Tesco plc Annual Report and Financial Statements 2012

OVERVIEW
Note 17 Loans and advances to customers
Tesco Bank has loans and advances to customers.
STRATEGIC REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
Non-current 1,901 2,127
Current 2,502 2,514
4,403 4,641
The maturity of these loans and advances is as follows:
At 25 February 2012
Repayable on demand or at short notice 1 1
Within three months 2,557 2,572
Greater than three months but less than one year 46 47
Greater than one year but less than five years 1,396 1,700
After five years 588 503
4,588 4,823
Provision for impairment of loans and advances (185) (182)
4,403 4,641
At 25 February 2012, £1.2bn of the credit card portfolio had its legal interest assigned to a special purpose entity for use as collateral in securitisation
transactions (2011: £1.4bn). As a result of the early repayment in May 2011, there are no securitisation notes in issue as at 25 February 2012 (2011: £1.2bn).
Provision for impairment of loans and advances
£m
At 27 February 2010 (314)
Charge for the year (131)
Amounts written off 268
Recoveries of amounts previously written off (9)
Unwind of discount 4
At 26 February 2011 (182)
Charge for the year (119)
Amounts written off 120
Recoveries of amounts previously written off (8)
Unwind of discount 4
At 25 February 2012 (185)
2012
£m
2012
£m
2011
£m
2011
£m
Tesco PLC Annual Report and Financial Statements 2012 119