Wealth Management at Royal Bank of Scotland delivered income of £1,028 million ($2,036 million) up 16 per cent in 2007. Contribution grew by 21 per cent to £558 million and operating profit by 30 per cent to £413 million. At Coutts, the UK regional expansion programme has contributed to the 7 per cent growth in customer numbers and a 22 per cent growth in income. In its annual earnings release, RBS notes that outside the UK, Coutts International has been re-branded as RBS Coutts to leverage the global brand strength of the group in the continental European and Asia-Pacific markets. In the Asia-Pacific region, customer numbers have grown by 27 per cent and income by 51 per cent in US dollar terms. Growth in banking volumes contributed to a 15 per cent rise in net interest income to £569 million. Average loans and advances to customers rose by 13 per cent and average deposits by 17 per cent. Non-interest income grew by 17 per cent to £459 million, reflecting higher investment management fees and new product sales, including new investment vehicles specialising in private equity and natural resources, as well as continued growth in underlying new business volumes, particularly in the UK and Asia. Assets under management rose to £35.1 billion at 31 December 2007, up 24 per cent from a year earlier. Total expenses rose by 7 per cent to £611 million, with direct expense up 9 per cent at £466 million, reflecting continued investment in the UK and continental Europe along with a further significant expansion of private bankers in Asia. Total headcount increased by 12 per cent in wealth management. Overall, excluding the contribution of recently acquired ABN Amro units, operating profit up 9 per cent to £10,298 million, and profit after tax up 22 per cent to £7,940 million.