|
|
Page
|
Condensed consolidated half-year financial statements
(unaudited)
|
|
|
Consolidated income statement
|
86
|
|
Consolidated statement of comprehensive income
|
87
|
|
Consolidated balance sheet
|
88
|
|
Consolidated statement of changes in equity
|
90
|
|
Consolidated cash flow statement
|
93
|
|
|
|
|
Notes
|
|
|
1
|
Accounting policies
|
94
|
2
|
Critical accounting judgements and estimates
|
95
|
3
|
Segmental analysis
|
105
|
4
|
Net fee and commission income
|
107
|
5
|
Insurance claims
|
108
|
6
|
Operating expenses
|
108
|
7
|
Impairment
|
109
|
8
|
Tax expense
|
111
|
9
|
Earnings per share
|
112
|
10
|
Financial assets at fair value through profit or loss
|
112
|
11
|
Derivative financial instruments
|
113
|
12
|
Financial assets at amortised cost
|
114
|
13
|
Debt securities in issue
|
121
|
14
|
Retirement benefit obligations
|
122 |
15
|
Other provisions
|
123
|
16
|
Contingent liabilities, commitments and guarantees
|
126
|
17
|
Fair values of financial assets and liabilities
|
129
|
18
|
Credit quality of loans and advances to banks and customers
|
138
|
19
|
Dividends on ordinary shares
|
142
|
20
|
Future accounting developments
|
143
|
21
|
Other information
|
143
|
|
|
|
Half-year
to 30 June
2021
|
|
|
Half-year
to 30 June
2020
|
|
|
Half-year
to 31 Dec
2020
|
|
|||
|
Note
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|||
Interest income
|
|
|
6,544
|
|
|
|
7,574
|
|
|
|
6,732
|
|
|
Interest expense
|
|
|
(2,171)
|
|
|
|
(1,018)
|
|
|
|
(2,539)
|
|
|
Net interest income
|
|
|
4,373
|
|
|
|
6,556
|
|
|
|
4,193
|
|
|
Fee and commission income
|
|
|
1,294
|
|
|
|
1,121
|
|
|
|
1,187
|
|
|
Fee and commission expense
|
|
|
(601)
|
|
|
|
(558)
|
|
|
|
(590)
|
|
|
Net fee and commission income
|
4
|
|
693
|
|
|
|
563
|
|
|
|
597
|
|
|
Net trading income
|
|
|
9,515
|
|
|
|
(5,211)
|
|
|
|
12,431
|
|
|
Insurance premium income
|
|
|
4,249
|
|
|
|
4,244
|
|
|
|
4,371
|
|
|
Other operating income
|
|
|
738
|
|
|
|
720
|
|
|
|
703
|
|
|
Other income
|
|
|
15,195
|
|
|
|
316
|
|
|
|
18,102
|
|
|
Total income
|
|
|
19,568
|
|
|
|
6,872
|
|
|
|
22,295
|
|
|
Insurance claims
|
5
|
|
(11,489)
|
|
|
|
1,023
|
|
|
|
(15,064)
|
|
|
Total income, net of insurance claims
|
|
|
8,079
|
|
|
|
7,895
|
|
|
|
7,231
|
|
|
Operating expenses
|
6
|
|
(4,897)
|
|
|
|
(4,668)
|
|
|
|
(5,077)
|
|
|
Impairment
|
7
|
|
723
|
|
|
|
(3,829)
|
|
|
|
(326)
|
|
|
Profit (loss) before tax
|
|
|
3,905
|
|
|
|
(602)
|
|
|
|
1,828
|
|
|
Tax (expense) credit
|
8
|
|
(40)
|
|
|
|
621
|
|
|
|
(460)
|
|
|
Profit for the period
|
|
|
3,865
|
|
|
|
19
|
|
|
|
1,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Profit (loss) attributable to ordinary shareholders
|
|
|
3,611
|
|
|
|
(234)
|
|
|
|
1,099
|
|
|
Profit attributable to other equity holders
|
|
|
213
|
|
|
|
234
|
|
|
|
219
|
|
|
Profit attributable to equity holders
|
|
|
3,824
|
|
|
|
—
|
|
|
|
1,318
|
|
|
Profit attributable to non-controlling interests
|
|
|
41
|
|
|
|
19
|
|
|
|
50
|
|
|
Profit for the period
|
|
|
3,865
|
|
|
|
19
|
|
|
|
1,368
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Basic earnings (loss) per share
|
9
|
