1 'Underlying basis' excludes Shareholder investment returns, initiatives including Which new Bank, goodwill amortisation and appraisal value uplift/(reduction).

 

1 ‘Cash basis’ for the purpose of these Financial Statements is defined as net profit after tax and before goodwill amortisation and life insurance and funds management appraisal value uplift.

2 ‘Underlying earnings’ for the purpose of these Financial Statements is defined as net profit after tax and before Shareholder investment returns, initiatives including Which new Bank, goodwill amortisation and life insurance and funds management appraisal value uplift.

3 Dividends paid divided by earnings less preference dividends.

4 Calculations based on operating profit after tax and outside equity interests applied to average Shareholders’ equity/average total assets.

5 2005, 2004 and 2003 Shareholders’ equity includes retained earnings before provision for final dividend of $1,434 million, $1,315 million and $1,066 million respectively. Prior periods’ return on average Shareholders’ equity – cash basis and underlying basis have been restated to exclude the provision for final dividend.

6 Staff numbers include all permanent full time staff, part time staff equivalents and external contractors employed by third party agencies.

7 Total Operating Expenses excluding goodwill amortisation and charge for bad and doubtful debts.

8 Prior period numbers have been restated to include preference share dividends as a deduction from operating profit.