The most significant changes are as follows:
- The Group now discloses “underlying pre-tax profit”, the ratios “underlying cost/income ratio” and “underlying RoE” (pre-tax) for its segments.
- The Group now includes severance payments and minority interest in underlying pre-tax profit. These items had been excluded from the previously disclosed “Income before nonoperating costs”. In addition, the Group now includes severance payments in the “operating cost base”.
- The Group, therefore, now separately discloses goodwill impairment/amortization, restructuring activities, minority interest and severance payments in order to provide more transparency. Previously these items were combined under the definition “nonoperating costs”.
- The Group has refined some revenue components to reflect current business practice. For instance, revenues from insurance business are no longer disclosed separately, as the major part of it was sold in the second quarter of 2002.
Prior periods have been restated to conform to the current year's presentation.