Notes 41-43

41 Transactions with directors, officers and others

(a) At 31 December 2007, the amounts outstanding in relation to transactions, arrangements and agreements entered into by authorised institutions in the Group, as defined in UK legislation, were £527,021 in respect of loans to 15 persons who were directors of the company (or persons connected with them) at any time during the financial period.

(b) For the purposes of IAS 24 'Related Party Disclosures', key management comprise directors of the company and members of the Group Executive Management Committee. The captions in the Group's primary financial statements include the following amounts attributable, in aggregate, to key management:

  2007
£000		 2006
£000
Loans and advances to customers 2,023 2,188
Customer accounts 13,309 18,575

Key management have banking relationships with Group entities which are entered into in the normal course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with other persons of a similarstanding or, where applicable, with other employees. These transactions did not involve more than the normal risk of repayment orpresent other unfavourable features.

Key management had no reportable transactions or balances with the company except for dividends.

 

Return to top