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Consolidated income statement

for the year ended 31 December 2007

  Note   2007
£ million		   2006
£ million
Interest and similar income     16,874   14,108
Interest and similar expense     (10,775)   (8,779)
Net interest income 4   6,099   5,329
Fee and commission income     3,224   3,116
Fee and commission expense     (600)   (638)
Net fee and commission income 5   2,624   2,478
Net trading income 6   3,123   6,341
Insurance premium income 7   5,430   4,719
Other operating income 8   952   806
Other income     12,129   14,344
Total income     18,228   19,673
Insurance claims 9   (7,522)   (8,569)
Total income, net of insurance claims     10,706   11,104
Operating expenses 10   (5,567)   (5,301)
Trading surplus     5,139   5,803
Impairment 11   (1,796)   (1,555)
Profit on sale of businesses 12   657   –
Profit before tax     4,000   4,248
Taxation 13   (679)   (1,341)
Profit for the year     3,321   2,907
Profit attributable to minority interests     32   104
Profit attributable to equity shareholders     3,289   2,803
Profit for the year     3,321   2,907
Basic earnings per share 14   58.3p   49.9p
Diluted earnings per share 14   57.9p   49.5p

The accompanying notes are an integral part of the consolidated financial statements.