|
5.1p
|
|
|
(0.3p)
|
|
|
1.5p
|
|
|||
Diluted earnings (loss) per share
|
9
|
|
5.0p
|
|
|
(0.3p)
|
|
|
1.5p
|
|
|
Half-year
to 30 June
2021
|
|
|
Half-year
to 30 June
2020
|
|
|
Half-year
to 31 Dec
2020
|
|
|||
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||
|
|
|
|
|
|
|
|
|
|||
Profit for the period
|
3,865
|
|
|
|
19
|
|
|
|
1,368
|
|
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
|||
Items that will not subsequently be reclassified to profit or
loss:
|
|
|
|
|
|
|
|
|
|||
Post-retirement defined benefit scheme remeasurements:
|
|
|
|
|
|
|
|
|
|||
Remeasurements
before tax
|
604
|
|
|
|
668
|
|
|
|
(530)
|
|
|
Tax
|
(323)
|
|
|
|
(154)
|
|
|
|
129
|
|
|
|
281
|
|
|
|
514
|
|
|
|
(401)
|
|
|
Movements in revaluation reserve in respect of equity shares held
at fair value through other comprehensive income:
|
|
|
|
|
|
|
|
|
|||
Change
in fair value
|
40
|
|
|
|
(62)
|
|
|
|
12
|
|
|
Tax
|
1
|
|
|
|
—
|
|
|
|
(16)
|
|
|
|
41
|
|
|
|
(62)
|
|
|
|
(4)
|
|
|
Gains and losses attributable to own credit risk:
|
|
|
|
|
|
|
|
|
|||
Losses
before tax
|
(48)
|
|
|
|
(3)
|
|
|
|
(72)
|
|
|
Tax
|
22
|
|
|
|
1
|
|
|
|
19
|
|
|
|
(26)
|
|
|
|
(2)
|
|
|
|
(53)
|
|
|
Items that may subsequently be reclassified to profit or
loss:
|
|
|
|
|
|
|
|
|
|||
Movements in revaluation reserve in respect of debt securities held
at fair value through other comprehensive income:
|
|
|
|
|
|
|
|
|
|||
Change
in fair value
|
36
|
|
|
|
(21)
|
|
|
|
67
|
|
|
Income
statement transfers in respect of disposals
|
(15)
|
|
|
|
(137)
|
|
|
|
(12)
|
|
|
Income
statement transfers in respect of impairment
|
(2)
|
|
|
|
6
|
|
|
|
(1)
|
|
|
Tax
|
7
|
|
|
|
43
|
|
|
|
31
|
|
|
|
26
|
|
|
|
(109)
|
|
|
|
85
|
|
|
Movements in cash flow hedging reserve:
|
|
|
|
|
|
|
|
|
|||
Effective
portion of changes in fair value taken to other comprehensive
income
|
(1,153)
|
|
|
|
890
|
|
|
|
(160)
|
|
|
Net
income statement transfers
|
(296)
|
|
|
|
(223)
|
|
|
|
(273)
|
|
|
Tax
|
372
|
|
|
|
(209)
|
|
|
|
100
|
|
|
|
(1,077)
|
|
|
|
458
|
|
|
|
(333)
|
|
|
Movements in foreign currency translation reserve:
|
|
|
|
|
|
|
|
|
|||
Currency
translation differences (tax: £nil)
|
(23)
|
|
|
|
28
|
|
|
|
(24)
|
|
|
Transfers to income
statement (tax: £nil)
|
—
|
|
|
|
—
|
|
|
|
13
|
|
|
|
(23)
|
|
|
|
28
|
|
|
|
(11)
|
|
|
Other comprehensive income for the period, net of tax
|
(778)
|
|
|
|
827
|
|
|
|
(717)
|
|
|
Total comprehensive income for the period
|
3,087
|
|
|
|
846
|
|
|
|
651
|
|
|
|
|
|
|
|
|
|
|
|
|||
Total comprehensive income attributable to ordinary
shareholders
|
2,833
|
|
|
|
593
|
|
|
|
382
|
|
|
Total comprehensive income attributable to other equity
holders
|
213
|
|
|
|
234
|
|
|
|
219
|
|
|
Total comprehensive income attributable to equity
holders
|
3,046
|
|
|
|
827
|
|
|
|
601
|
|
|
Total comprehensive income attributable to non-controlling
interests
|
41
|
|
|
|
19
|
|
|
|
50
|
|
|
Total comprehensive income for the period
|
3,087
|
|
|
|
846
|
|
|
|
651
|
|
|
|
|
|
At
30 June
2021
|
|
|
At
31
Dec
2020
|
|
||
|
|
|
(unaudited)
|
|
|
(audited)
|
|
||
|
Note
|
|
£m
|
|
|
£m
|
|
||
|
|
|
|
|
|
|
|
||
