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Consolidated income statement

for the year ended 31 December 2006

	Note	2006 £m	2005 £m	2004 £m
Interest receivable		24,688	21,331	16,632
Interest payable		(14,092)	(11,413)	(7,561)
Net interest income		10,596	9,918	9,071
Fees and commissions receivable		7,116	6,750	6,473
Fees and commissions payable		(1,922)	(1,841)	(1,926)
Income from trading activities	1	2,675	2,343	1,988
Other operating income (excluding insurance premium income)		3,564	2,953	2,138
Insurance premium income		6,243	6,076	6,146
Reinsurers’ share		(270)	(297)	(499)
Non-interest income		17,406	15,984	14,320
Total income		28,002	25,902	23,391
Staff costs		6,723	5,992	5,188
Premises and equipment		1,421	1,313	1,177
Other administrative expenses		2,658	2,816	2,323
Depreciation and amortisation		1,678	1,825	1,674
Operating expenses	2	12,480	11,946	10,362
Profit before other operating charges and impairment losses		15,522	13,956	13,029
Insurance claims		4,550	4,413	4,565
Reinsurers’ share		(92)	(100)	(305)
Impairment losses	16	1,878	1,707	1,485
Operating profit before tax		9,186	7,936	7,284
Tax	5	2,689	2,378	1,995
Profit for the year		6,497	5,558	5,289

Profit attributable to:
Minority interests		104	57	177
Preference shareholders	6	191	109	256
Ordinary shareholders		6,202	5,392	4,856
		6,497	5,558	5,289
Per 25p ordinary share:
Basic earnings	9	194.7p	169.4p	157.4p
Diluted earnings	9	193.2p	168.3p	155.9p
Dividends	7	77.3p	60.6p	52.5p