Notes to the consolidated financial statements
- « 4 Segmental Analysis
- 5 Net interest income
- 6 Net fee and commission income »
5 Net interest income
| Weighted average |
||||
|---|---|---|---|---|
| 2008 |
2007 |
2008 |
2007 |
|
| Interest receivable: |
||||
| Loans and advances to customers |
6.31 |
6.89 |
13,855 |
13,209 |
| Loans and advances to banks |
4.63 |
5.14 |
1,861 |
2,025 |
| Lease and hire purchase receivables |
7.62 |
6.34 |
706 |
602 |
| Interest receivable on loans and receivables |
6.11 |
6.58 |
16,422 |
15,836 |
| Available-for-sale financial assets |
4.58 |
4.83 |
1,147 |
1,038 |
| Total interest receivable |
5.98 |
6.44 |
17,569 |
16,874 |
| Interest payable: |
||||
| Deposits from banks |
3.65 |
5.00 |
(1,540) |
(1,919) |
| Customer accounts |
3.27 |
3.58 |
(4,932) |
(5,085) |
| Debt securities in issue |
4.10 |
5.08 |
(2,227) |
(2,680) |
| Subordinated liabilities |
5.82 |
5.65 |
(896) |
(741) |
| Liabilities under sale and repurchase agreements |
4.45 |
4.81 |
(256) |
(155) |
| Interest payable on liabilities held at amortised cost |
3.67 |
4.24 |
(9,851) |
(10,580) |
| Other |
– |
4.28 |
– |
(195) |
| Total interest payable |
3.61 |
4.24 |
(9,851) |
(10,775) |
| Net interest income |
7,718 |
6,099 |
||
Included within interest receivable is £435 million (2007: £395 million) in respect of impaired financial assets. Net interest income also includes a charge of £16 million (2007: credit of £1 million) transferred from the cash flow hedging reserve (see note 43).