Assets
|
|
|
|
|
|
|
|
||
Cash and balances at central banks
|
|
|
78,966
|
|
|
|
73,257
|
|
|
Items in the course of collection from banks
|
|
|
163
|
|
|
|
299
|
|
|
Financial assets at fair value through profit or loss
|
10
|
|
177,589
|
|
|
|
171,626
|
|
|
Derivative financial instruments
|
11
|
|
22,193
|
|
|
|
29,613
|
|
|
Loans
and advances to banks
|
|
|
10,811
|
|
|
|
10,746
|
|
|
Loans
and advances to customers
|
|
|
500,356
|
|
|
|
498,843
|
|
|
Debt
securities
|
|
|
5,008
|
|
|
|
5,405
|
|
|
Financial assets at amortised cost
|
12
|
|
516,175
|
|
|
|
514,994
|
|
|
Financial assets at fair value through other comprehensive
income
|
|
|
26,213
|
|
|
|
27,603
|
|
|
Investments in joint ventures and associates
|
|
|
313
|
|
|
|
296
|
|
|
Goodwill
|
|
|
2,320
|
|
|
|
2,320
|
|
|
Value of in-force business
|
|
|
5,727
|
|
|
|
5,617
|
|
|
Other intangible assets
|
|
|
4,299
|
|
|
|
4,140
|
|
|
Property, plant and equipment
|
|
|
11,518
|
|
|
|
11,754
|
|
|
Current tax recoverable
|
|
|
792
|
|
|
|
660
|
|
|
Deferred tax assets
|
|
|
3,346
|
|
|
|
2,741
|
|
|
Retirement benefit assets
|
14
|
|
3,134
|
|
|
|
1,714
|
|
|
Assets arising from contracts held with reinsurers
|
|
|
19,922
|
|
|
|
20,385
|
|
|
Other assets
|
|
|
7,017
|
|
|
|
4,250
|
|
|
Total assets
|
|
|
879,687
|
|
|
|
871,269
|
|
|
|
|
|
At
30 June
2021
|
|
|
At
31
Dec
2020
|
|
||
|
|
|
(unaudited)
|
|
|
(audited)
|
|
||
Equity and liabilities
|
Note
|
|
£m
|
|
|
£m
|
|
||
|
|
|
|
|
|
|
|
||
Liabilities
|
|
|
|
|
|
|
|
||
Deposits from banks
|
|
|
20,655
|
|
|
|
31,465
|
|
|
Customer deposits
|
|
|
482,349
|
|
|
|
460,068
|
|
|
Items in course of transmission to banks
|
|
|
325
|
|
|
|
306
|
|
|
Financial liabilities at fair value through profit or
loss
|
|
|
21,054
|
|
|
|
22,646
|
|
|
Derivative financial instruments
|
11
|
|
17,951
|
|
|
|
27,313
|
|
|
Notes in circulation
|
|
|
1,368
|
|
|
|
1,305
|
|
|
Debt securities in issue
|
13
|
|
81,268
|
|
|
|
87,397
|
|
|
Liabilities arising from insurance contracts and participating
investment contracts
|
|
120,368
|
|
|
|
116,060
|
|
|
|
Liabilities arising from non-participating investment
contracts
|
|
|
42,031
|
|
|
|
38,452
|
|
|
Other liabilities
|
|
|
24,871
|
|
|
|
20,347
|
|
|
Retirement benefit obligations
|
14
|
|
234
|
|
|
|
245
|
|
|
Current tax liabilities
|
|
|
—
|
|
|
|
31
|
|
|
Deferred tax liabilities
|
|
|
42
|
|
|
|
45
|
|
|
Other provisions
|
15
|
|
1,758
|
|
|
|
1,915
|
|
|
Subordinated liabilities
|
|
|
13,527
|
|
|
|
14,261
|
|
|
Total liabilities
|
|
|
827,801
|
|
|
|
821,856
|
|
|
|
|
|
|
|
|
|
|
||
Equity
|
|
|
|
|
|
|
|
||
Share capital
|
|
|
7,097
|
|
|
|
7,084
|
|
|
Share premium account
|
|
|
17,872
|
|
|
|
17,863
|
|
|
Other reserves
|
|
|
12,713
|
|
|
|
13,747
|
|
|
Retained profits
|
|
|
8,079
|
|
|
|
4,584
|
|
|
Ordinary shareholders’ equity
|
|
|
45,761
|
|
|
|
43,278
|
|
|
Other equity instruments
|
|
|
5,906
|
|
|
|
5,906
|
|
|
Total equity excluding non-controlling interests
|
|
|
51,667
|
|
|
|
49,184
|
|
|
Non-controlling interests
|
|
|
219
|
|
|
|
229
|
|
|
Total equity
|
|
|
51,886
|
|
|
|
49,413
|
|
|
Total equity and liabilities
|
