The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Martin Leitgeb - Goldman Sachs Group, Inc., Research Division - Analyst
: Could I just go back to the -- just to the comments on NII and NIM outlook from here. It seems like the guidance at least on an underlying basis,
excluding the one-off effect in 3Q are guiding for stabilization in margin with the, I guess, loan growth advice as that will (inaudible) high expansion
from here. If there was a scenario say that next year, we will get a hike in U.S. dollar, could you help us understand how quickly that impact of the
hike feed through in terms of your P&L?
Secondly, I'm not wanting to front run the capital comments for the full year. But I was just wondering, previously, the guidance was that Stan
would like to operate well within the 13 to 14 target capital range. Now the expectation is for ending the year at the upper end. Should we expect
Stan again to fall well within this range within a relatively short period thereafter?
And thirdly, I was just wondering if there's any comments with regards to potential Citibank asset sales.
Question: Thomas Andrew John Rayner - Numis Securities Limited, Research Division - Analyst
: Could you confirm the size of the gain that was in aviation finance, please? And is that linked to the $35 million other impairment you took on that
lease portfolio?
And then also on revenue, did I hear you say, Andy, that the FX adjustment is closer to 200 now? So does that imply the benchmark revenue for
2020 is about $14,965,000, call it, $15 billion. Is that the benchmark that you're looking to sort of drive your 2021 similar revenue level from?
And then just finally on inflation. Has there been any change to what you perceive to be inflation in terms of your cost target beyond this year,
given what's happening across the world in terms of inflationary pressures?
Question: Thomas Andrew John Rayner - Numis Securities Limited, Research Division - Analyst
: Okay. And just on the aviation thing still, the other impairment of $35 million. I'm just trying to understand what you've done in the quarter. You've
sold some aircraft. You've had to take an impairment through the other impairment line and you book to gain. Is that all part of your restructuring
of that portfolio? I'm just trying to understand what exactly has happened there?
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