Exhibit 7.1
Santander UK Group Holdings plc
Computation of Ratio of Earnings to Fixed Charges
(i) Excluding interest on retail deposits
| Year ended December 31 | ||||||||||||||||||||
| 2015 £m | 2014 £m | 2013 £m | 2012 £m | 2011 £m | ||||||||||||||||
Profit on continuing operations before tax | 1,342 | 1,399 | 1,109 | 1,152 | 1,282 | |||||||||||||||
Fixed charges: interest expense (B) (1) | 1,146 | 1,291 | 1,549 | 1,774 | 1,067 | |||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | (23 | ) | (40 | ) | (57 | ) | (57 | ) | (57 | ) | ||||||||||
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Earnings before taxes and fixed charges (A) | 2,465 | 2,650 | 2,601 | 2,869 | 2,292 | |||||||||||||||
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Ratio of earnings to fixed charges (A/B) | 215 | 205 | 168 | 162 | 215 | |||||||||||||||
(ii) Including interest on retail deposits
| Year ended December 31 | ||||||||||||||||||||
| 2015 £m | 2014 £m | 2013 £m | 2012 £m | 2011 £m | ||||||||||||||||
Profit on continuing operations before tax | 1,342 | 1,399 | 1,109 | 1,152 | 1,282 | |||||||||||||||
Fixed charges: interest expense (B) (1) | 3,120 | 3,363 | 4,207 | 4,698 | 3,778 | |||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | (23 | ) | (40 | ) | (57 | ) | (57 | ) | (57 | ) | ||||||||||
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Earnings before taxes and fixed charges (A) | 4,439 | 4,722 | 5,259 | 5,793 | 5,003 | |||||||||||||||
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Ratio of earnings to fixed charges (A/B) | 142 | 140 | 125 | 123 | 132 | |||||||||||||||
Note:
| (1) | Includes the amortisation of discounts and premiums on debt securities in issue. |