|
|
879,687
|
|
|
|
871,269
|
|
|
|
Attributable to ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Share
capital and
premium
|
|
|
Other
reserves
|
|
|
Retained
profits
|
|
|
Total
|
|
|
Other
equity
instruments
|
|
|
Non-
controlling
interests
|
|
|
Total
|
|
|||||||
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
At 1 January 2021
|
24,947
|
|
|
|
13,747
|
|
|
|
4,584
|
|
|
|
43,278
|
|
|
|
5,906
|
|
|
|
229
|
|
|
|
49,413
|
|
|
Comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Profit for the period
|
—
|
|
|
|
—
|
|
|
|
3,611
|
|
|
|
3,611
|
|
|
|
213
|
|
|
|
41
|
|
|
|
3,865
|
|
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Post-retirement defined benefit scheme remeasurements, net of
tax
|
—
|
|
|
|
—
|
|
|
|
281
|
|
|
|
281
|
|
|
|
—
|
|
|
|
—
|
|
|
|
281
|
|
|
Movements in revaluation reserve in respect of financial assets
held at fair value through other comprehensive income, net of
tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Debt
securities
|
—
|
|
|
|
26
|
|
|
|
—
|
|
|
|
26
|
|
|
|
—
|
|
|
|
—
|
|
|
|
26
|
|
|
Equity
shares
|
—
|
|
|
|
41
|
|
|
|
—
|
|
|
|
41
|
|
|
|
—
|
|
|
|
—
|
|
|
|
41
|
|
|
Gains and losses attributable to own credit risk, net of
tax
|
—
|
|
|
|
—
|
|
|
|
(26)
|
|
|
|
(26)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(26)
|
|
|
Movements in cash flow hedging reserve, net of tax
|
—
|
|
|
|
(1,077)
|
|
|
|
—
|
|
|
|
(1,077)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(1,077)
|
|
|
Movements in foreign currency translation reserve, net of
tax
|
—
|
|
|
|
(23)
|
|
|
|
—
|
|
|
|
(23)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(23)
|
|
|
Total other comprehensive income
|
—
|
|
|
|
(1,033)
|
|
|
|
255
|
|
|
|
(778)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(778)
|
|
|
Total comprehensive income1
|
—
|
|
|
|
(1,033)
|
|
|
|
3,866
|
|
|
|
2,833
|
|
|
|
213
|
|
|
|
41
|
|
|
|
3,087
|
|
|
Transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Dividends
|
—
|
|
|
|
—
|
|
|
|
(404)
|
|
|
|
(404)
|
|
|
|
—
|
|
|
|
(51)
|
|
|
|
(455)
|
|
|
Distributions on other equity instruments
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(213)
|
|
|
|
—
|
|
|
|
(213)
|
|
|
Issue of ordinary shares
|
22
|
|
|
|
—
|
|
|
|
—
|
|
|
|
22
|
|
|
|
—
|
|
|
|
—
|
|
|
|
22
|
|
|
Movement in treasury shares
|
—
|
|
|
|
—
|
|
|
|
(54)
|
|
|
|
(54)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(54)
|
|
|
Value of employee services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Share
option schemes
|
—
|
|
|
|
—
|
|
|
|
27
|
|
|
|
27
|
|
|
|
—
|
|
|
|
—
|
|
|
|
27
|
|
|
Other
employee award schemes
|
—
|
|
|
|
—
|
|
|
|
59
|
|
|
|
59
|
|
|
|
—
|
|
|
|
—
|
|
|
|
59
|
|
|
Changes in non-controlling interests
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Total transactions with owners
|
22
|
|
|
|
—
|
|
|
|
(372)
|
|
|
|
(350)
|
|
|
|
(213)
|
|
|
|
(51)
|
|
|
|
(614)
|
|
|
Realised gains and losses on equity shares held at fair value
through other comprehensive income
|
—
|
|
|
|
(1)
|
|
|
|
1
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
At 30 June 20212
|
24,969
|
|
|
|
12,713
|
|
|
|
8,079
|
