SHARE PREMIUM ACCOUNT

12 Months Ended

Dec. 31, 2019

Disclosure For Share Premium Account Explanatory [Abstract]

Disclosure for share premium account [text block]

NOTE 41: SHARE PREMIUM ACCOUNT

	2019 £m		2018 £m		2017 £m
At 1 January		17,719		17,634		17,622
Issued under employee share schemes		29		85		12
Redemption of preference shares1		3		–		–
At 31 December		17,751		17,719		17,634

1 During the year ended 31 December 2019, the Company redeemed all of its outstanding 6.3673% Non-cumulative Fixed to Floating Rate Preference Shares at their combined sterling par value of £3 million. These preference shares had been accounted for as subordinated liabilities. On redemption an amount of £3 million was transferred from the distributable merger reserve to the share premium account.