FORM 6-K

 

FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549


Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of February 2009

Commission File Number: 001-10306

The Royal Bank of Scotland Group plc

RBS, Gogarburn, PO Box 1000
Edinburgh EH12 1HQ

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F    X     Form 40-F        

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_________

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes           No    X  

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________


The following information was issued as Company announcements, in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K: ________

 

 

THE ROYAL BANK OF SCOTLAND GROUP plc 

APPENDIX 1 Reconciliations of pro forma to statutory income statements and balance sheets 

INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2008

 

Pro forma  

RFS  

minority  

interest 

RBS share  

of shared  

assets 

Credit 

 market  

write-downs  

and one-off  items 

Intangibles  

amortisation  

and  

integration  

costs  

Write-down of 

 goodwill and 

 other intangible 

 assets 

Statutory 
 

£m  

£m 

£m  

£m 

£m  

£m 

£m 
               

Net interest income

15,939 

2,911 

(175)

- 

- 

- 

18,675 
               

Non-interest income (excluding insurance net premium income)

5,227 

1,299 

(18)

(5,641)

 

- 

867 

Insurance net premium income

5,709 

617 

- 

- 

- 

- 

6,326 
               

Non-interest income excluding credit market write-downs 

and one-off items

10,936 

1,916 

(18)

(5,641)

- 

- 

7,193 

Credit market write-downs and one-off items

(5,641)

- 

- 

5,641 

- 

- 

- 
               

Non-interest income 

5,295 

1,916 

(18)

- 

- 

- 

7,193 
               

Total income

21,234 

4,827 

(193)

- 

- 

- 

25,868 

Operating expenses

15,916 

19,303 

103 

- 

1,800 

16,911 

54,033 
               

Profit/(loss) before other operating charges

5,318 

(14,476)

(296)

- 

(1,800)


(16,911) 

(28,165)

Insurance net claims

3,917 

513 

- 

- 

- 

- 

4,430 
               

Operating profit/(loss) before impairment losses

1,401 

(14,989)

(296)

- 

(1,800)


(16,911)

(32,595)

Impairment losses before reclassified asset impairment

6,962 

640 

4 

466 

- 

- 

8,072 

Impairment losses on reclassified assets

466 

- 

- 

(466)

- 

- 

- 
               

Group operating loss

(6,027)

(15,629)

(300)

- 

(1,800)

(16,911)

(40,667)

Amortisation of purchased intangible assets

443 

- 

- 

- 

(443)

- 

- 

Integration costs

1,050 

- 

- 

- 

(1,050)

- 

- 

Restructuring costs

307 

- 

- 

- 

(307)

- 

- 

Write-down of goodwill and other intangible assets

16,911 

- 

- 

- 

- 

(16,911)

- 

Share of shared assets

 300 

- 

(300)

- 

- 

- 

- 
               

Loss before tax

(25,038)

(15,629)

- 

- 

- 

- 

(40,667)

Tax

(1,995)

(328)

- 

- 

- 

- 

(2,323)
               

Loss from continuing operations

(23,043)

(15,301)

- 

- 

- 

- 

(38,344)

Profit/(loss) from discontinued operations, net of tax

-  

4,057 

(86)

- 

- 

- 

3,971 
               

Loss for the period

(23,043)

(11,244)

(86)

- 

- 

- 

(34,373)

Minority interests

412 

(11,244)

- 

- 

- 

- 

(10,832)

Preference dividends

596 

- 

- 

- 

- 

- 

596 
               

Loss attributable to ordinary shareholders

(24,051)

- 

(86)

- 

- 

- 

(24,137)


  

INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2007

 

Pro forma 

289   days  RBS   share 

of ABN 

AMRO 






Funding  
adjustment 

76 days

RBS share  of shared  

assets 

76 days RFS minority interest 

Credit  

market  

write-downs  

and  

one-off 

 items 

Intangibles  

amortisation  

and  

integration  

costs 

Restated Statutory
 

£m 

£m 

£m

£m 

£m

£m 

£m 

£m
                 

Net interest income

12,382 

(1,350)

