Total Banking

Total Banking includes Retail Banking, Corporate & Institutional Banking and Other (including Excess Capital, Group Funding & Corporate Centre). It excludes Wealth Management.

Performance Summary

	Year to		Fav/(unfav) change on Sep 02

	Sep 03 $m	Sep 02 $m	%	Ex FX⁽¹⁾ %

Net interest income	7,302	7,101	2.8	4.5
Other operating income ⁽²⁾	4,394	3,981	10.4	11.7

Total income	11,696	11,082	5.5	7.1
FSE pension fund expense	(93)	(28)	large	large
Other operating expenses ⁽²⁾	(5,572)	(5,304)	(5.1)	(6.5)

Underlying profit	6,031	5,750	4.9	6.4
Charge to provide for doubtful debts	(632)	(648)	2.5	(0.2)

Cash earnings before tax	5,399	5,102	5.8	7.2
Income tax expense	(1,512)	(1,460)	(3.6)	(4.2)

Cash earnings before significant items	3,887	3,642	6.7	8.4
Net profit attributable to outside equity interest	(8)	-	large	large

Cash earnings before significant items after outside equity interest	3,879	3,642	6.5	8.2

	Half year to		Fav/(unfav) change on Mar 03

	Sep 03 $m	Mar 03 $m	%	Ex FX⁽¹⁾ %

Net interest income	3,610	3,692	(2.2)	1.9
Other operating income ⁽²⁾	2,270	2,124	6.9	10.6

Total income	5,880	5,816	1.1	5.1
FSE pension fund expense	(53)	(40)	(32.5)	(45.0)
Other operating expenses ⁽²⁾	(2,862)	(2,710)	(5.6)	(10.0)

Underlying profit	2,965	3,066	(3.3)	0.3
Charge to provide for doubtful debts	(311)	(321)	3.1	(2.2)

Cash earnings before tax	2,654	2,745	(3.3)	-
Income tax expense	(731)	(781)	6.4	3.7

Cash earnings before significant items	1,923	1,964	(2.1)	1.5
Net profit attributable to outside equity interest	(4)	(4)	-	-

Cash earnings before significant items after outside equity interest	1,919	1,960	(2.1)	1.5

Performance & profitability

	Half year to		Year to

	Sep 03 %	Mar 03 %	Sep 03 %	Sep 02 %

Cost to income ratio	49.6%	47.3%	48.4%	48.1%
Cost to income ratio (excl. FSE pension expense)	48.7%	46.6%	47.6%	47.9%

⁽¹⁾ Change expressed at constant foreign exchange rates.
⁽²⁾ Total Banking is gross of inter-divisional eliminations.

Total Banking

Share price

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