Mr. Mark Bourke:

The wider context of valuation of the bank concerns two things, one of which is how it is performing. Our big challenge as a bank is to get ourselves to the point at which we are no longer shrinking. We are just coming close to the point at which we are at a stable level of lending and have a stable asset stock, so that it the first thing that drives valuation. Coming from that, the second thing is that the bank is sustainably profitable and, therefore, internally generates capital.