477

15 

545

- 

- 

12,069
                 

Non-interest income (excluding insurance net premium income)

15,200 

(1,866)

16

(54)

182

(1,268)

- 

12,210

Insurance net premium income

5,982 

- 

-

- 

105

- 

- 

6,087
                 

Non-interest income excluding credit market write-downs and one-off items

21,182 

(1,866)

16

(54)

287

(1,268)

- 

18,297

Credit market write-downs and one-off items 

(1,268)

-

-

-

-

1,268 

- 

-
                 

Non-interest income

19,914 

(1,866)

16

(54)

287

- 

- 

18,297
                 

Total income

32,296 

(3,216)

493

(39)

832

- 

- 

30,366

Operating expenses excluding one-off items

16,618 

(3,376)

-

37 

535

(242)

370 

13,942

One-off items 

(242)

-

-

- 

-

242 

- 

-
                 

Profit before other operating charges

15,920 

160 

493

(76)

297

- 

(370)

16,424

Insurance net claims

4,528 

- 

-

- 

96

- 

- 

4,624
                 

Operating profit before impairment losses

11,392 

160 

493

(76)

201

- 

(370)

11,800

Impairment losses

2,104 

(171)

-

(3)

38

- 

- 

1,968
                 

Group operating profit

9,288 

331 

493

(73)

163

- 

(370)

9,832

Amortisation of purchased intangible assets

124 

53 

-

- 

85

- 

(262)

-

Integration costs

108 

- 

-

- 

-

- 

(108)

-

Share of shared assets

94 

(21)

-

(73)

-

- 

- 

-
                 

Profit before tax

8,962 

299 

493

- 

78

- 

- 

9,832

Tax

1,709 

193 

148

- 

(6)

- 

- 

2,044
                 

Profit from continuing operations

7,253 

106 

345

- 

84

- 

- 

7,788

Loss from discontinued operations, net of tax

- 

- 

-

- 

76

- 

- 

76
                 

Profit for the period

7,253 

106 

345

- 

8

- 

- 

7,712

Minority interests

184 

(26)

-

- 

5

- 

- 

163

Preference dividends

246 

- 

-

- 

-

- 

- 

246
                 

Profit attributable to ordinary shareholders

6,823 

132 

345

- 

3

- 

- 

7,303
                 


 

BALANCE SHEET AS AT 31 DECEMBER 2008

 

Pro forma

Transfers 

Shared  

assets 

Statutory
 

£m

£m 

£m 

£m

Assets

        

Cash and balances at central banks

11,830

570 

- 

12,400

Loans and advances to banks

129,408

8,698 

91 

138,197

Net loans and advances to customers

691,876

143,433 

100 

835,409

Reverse repurchase agreements and stock borrowing

39,289

24 

- 

39,313

Loans and advances to customers

731,165

143,457 

100 

874,722

Debt securities

253,098

14,390 

61 

267,549

Equity shares

22,094

4,132 

104 

26,330

Settlement balances

17,812

20 

- 

17,832

Derivatives

991,493

1,064 

2 

992,559

Intangible assets

16,386

3,634 

29 

20,049

Property, plant and equipment

17,169

1,768 

12 

18,949

Prepayments, accrued income and other assets

20,715

2,829 

858 

24,402

Deferred taxation

5,409

1,296 

377 

7,082

Assets of disposal groups

67

1,101 

413 

1,581
         
 

2,216,646

182,959 

2,047 

2,401,652

Share of shared assets

2,047

- 

(2,047)

-
         

Total assets

2,218,693

182,959 

- 

2,401,652
         
         

Liabilities 

        

Deposits by banks

261,934

(4,565)

