Santander Uk 20FR12G/A Initial registration of securities (foreign private issuers) (amended)

Exhibit 7.1

Statement of Ratio of Earnings to Fixed Charges

(i) Excluding interest on retail deposits
	Six months to		Year ended December 31
	Jun-15		2014		2013			2012		2011		2010
	£m		£m		£m			£m		£m		£m
Profit on continuing operations before tax		928		1,399		1,109			1,152		1,282		2,125
Fixed charges: interest expense (B) (1)		598		1,291		1,549			1,774		1,067		809
Preference security dividend requirements of consolidated subsidiaries		-23		-40		-57			-57		-57		-40
Earnings before taxes and fixed charges (A)		1,503		2,650		2,601			2,869		2,292		2,894
Ratio of earnings to fixed charges (A/B)		251		205		168			162		215		358
(ii) Including interest on retail deposits
	Six months to		Year ended December 31
	Jun-15		2014		2013			2012		2011		2010
	£m		£m		£m			£m		£m		£m
Profit on continuing operations before tax		928		1,399		1,109			1,152		1,282		2,125
Fixed charges: interest expense (B) (1)		1,588		3,363		4,207			4,698		3,778		3,233
Preference security dividend requirements of consolidated subsidiaries		-23		-40		-57			-57		-57		-40
Earnings before taxes and fixed charges (A)		2,493		4,722		5,259			5,793		5,003		5,318
							��
Ratio of earnings to fixed charges (A/B)		157		140		125			123		132		164

Note:

⁽¹⁾  Includes the amortisation of discounts and premiums on debt securities in issue.