|
|
|
45,761
|
|
|
|
5,906
|
|
|
|
219
|
|
|
|
51,886
|
|
|
|
Attributable to ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Share
capital and
premium
|
|
|
Other
reserves
|
|
|
Retained
profits
|
|
|
Total
|
|
|
Other
equity
instruments
|
|
|
Non-
controlling
interests
|
|
|
Total
|
|
|||||||
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
At 1 January 2020
|
24,756
|
|
|
|
13,695
|
|
|
|
3,246
|
|
|
|
41,697
|
|
|
|
5,906
|
|
|
|
203
|
|
|
|
47,806
|
|
|
Comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(Loss) profit for the period
|
—
|
|
|
|
—
|
|
|
|
(234)
|
|
|
|
(234)
|
|
|
|
234
|
|
|
|
19
|
|
|
|
19
|
|
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Post-retirement defined benefit scheme remeasurements, net of
tax
|
—
|
|
|
|
—
|
|
|
|
514
|
|
|
|
514
|
|
|
|
—
|
|
|
|
—
|
|
|
|
514
|
|
|
Movements in revaluation reserve in respect of financial assets
held at fair value through other comprehensive income, net of
tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Debt
securities
|
—
|
|
|
|
(109)
|
|
|
|
—
|
|
|
|
(109)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(109)
|
|
|
Equity
shares
|
—
|
|
|
|
(62)
|
|
|
|
—
|
|
|
|
(62)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(62)
|
|
|
Gains and losses attributable to own credit risk, net of
tax
|
—
|
|
|
|
—
|
|
|
|
(2)
|
|
|
|
(2)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2)
|
|
|
Movements in cash flow hedging reserve, net of tax
|
—
|
|
|
|
458
|
|
|
|
—
|
|
|
|
458
|
|
|
|
—
|
|
|
|
—
|
|
|
|
458
|
|
|
Movements in foreign currency translation reserve, net of
tax
|
—
|
|
|
|
28
|
|
|
|
—
|
|
|
|
28
|
|
|
|
—
|
|
|
|
—
|
|
|
|
28
|
|
|
Total other comprehensive income
|
—
|
|
|
|
315
|
|
|
|
512
|
|
|
|
827
|
|
|
|
—
|
|
|
|
—
|
|
|
|
827
|
|
|
Total
comprehensive income1
|
—
|
|
|
|
315
|
|
|
|
278
|
|
|
|
593
|
|
|
|
234
|
|
|
|
19
|
|
|
|
846
|
|
|
Transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Dividends
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Distributions on other equity instruments
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(234)
|
|
|
|
—
|
|
|
|
(234)
|
|
|
Issue of ordinary shares
|
176
|
|
|
|
—
|
|
|
|
—
|
|
|
|
176
|
|
|
|
—
|
|
|
|
—
|
|
|
|
176
|
|
|
Movement in treasury shares
|
—
|
|
|
|
—
|
|
|
|
221
|
|
|
|
221
|
|
|
|
—
|
|
|
|
—
|
|
|
|
221
|
|
|
Value of employee services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Share
option schemes
|
—
|
|
|
|
—
|
|
|
|
12
|
|
|
|
12
|
|
|
|
—
|
|
|
|
—
|
|
|
|
12
|
|
|
Other
employee award schemes
|
—
|
|
|
|
—
|
|
|
|
35
|
|
|
|
35
|
|
|
|
—
|
|
|
|
—
|
|
|
|
35
|
|
|
Changes in non-controlling interests
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Total transactions with owners
|
176
|
|
|
|
—
|
|
|
|
268
|
|
|
|
444
|
|
|
|
(234)
|
|
|
|
—
|
|
|
|
210
|
|
|
Realised gains and losses on equity shares held at fair value
through other comprehensive income
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
At 30
June 20202
|
24,932
|
|
|
|
14,010
|
|
|
|
3,792
|
|
|
|
42,734
|
|
|
|
5,906
|
|
|
|
222
|
|
|
|
48,862
|
|
|
|
Attributable to ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
