For the year ended 31st December
| 2005 | 2004 | |
| £m | £m | |
| Net interest income | 8,075 | 6,833 |
| Net fee and commission income | 5,705 | 4,847 |
| 13,780 | 11,680 | |
| Other income(a) | 4,198 | 3,687 |
| Total income | 17,978 | 15,367 |
| Net claims and benefits paid on insurance contracts | (645) | (1,259) |
| Total income net of insurance claims | 17,333 | 14,108 |
| Impairment charge and other credit provisions | (1,571) | (1,093) |
| Net income | 15,762 | 13,015 |
| Operating expenses(b) | (10,527) | (8,536) |
| Associates and joint ventures(c) | 45 | 101 |
| Profit before tax | 5,280 | 4,580 |
| Tax | (1,439) | (1,279) |
| Profit for the year | 3,841 | 3,301 |
| Profit attributable to minority interests | 394 | 47 |
| Profit attributable to equity holders of the parent | 3,447 | 3,254 |
| 3,841 | 3,301 | |
| Dividends | ||
| Interim dividend 9.20p (2004: 8.25p) | £582m | £528m |
| Proposed final dividend(d) 17.40p (2004: 15.75p) | £1,105m | £1,001m |
| Earnings per share(e) | 54.4p | 51.0p |
| Diluted earnings per share(f) | 52.6p | 49.8p |
The Summary consolidated income statement and the Summary consolidated balance sheet were approved by the Board of Directors on 9th March 2006 and signed on its behalf by Matthew W Barrett.
Notes
- Other income: Net trading income, investment income, net premiums from insurance contracts and other income.
- Operating expenses: includes amortisation of intangible assets.
- Associates and joint ventures: Share of post-tax results of associates and joint ventures and profit on disposal of associates and joint ventures.
- Dividends: The financial statements for the year ended 31st December 2005 do not reflect these dividends, which will be accounted for in shareholders' funds as an appropriation of retained profits for the year ending 31st December 2006. The financial statements to 31st December 2005 include the 2004 final dividend of £1,001m.
- Earnings per share: Profit for the year divided by the average number of shares outstanding during the year.
- Diluted earnings per share: Profit for the year adjusted for the effect of conversion of options granted over certain subsidiary entities' shares divided by the weighted average number of shares adjusted assuming conversion of all dilutive potential shares.
