This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.
“Return on equity decreased from 12.4% in the first quarter last year to 7.6% in the first quarter this year, as compared to a return in equity of 9% for the full year in 2012.”
“The group’s cost-income ratio increased from 61% to 68% almost entirely due to restructuring costs.”
“Our Core Tier 1 ratio increased to 11% on a Basel 2.5 basis”
“Loan-to-deposit ratio for these businesses improved further from 102% to 98%. This has reduced our total wholesale funding requirements.”
“our outlook for impairment in our big retail businesses is where I would describe as broadly stable. As you know, in the last few years, we’ve seen an improving picture.”
“I’m grateful that we don’t have large exposures to things like commercial real estate in the U.K.”
“We have continued to see improvement in our wholesale impairment levels in Spain, in particular, and we signaled that to you previously.”