Mr. Jim Brown:

I do not believe that it is doing write-offs but I will double check that to be sure. To be clear, the £15 billion or €18 billion was injected into Ulster Bank to cover the losses we had incurred. It was not to arbitrarily carry out more write-offs, write-downs or anything like that. It was to cover the losses we had incurred.

With all the restructuring we have put in place, I expect Ulster Bank will be profitable again this year, as I outlined in my opening statement. However, we have a long way to go to earn a reasonable return on the £15 billion.