Download table as excel file| 2007 | 2006 | 2005 | ||||||||||||
| £m | £m | £m | ||||||||||||
| Rates related business | 4,162 | 2,848 | 1,732 | |||||||||||
| Credit related business | (403) | 766 | 589 | |||||||||||
| Net trading income | 3,759 | 3,614 | 2,321 | |||||||||||
| Net gain from disposal of available for sale assets | 560 | 307 | 120 | |||||||||||
| Dividend income | 26 | 15 | 22 | |||||||||||
| Net gain from financial instruments designated at fair value | 293 | 447 | 389 | |||||||||||
| Other investment income | 337 | 193 | 327 | |||||||||||
| Net investment income | 1,216 | 962 | 858 | |||||||||||
| Principal transactions | 4,975 | 4,576 | 3,179 | |||||||||||
Net trading income includes the profits and losses arising both on the purchase and sale of trading instruments and from the revaluation to market value, together with the interest income and expense from these instruments and the related funding cost.
Of the total net trading income, a £756m loss (2006: £947m gain, 2005: £498m gain) was made on securities and £640m gain (2006: £480m, 2005: £340m) was earned in foreign exchange dealings.
The net gain on financial assets designated at fair value included within principal transactions was £78m (2006: £489m, 2005: £391m) of which losses of £215m (2006: £42m gain, 2005: £2m gain) were included in net trading income and gains of £293m (2006: £447m, 2005: £389m) were included in net investment income.
The net loss on financial liabilities designated at fair value included within principal transactions was £231m (2006: £920m, 2005: £666m) all of which was included within net trading income.
The net gain from widening of credit spreads relating to Barclays Capital issued notes held at fair value was £658m (2006: £nil, 2005: £nil).