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ANNUAL REPORT AND ACCOUNTS 2008

Consolidated income statement

for the year ended 31 December 2008
   

Note

 

2008
£ million

 

2007
£ million

Interest and similar income

     

17,569

 

16,874

Interest and similar expense

(9,851)

 

(10,775)

Net interest income

 

5

 

7,718

 

6,099

Fee and commission income

     

3,231

 

3,224

Fee and commission expense

(694)

 

(600)

Net fee and commission income

 

6

 

2,537

 

2,624

Net trading income

 

7

 

(9,186)

 

3,123

Insurance premium income

 

8

 

5,412

 

5,430

Other operating income

 

9

 

532

 

952

Other income

(705)

 

12,129

Total income

     

7,013

 

18,228

Insurance claims

10

 

2,859

 

(7,522)

Total income, net of insurance claims

     

9,872

 

10,706

Operating expenses

11

 

(6,053)

 

(5,567)

Trading surplus

     

3,819

 

5,139

Impairment

 

12

 

(3,012)

 

(1,796)

Profit on sale of businesses

13

 

 

657

Profit before tax

     

807

 

4,000

Taxation

14

 

38

 

(679)

Profit for the year

845

 

3,321

Profit attributable to minority interests

     

26

 

32

Profit attributable to equity shareholders

819

 

3,289

Profit for the year

845

 

3,321

Basic earnings per share

 

15

 

14.3p

 

58.3p

Diluted earnings per share

 

15

 

14.2p

 

57.9p

The accompanying notes are an integral part of the consolidated financial statements.

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