Exhibit 7.1
Santander UK plc
Computation of Ratio of Earnings to Fixed Charges
(i) Excluding interest on retail deposits
| Six months ended | Year ended December 31 | |||||||||||||||||||
| 2016 £m | 2015 £m | 2014 £m | 2013 £m | 2012 £m | ||||||||||||||||
Profit on continuing operations before tax | 1,079 | 1,345 | 1,399 | 1,109 | 1,152 | |||||||||||||||
Fixed charges: interest expense (B)(1) | 526 | 1,141 | 1,291 | 1,549 | 1,774 | |||||||||||||||
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Earnings before taxes and fixed charges (A) | 1,605 | 2,486 | 2,690 | 2,658 | 2,926 | |||||||||||||||
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Ratio of earnings to fixed charges (A/B) | 305 | 218 | 208 | 172 | 165 | |||||||||||||||
(ii) Including interest on retail deposits
| Six months ended | Year ended December 31 | |||||||||||||||||||
| 2016 £m | 2015 £m | 2014 £m | 2013 £m | 2012 £m | ||||||||||||||||
Profit on continuing operations before tax | 1,079 | 1,345 | 1,399 | 1,109 | 1,152 | |||||||||||||||
Fixed charges: interest expense (B)(1) | 1,528 | 3,120 | 3,363 | 4,207 | 4,698 | |||||||||||||||
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Earnings before taxes and fixed charges (A) | 2,607 | 4,465 | 4,762 | 5,316 | 5,850 | |||||||||||||||
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Ratio of earnings to fixed charges (A/B) | 171 | 143 | 142 | 126 | 125 | |||||||||||||||
Note
| (1) | Includes the amortisation of discounts and premiums on debt securities in issue. |
