Exhibit 7.1

Computation of Ratio of Earnings to Fixed Charges



|(i) | Excluding interest on retail deposits
|--- | -------------------------------------



|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 
|---------------------------------------------------------------------- |  | ---------------------- | ----- | - | ------ |  | ----- | ------ |  |  | ------ |  |  | ------ | ----- |  |  |  | ----- | 
|                                                                       |  | Year ended December 31 |      
|                                                                       |  | 2017£m                 |       |   | 2016£m |  |       | 2015£m |  |  | 2014£m |  |  | 2013£m |      
|Profit on continuing operations before tax                             |  |                        | 1,817 |   |        |  | 1,917 |        |  |  | 1,345  |  |  |        | 1,399 |  |  |  | 1,109 | 
|Fixed charges: interest expense (B)
(1)                                |  |                        | 772   |   |        |  | 994   |        |  |  | 1,141  |  |  |        | 1,291 |  |  |  | 1,549 | 
|Preference security dividend requirements of consolidated subsidiaries |  |                        | (19   | ) |        |  | (12   | )      |  |  |       |  |  |        |      |  |  |  |      | 
|Earnings before taxes and fixed charges (A)                            |  |                        | 2,570 |   |        |  | 2,899 |        |  |  | 2,486  |  |  |        | 2,690 |  |  |  | 2,658 | 
|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 
|Ratio of earnings to fixed charges (A/B)                               |  |                        | 333   |   |        |  | 292   |        |  |  | 218    |  |  |        | 208   |  |  |  | 172   | 
|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 



|(ii) | Including interest on retail deposits
|---- | -------------------------------------



|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 
|---------------------------------------------------------------------- |  | ---------------------- | ----- | - | ------ |  | ----- | ------ |  |  | ------ |  |  | ------ | ----- |  |  |  | ----- | 
|                                                                       |  | Year ended December 31 |      
|                                                                       |  | 2017£m                 |       |   | 2016£m |  |       | 2015£m |  |  | 2014£m |  |  | 2013£m |      
|Profit on continuing operations before tax                             |  |                        | 1,817 |   |        |  | 1,917 |        |  |  | 1,345  |  |  |        | 1,399 |  |  |  | 1,109 | 
|Fixed charges: interest expense (B) (1)                                |  |                        | 2,102 |   |        |  | 2,885 |        |  |  | 3,120  |  |  |        | 3,363 |  |  |  | 4,207 | 
|Preference security dividend requirements of consolidated subsidiaries |  |                        | (19   | ) |        |  | (12   | )      |  |  |       |  |  |        |      |  |  |  |      | 
|Earnings before taxes and fixed charges (A)                            |  |                        | 3,900 |   |        |  | 4,790 |        |  |  | 4,465  |  |  |        | 4,762 |  |  |  | 5,316 | 
|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 
|Ratio of earnings to fixed charges (A/B)                               |  |                        | 186   |   |        |  | 166   |        |  |  | 143    |  |  |        | 142   |  |  |  | 126   | 
|                                                                       |  |                        |       |   |        |  |       |        |  |  |        |  |  |        |       |  |  |  |       | 

Note



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