Exhibit 1

Capitalisation

The following table shows the Group’s capitalisation and indebtedness on a consolidated basis in accordance with IFRS as at 31 December 2013. In accordance with IFRS, certain preference shares are classified as debt and are included in subordinated liabilities in the table below.

	31 December 2013
	(£m)
Capitalisation
Equity
Shareholders’ equity		38,989
Non-controlling interests		347
Total equity		39,336
Indebtedness
Subordinated liabilities		32,312
Debt securities
Debt securities in issue		87,102
Liabilities held at fair value through profit or loss (debt securities)		5,267
Total debt securities		92,369
Total indebtedness		124,681
Total capitalisation and indebtedness		164,017

Excluding indebtedness issued under government-guaranteed funding programmes, none of the indebtedness set forth above is guaranteed by persons other than members of the Group. As of 31 December 2013, all indebtedness was unsecured except for £49.3 billion of securitisation notes and covered bonds and £3.5 billion of debt securities issued by the Group’s asset-backed conduits.

Other than the redemption, on maturity, of £250 million of dated subordinated debt on 17 January 2014 and the redemption, at call date, of €261 million of undated subordinated debt on 25 February 2014, there have been no issuances or redemptions of subordinated liabilities since 31 December 2013.

There has been no material change in the information set forth in the table above since 31 December 2013.