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Business Segments (Tables)

6 Months Ended

Jun. 30, 2012

Summary on Reconciliation of results under IFRS to US GAAP


	IFRS Consolidated Amounts
	RBWM			CMB			GBM			PB			Other			Adjustments/ Reconciling Items			Total			IFRS Adjustments⁽⁴⁾			IFRS Reclassi- fications⁽⁵⁾			U.S. GAAP Consolidated Totals
	(in millions)
Three months ended June 30, 2012:
Net interest income⁽¹⁾	$	197		$	156		$	167		$	47		$	(3	)	$	(1	)	$	563		$	(36	)	$	8		$	535
Other operating income		262			301			165			28			131			1			888			(32	)		7			863

Total operating income		459			457			332			75			128			-			1,451			(68	)		15			1,398
Loan impairment charges⁽³⁾		61			8			23			(3	)		-			-			89			7			(7	)		89

		398			449			309			78			128			-			1,362			(75	)		22			1,309
Operating expenses⁽²⁾		321			190			236			63			723			-			1,533			(4	)		22			1,551

Profit before income tax expense	$	77		$	259		$	73		$	15		$	(595	)	$	-		$	(171	)	$	(71	)	$	-		$	(242	)

Balances at end of period:
Total assets	$	25,654		$	23,221		$	219,724		$	6,860		$	92		$	-		$	275,551		$	(75,139	)	$	15		$	200,427
Total loans, net		16,312			18,080			33,386			5,081			-			-			72,859			(1,995	)		(15,419	)		55,445
Goodwill		581			357			480			326			-			-			1,744			484			-			2,228
Total deposits		36,770			21,125			42,071			12,727			-			-			112,693			(6,229	)		16,763			123,227
Three months ended June 30, 2011:
Net interest income⁽¹⁾	$	249		$	172		$	130		$	44		$	(3	)	$	(7	)	$	585		$	(88	)	$	46		$	543
Other operating income		130			106			272			34			19			7			568			(9	)		(27	)		532

Total operating income		379			278			402			78			16			-			1,153			(97	)		19			1,075
Loan impairment charges⁽³⁾		58			42			(10	)		(1	)		-			-			89			(5	)		11			95

		321			236			412			79			16			-			1,064			(92	)		8			980
Operating expenses⁽²⁾		369			200			239			65			20			-			893			(11	)		8			890

Profit before income tax expense	$	(48	)	$	36		$	173		$	14		$	(4	)	$	-		$	171		$	(81	)	$	-		$	90

Balances at end of period:
Total assets	$	28,416		$	19,954		$	187,050		$	6,282		$	92		$	-		$	241,794		$	(62,989	)	$	(182	)	$	178,623
Total loans, net		17,397			15,137			23,025			4,343			-			-			59,902			(3,105	)		(6,567	)		50,230
Goodwill		876			368			480			326			-			-			2,050			576			-			2,626
Total deposits		47,981			24,039			42,416			12,154			-			-			126,590			(3,477	)		7,542			130,655
Six months ended June 30, 2012:
Net interest income⁽¹⁾	$	444		$	322		$	310		$	92		$	(10	)	$	(7	)	$	1,151		$	(51	)	$	22		$	1,122
Other operating income		359			405			491			57			(140	)		7			1,179			36			15			1,230

Total operating income		803			727			801			149			(150	)		-			2,330			(15	)		37			2,352
Loan impairment charges⁽³⁾		102			(9	)		(8	)		(5	)		-			-			80			4			5			89

		701			736			809			154			(150	)		-			2,250			(19	)		32			2,263
Operating expenses⁽²⁾		642			375			495			121			742			-			2,375			-			32			2,407

Profit before income tax expense	$	59		$	361		$	314		$	33		$	(892	)	$	-		$	(125	)	$	(19	)	$	-		$	(144	)

Six months ended June 30, 2011:
Net interest income⁽¹⁾	$	497		$	347		$	262		$	90		$	(67	)	$	(15	)	$	1,114		$	(33	)	$	92		$	1,173
Other operating income		189			211			689			70			(17	)		15			1,157			24			(58	)		1,123

Total operating income		686			558			951			160			(84	)		-			2,271			(9	)		34			2,296
Loan impairment charges⁽³⁾		90			12			(27	)		(10	)		-			-			65			5			23			93

		596			546			978			170			(84	)		-			2,206			(14	)		11			2,203
Operating expenses⁽²⁾		819			376			465			129			37			-			1,826			(16	)		11			1,821

Profit before income tax expense	$	(223	)	$	170		$	513		$	41		$	(121	)	$	-		$	380		$	2		$	-		$	382

⁽¹⁾

Net interest income of each segment represents the difference between actual interest earned on assets and interest paid on liabilities of the segment adjusted for a funding charge or credit. Segments are charged a cost to fund assets (e.g. customer loans) and receive a funding credit for funds provided (e.g. customer deposits) based on equivalent market rates. The objective of these charges/credits is to transfer interest rate risk from the segments to one centralized unit in Treasury and more appropriately reflect the profitability of segments.

⁽²⁾	Expenses for the segments include fully apportioned corporate overhead expenses.

⁽³⁾	The provision assigned to the segments is based on the segments’ net charge offs and the change in allowance for credit losses.

⁽⁴⁾	Represents adjustments associated with differences between IFRSs and U.S. GAAP basis of accounting.

⁽⁵⁾	Represents differences in financial statement presentation between IFRSs and U.S. GAAP.