

 

402,346

 

(41,799

)

401,800

 

Debt securities in issue

 

14,155

 

15,790

 

7,412

 

(634

)

36,723

 

Settlement balances

 

—

 

7,090

 

1,683

 

(974

)

7,799

 

Short positions

 

—

 

32,552

 

2,833

 

(344

)

35,041

 

Derivatives

 

454

 

145,618

 

4,581

 

(6,964

)

143,689

 

Provisions for liabilities and charges

 

72

 

2,335

 

4,585

 

3

 

6,995

 

Accruals, deferred income and other liabilities

 

236

 

34,486

 

5,927

 

(34,808

)

5,841

 

Retirement benefit liabilities

 

—

 

53

 

2,063

 

14

 

2,130

 

Deferred tax

 

35

 

333

 

460

 

(327

)

501

 

Subordinated liabilities

 

8,016

 

6,467

 

2,043

 

(5,924

)

10,602

 

Liabilities of disposal groups

 

—

 

32,564

 

14

 

(32,564

)

14

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

22,968

 

341,306

 

457,057

 

(121,486

)

699,845

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

59

 

675

 

734

 

Owners’ equity

 

88,988

 

10,576

 

32,350

 

(84,157

)

47,757

 

 

 

 

 

 

 

 

 

 

 

 

 

Total equity

 

88,988

 

10,576

 

32,409

 

(83,482

)

48,491

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and equity

 

111,956

 

351,882

 

489,466

 

(204,968

)

748,336

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

At 31 December 2017

 

£m

 

£m

 

£m

 

£m

 

£m

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Cash and balances at central banks

 

—

 

93

 

36,707

 

61,537

 

98,337

 

Loans and advances to banks

 

14,503

 

18,814

 

7,647

 

(10,713

)

30,251

 

Loans and advances to customers

 

10,480

 

45,658

 

203,988

 

89,793

 

349,919

 

Debt securities

 

104

 

27,334

 

8,317

 

43,178

 

78,933

 

Equity shares

 

3

 

50

 

244

 

153

 

450

 

Investments in Group undertakings

 

47,559

 

496

 

320

 

(48,375

)

—

 

Settlement balances

 

—

 

1,640

 

938

 

(61

)

2,517

 

Derivatives

 

163

 

162,005

 

3,101

 

(4,426

)

160,843

 

Intangible assets

 

—

 

—

 

531

 

6,012

 

6,543

 

Property, plant and equipment

 

—

 

5

 

3,221

 

1,376

 

4,602

 

Deferred tax

 

—

 

165

 

1,361

 

214

 

1,740

 

Prepayments, accrued income and other assets

 

50

 

591

 

2,325

 

760

 

3,726

 

Assets of disposals groups

 

—

 

269,038

 

195

 

(269,038

)

195

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

72,862

 

525,889

 

268,895

 

(129,590

)

738,056

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Deposits by banks

 

—

 

18,304

 

(72,131

)

100,725

 

46,898

 

Customer accounts

 

—

 

37,097

 

303,086

 

57,853

 

398,036

 

Debt securities in issue

 

9,202

 

12,362

 

1,137

 

7,858

 

30,559

 

Settlement balances

 

—

 

1,411

 

1,477

 

(44

)

2,844

 

Short positions

 

—

 

26,207

 

2,552

 

(232

)

28,527

 

Derivatives

 

284

 

155,098

 

3,289

 

(4,165

)

154,506

 

Provisions for liabilities and charges

 

127

 

2,230

 

3,354

 

2,046

 

7,757

 

Accruals, deferred income and other liabilities

 

165

 

479

 

3,629

 

2,119

 

6,392

 

Retirement benefit liabilities

 

—

 

52

 

59

 

18

 

129

 

Deferred tax

 

146

 

100

 

443

 

(106

)

583

 

Subordinated liabilities

 

7,977

 

—

 

(3,523

)

8,268

 

12,722

 

Liabilities of disposal groups

 

—

 

228,027

 

10

 

(228,027

)

10

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

17,901

 

481,367

 

243,382

 

(53,687

)

688,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

—

 

—

 

131

 

632

 

763

 

Owners’ equity

 

54,961

 

44,522

 

25,382

 

(76,535

)

48,330

 

 

 

 

 

 

 

 

 

 

 

(

 

Total equity

 

54,961

 

44,522

 

25,513

 

(75,903

)

49,093

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and equity

 

72,862

 

525,889

 

268,895

 

(129,590

)

738,056

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flow statement

 

 

 

 

 

 

 

 

 

Consolidation

 

RBSG

 

 

 

RBSG plc

 

NWM Plc

 

Subsidiaries

 

adjustments

 

Group

 

For the six months ended 30 June 2018

 

£m

 

£m

 

£m

 

£m

 

£m

 

Net cash flows from operating activities

 

273

 

25,094

 

(17,109

)

1,540

 

9,798

 

Net cash flows from investing activities

 

—

 

(617

)

(51,681

)

48,529

 

(3,769

)

Net cash flows from financing activities

 

(345

)

(1,082

)

(1,925

)

1,045

 

(2,307

)

Effects of exchange rate changes on cash and cash equivalents

 

(1

)

708

 

(192

)

(477

)

38

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (decrease)/increase in cash and cash equivalents

 

(73

)

24,103

 

(70,907

)

50,637

 

3,760

 

Cash and cash equivalents at 1 January 2018

 

245

 

13,058

 

196,214

 

(86,912

)

122,605

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at 30 June 2018

 

172

 

37,161

 

125,307

 

(36,275

)

126,365

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended 30 June 2017

 

 

 

 

 

 

 

 

 

 

 

Net cash flows from operating activities

 

2,245

 

18,024

 

10,724

 

(674

)

30,319

 

Net cash flows from investing activities

 

(2,179

)

(1,781

)

3,531

 

(5,890

)

(6,319

)

Net cash flows from financing activities

 

(716

)

(4,032

)

(820

)

754

 

(4,814

)

Effects of exchange rate changes on cash and cash equivalents

 

(9

)

7

 

(566

)

504

 

(64

)

 

 

 

 

 

 

 

 

 

 

 

 

Net (decrease)/increase in cash and cash equivalents

 

(659

)

12,218

 

12,869

 

(5,306

)

19,122

 

Cash and cash equivalents at 1 January 2017

 

1,195

 

99,073

 

89,431

 

(91,129

)

98,570

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at 30 June 2017

 

536

 

111,291

 

102,300

 

(96,435

)

117,692