Financial review

	Consolidated balance sheet summary (a)
		2000	1999	1998	1997	1996
	Assets	£m	£m	£m	£m	£m
	Loans and advances to banks and customers	198,536	156,194	132,722	136,707	118,441
	Other assets	102,493	88,470	77,402	87,499	59,480
		301,029	244,664	210,124	224,206	177,921
	Infrastructure	6,450	2,089	2,285	2,264	2,400
		307,479	246,753	212,409	226,470	180,321
	Retail life-fund assets attributable to policyholders	8,711	8,040	7,085	5,959	4,840
	Total assets	316,190	254,793	219,494	232,429	185,161
	Liabilities
	Deposits by banks, customer accounts and debt
	securities in issue	240,607	191,781	161,049	173,283	142,554
	Other liabilities	45,715	41,540	39,470	42,377	27,159
		286,322	233,321	200,519	215,660	169,713
	Capital resources
	Undated loan capital	2,672	1,749	1,742	1,657	1,635
	Dated loan capital	3,698	2,848	1,992	1,211	1,396
	Other subordinated liabilities	–	–	–	59	56
	Minority and other interests	1,600	352	314	326	320
	Shareholders’ funds	13,187	8,483	7,842	7,557	7,201
		21,157	13,432	11,890	10,810	10,608
		307,479	246,753	212,409	226,470	180,321
	Retail life-fund liabilities attributable to policyholders	8,711	8,040	7,085	5,959	4,840
	Total liabilities and shareholders’ funds	316,190	254,793	219,494	232,429	185,161
	Weighted risk assets and capital ratios
	Weighted risk assets	147,040	115,878	109,800	108,341	98,405
	Tier 1 ratio	7.2%	7.5%	7.3%	7.2%	7.5%
	Risk asset ratio	11.0%	11.3%	10.6%	9.9%	10.3%
	Selected financial statistics
	Average shareholders’ funds as a percentage of
	average total assets (note (b))	3.2%	3.4%	3.2%	3.5%	3.9%
	Net asset value per ordinary share	794p	568p	519p	494p	467p
	Year-end US dollar exchange rates used in preparing the accounts	1.49	1.62	1.66	1.65	1.71
	Year-end euro exchange rate used in preparing the accounts	1.60	1.61	–	–	–
	Notes
	(a) The financial information presented above and Consolidated profit and loss account summary is extracted from the published accounts for the last five years, restated where appropriate to accord with the current accounting policies of the Group (see Accounting policies). This information should be read together with, and is qualified by reference to, the accounts and notes included in this report. (b) For the purposes of this summary, the retail life-fund assets attributable to policy holders have been excluded from average total assets. (c) The write-down of leases in 1998 and 1997 and the life-fund charge in 1997 reflect the impact of the Finance Acts in those years. (d) Note 61 to the accounts provides a reconciliation of net profit and shareholders’ funds between the amounts calculated under UK GAAP and US GAAP.