VANQUIS BANKING GROUP PLC DISCLOSUREOther Disclosures

Business / Consolidation

Basis of consolidation The consolidated income statement, consolidated statement of comprehensive income, consolidated statement of financial position, statement of changes in shareholders’ equity, statement of cash flows and notes to the financial statements include the financial statements of the Company and all of its subsidiary undertakings drawn up from the date control passes to the Group until the date control ceases. Control is achieved when the Group: 5 has power over the investee; 5 is exposed, or has rights, to variable returns from its involvement with the investee; and 5 has the ability to use its power to affect returns. All intra-group transactions and balances and unrealised gains on transactions between Group companies are eliminated on consolidation. The accounting policies of subsidiaries are consistent with the accounting policies of the Group. A full list of the Group’s subsidiaries is set out in note 37, together with further information on the basis on which they are considered to be controlled by the Company.