Chief Executive’s Report
Key Performance Indicator
International division's share of underlying profit before tax (excluding Group Items)
* 2006 has been restated, as announced on 12 June 2007, to reflect the divisional reorganisation and the change in definition of underlying.
Targeted international growth
Internationally we continue to grow our businesses by taking the formula that has served us so well in the UK to other markets that we understand. In Australia, where we have been operating for over 10 years, we are expanding on our strong West Coast presence and are now establishing our Commercial and Retail banking capability in Eastern Australia. In Ireland, we are in our second full year of expansion into the provision of retail banking facilities through the now almost complete establishment of a branch network. In Europe and North America we have increased our distribution capability in our European Financial Services operations and are expanding our corporate banking activities in the US and Canada.