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Key Financials

Key performance indicators
		12 months to 31 December 2007	12 months to 31 December 2006

Underlying profit before taxation*	£m	351.6	335.9
Profit before taxation	£m	126.0	246.7
Profit for the financial period	£m	93.2	177.7
Net interest margin	%	1.10	1.19
Underlying cost:income ratio*	%	42.8	44.2
Underlying basic earnings per share*	p	40.2	38.1
Basic earnings per share	p	14.9	28.2
Underlying return on equity*	%	19.1	17.4
Dividend per share	p	21.0	20.0
Indexed loan to value of book	%	55	53

Residential:
Gross Advances	£bn	14.0	10.3
Net advances	£bn	8.3	5.1
Redemptions	£bn	5.8	5.2
Redemptions (% opening book)	%	18.5	19.7

Funding mix:
Retail	%	40	43
Wholesale	%	23	25
Securitised	%	17	15
Covered bonds	%	13	9
Capital / Other	%	7	8

Asset mix:
Buy-to-let	%	45	40
Self-cert	%	16	15
Other residential	%	15	14
Commercial and housing association	%	2	11
Wholesale / Other	%	22	20

Lending balances - total		40.4	36.1
Residential	£bn	39.4	31.1
Commercial	£bn	0.9	2.7
Housing association	£bn	0.1	2.3

Retail savings balances – total		21.0	19.7
Branch based	£bn	14.4	12.8
Direct	£bn	4.2	4.0
Offshore	£bn	2.4	2.9
Customer deposits:customer loans	%	60.0	61.0

Capital structure
Tier 1	£m	1,436.9	1,545.1
Tier 1 ratio	%	8.6	7.6
Tier 2	£m	1,227.1	1,255.5
Total capital ratio	%	15.1	13.2
Risk weighted assets	£bn	16.7	20.4

Effective tax rate	%	26.0	28.0

* The Underlying basis is defined and analyses of underlying profit, costs and earnings per share are provided on page 16 of the Report & Accounts.