UBS Global Financial Services Conference

Retail Banking 2004 2003 Change £m £m Net interest income 3,112 2,959 +5% Non-interest income 1,630 1,514 +8% Total income 4,742 4,473 +6% Direct expenses 1,074 1,030 +4% Contribution before provisions 3,668 3,443 +7% Provisions 389 273 +42% Contribution 3,279 3,170 +3% 2003 restated following transfer of certain activities from Wealth Management Slide 21

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