Ms Francesca McDonagh:

I do not have an internal or external target figure for headcount reduction. However, I have said we are likely to have fewer people in the organisation than we currently have despite growing our business in the future. I think every European bank would normally say that because there is an increased move towards efficiency and digitisation and customer behaviour is changing. We will do that in a way that is proactive and constructive and we will work with our people to reduce headcount. As for examples of headcount reduction initiatives that we have taken, the difficult ones are to not necessarily backfill every vacancy. That is an example that has enabled us to reduce some of our headcount costs already.