29. Minority interests
| Group | ||
| 2006 £m |
2005 £m |
|
| At 1 January | 2,109 | 3,492 |
| Implementation of IAS 32 and IAS 39 on 1 January 2005 | — | (2,541) |
| Currency translation adjustments and other movements | (297) | 53 |
| Profit attributable to minority interests | 104 | 57 |
| Dividends paid | (66) | (95) |
| Unrealised gains on available-for-sale securities | 2,140 | — |
| Equity raised | 1,354 | 1,264 |
| Equity withdrawn | (81) | (121) |
| At 31 December | 5,263 | 2,109 |
Included in minority interests are the following trust preferred securities: (1)
| 2006 £m |
2005 £m |
|
| US$950 million 5.512% (redeemable September 2014) | 529 | 529 |
| US$1,000 million 3 month US$ LIBOR plus 0.80% (redeemable September 2014) | 555 | 555 |
| €500 million 4.243% (redeemable January 2016) | 337 | 337 |
| £400 million 5.6457% (issued December 2006; redeemable June 2017) | 400 | — |
| 1,821 | 1,421 |
Note:
(1) The trust preferred securities have no maturity date and are not redeemable at the option of the holders at any time. These securities may, with the consent of the UK Financial Services Authority, be redeemed, in whole or in part, by the issuer on the dates specified above or on any interest payment date thereafter. They may also be redeemed in whole, but not in part, upon the occurrence of certain tax and regulatory events. These securities are included in the company balance sheet as dated loan capital.
© 2007