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Non-interest income (Tables)

12 Months Ended

Dec. 31, 2023

Non-interest income

Schedule of non-interest income

​

​	​	​	​	​	​	​
​		2023		2022		2021 (1)
Continuing operations	​	£m	​	£m	​	£m
Net fees and commissions (2)		2,330		2,292		2,120
Trading income	​	​	​	​	​	​
Foreign exchange		270	​	305	​	364
Interest rate (3)		595	​	752	​	(130)
Credit		(72)	​	17	​	83
Changes in fair value of own debt and derivative liabilities attributable to own credit risk	​	​	​	​	​	​
- debt securities in issue		(2)	​	42	​	6
Equities, commodities and other		3	​	17	​	—
​		794	​	1,133	​	323
Other operating income	​	​	​	​	​	​
Gain/(loss) on redemption of own debt	​	3	​	(161)	​	(145)
Rental income on operating lease assets and investment property		234		230		225
Changes in fair value of financial assets and liabilities designated at fair value through profit or loss (4)	​	(150)	​	17	​	(8)
Changes in fair value of other financial assets at fair value through profit or loss (5)	​	50	​	(45)	​	5
Hedge ineffectiveness		52		(20)		25
Loss on disposal of amortised cost assets and liabilities		(5)		(15)		(15)
(Loss)/profit on disposal of fair value through other comprehensive income assets		(43)		(168)		117
Loss on sale of property, plant and equipment		(21)		(5)		(30)
Share of (losses)/profits of associated entities		(9)		(30)		216
Profit on disposal of subsidiaries and associates	​	—	​	—	​	48
Foreign exchange recycling gains/(losses)	​	484	​	5	​	(10)
Other income (6)		(16)		81		23
​	​	579	​	(111)	​	451
​	​	3,703	​	3,314	​	2,894

​

(1) Comparative results have been re-presented from those previously published to reclassify certain items as discontinued operations as described in Note 8 to the consolidated financial statements.

(2) Refer to Note 4 for further analysis.

(3) Includes fair value changes on derivatives which have not been designated in a hedge accounting relationship and gains and losses from the management of the NatWest Group’s funding requirements involving the use of derivatives including foreign exchange. These are aimed at managing the interest rate and foreign exchange risk that NatWest Group is exposed to.

(4) Includes related derivatives.

(5) Includes instruments that have failed solely payments of principal and interest testing under IFRS 9.

(6) 2022 includes £92 million profit from insurance liabilities.

X

- Definition

The disclosure of other operating income. [Refer: Other operating income (expense)]

+ References

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-URIDate 2023-03-23

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- Definition

n/a.

+ References

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