675 

258,044

Net customer accounts

460,318

121,051 

- 

581,369

Repurchase agreements and stock lending 

58,143

- 

- 

58,143

Customer accounts

518,461

121,051 

- 

639,512

Debt securities in issue

269,188

30,831 

270 

300,289

Settlement balances and short positions

54,264

13 

- 

54,277

Derivatives

969,396

1,955 

13 

971,364

Accruals, deferred income and other liabilities

23,453

7,342 

687 

31,482

Retirement benefit liabilities

1,547

468

17

2,032

Deferred taxation 

2,930

988 

247 

4,165

Insurance liabilities

7,480

2,496 

- 

9,976

Subordinated liabilities

43,678

5,476 

- 

49,154

Liabilities of disposal groups

-

721 

138 

859
         
 

2,152,331

166,776 

2,047 

2,321,154

Share of shared assets

2,047

- 

(2,047)

-
         

Total liabilities

2,154,378

166,776 

- 

2,321,154
         

Equity:

        

Minority interests

5,436

16,183 

- 

21,619

Owners' equity

58,879

- 

- 

58,879

Total equity

64,315

16,183 

- 

80,498
         

Total liabilities and equity

2,218,693

182,959 

- 

2,401,652
         


  

BALANCE SHEET AS AT 31 DECEMBER 2007


 

Pro forma

Transfers

Shared  

assets  

Statutory
 

£m

£m

£m 

£m

Assets

        

Cash and balances at central banks

14,240

3,626

- 

17,866

Loans and advances to banks

211,000

2,599

5,861 

219,460

Net loans and advances to customers

558,075

126,711

1,395 

686,181

Reverse repurchase agreements and stock borrowing

142,116

241

- 

142,357

Loans and advances to customers

700,191

126,952

1,395 

828,538

Debt securities

240,801

35,957

17,898 

294,656

Equity shares

46,704

5,532

790 

53,026

Settlement balances

16,533

56

- 

16,589

Derivatives

275,146

741

1,515 

277,402

Intangible assets

27,610

22,198

108 

49,916

Property, plant and equipment

16,913

1,826

6 

18,745

Prepayments, accrued income and other assets

16,631

285

(1,254)

15,662

Deferred taxation

1,680

1,454

(15)

3,119

Assets of disposal groups

395

44,537

918 

45,850
         
 

1,567,844

245,763

27,222 

1,840,829

Share of shared assets

27,222

- 

(27,222)

- 
         

Total assets

1,595,066

245,763

-  

1,840,829
         
         

Liabilities 

        

Deposits by banks

303,499

5,813

2,982 

312,294

Net customer accounts

437,060

108,486

1,901 

547,447

Repurchase agreements and stock lending 

120,062

14,854

- 

134,916

Customer accounts

557,122

123,340

1,901 

682,363

Debt securities in issue

220,577

38,003

15,592 

274,172

Settlement balances and short positions

89,829

739

453 

91,021

Derivatives

270,814

369

869 

272,052

Accruals, deferred income and other liabilities

27,873

5,330

1,005

34,208

Retirement benefit liabilities

265

82

113

460

Deferred taxation 

3,728

1,471

201 

5,400

Insurance liabilities

7,650

2,512

- 

10,162

Subordinated liabilities

28,052

6,368

3,623 

38,043

Liabilities of disposal groups

6

28,739

483 

29,228
         
 

1,509,415

212,766

27,222 

1,749,403

Share of shared assets

27,222

-

(27,222)

- 
         

Total liabilities

1,536,637

212,766

-  

1,749,403
         

Equity:

        

Minority interests

5,391

32,997

- 

38,388

Owners' equity

53,038

-

- 

53,038

Total equity

58,429

32,997

-  

91,426
         

Total liabilities and equity

1,595,066

245,763

- 

1,840,829
         

 

Signatures



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Date: 26 February 2009 

  THE ROYAL BANK OF SCOTLAND GROUP plc (Registrant)


  By: /s/ A N Taylor

  Name:
Title:		 A N Taylor
Head of Group Secretariat