Share
capital and
premium
|
|
|
Other
reserves
|
|
|
Retained
profits
|
|
|
Total
|
|
|
Other
equity
instruments
|
|
|
Non-
controlling
interests
|
|
|
Total
|
|
|||||||
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
At 1 July 2020
|
24,932
|
|
|
|
14,010
|
|
|
|
3,792
|
|
|
|
42,734
|
|
|
|
5,906
|
|
|
|
222
|
|
|
|
48,862
|
|
|
Comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Profit for the period
|
—
|
|
|
|
—
|
|
|
|
1,099
|
|
|
|
1,099
|
|
|
|
219
|
|
|
|
50
|
|
|
|
1,368
|
|
|
Other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Post-retirement defined benefit scheme remeasurements, net of
tax
|
—
|
|
|
|
—
|
|
|
|
(401)
|
|
|
|
(401)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(401)
|
|
|
Movements in revaluation reserve in respect of financial assets
held at fair value through other comprehensive income, net of
tax:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Debt
securities
|
—
|
|
|
|
85
|
|
|
|
—
|
|
|
|
85
|
|
|
|
—
|
|
|
|
—
|
|
|
|
85
|
|
|
Equity
shares
|
—
|
|
|
|
(4)
|
|
|
|
—
|
|
|
|
(4)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(4)
|
|
|
Gains and losses attributable to own credit risk, net of
tax
|
—
|
|
|
|
—
|
|
|
|
(53)
|
|
|
|
(53)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(53)
|
|
|
Movements in cash flow hedging reserve, net of tax
|
—
|
|
|
|
(333)
|
|
|
|
—
|
|
|
|
(333)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(333)
|
|
|
Movements in foreign currency translation reserve, net of
tax
|
—
|
|
|
|
(11)
|
|
|
|
—
|
|
|
|
(11)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(11)
|
|
|
Total other comprehensive income
|
—
|
|
|
|
(263)
|
|
|
|
(454)
|
|
|
|
(717)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(717)
|
|
|
Total
comprehensive income1
|
—
|
|
|
|
(263)
|
|
|
|
645
|
|
|
|
382
|
|
|
|
219
|
|
|
|
50
|
|
|
|
651
|
|
|
Transactions with owners
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Dividends
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(41)
|
|
|
|
(41)
|
|
|
Distributions on other equity instruments
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(219)
|
|
|
|
—
|
|
|
|
(219)
|
|
|
Issue of ordinary shares
|
15
|
|
|
|
—
|
|
|
|
—
|
|
|
|
15
|
|
|
|
—
|
|
|
|
—
|
|
|
|
15
|
|
|
Movement in treasury shares
|
—
|
|
|
|
—
|
|
|
|
72
|
|
|
|
72
|
|
|
|
—
|
|
|
|
—
|
|
|
|
72
|
|
|
Value of employee services:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Share
option schemes
|
—
|
|
|
|
—
|
|
|
|
36
|
|
|
|
36
|
|
|
|
—
|
|
|
|
—
|
|
|
|
36
|
|
|
Other
employee award schemes
|
—
|
|
|
|
—
|
|
|
|
39
|
|
|
|
39
|
|
|
|
—
|
|
|
|
—
|
|
|
|
39
|
|
|
Changes in non-controlling interests
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2)
|
|
|
|
(2)
|
|
|
Total transactions with owners
|
15
|
|
|
|
—
|
|
|
|
147
|
|
|
|
162
|
|
|
|
(219)
|
|
|
|
(43)
|
|
|
|
(100)
|
|
|
Realised gains and losses on equity shares held at fair value
through other comprehensive income
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
At 31
December 20202
|
24,947
|
|
|
|
13,747
|
|
|
|
4,584
|
|
|
|
43,278
|
|
|
|
5,906
|
|
|
|
229
|
|
|
|
49,413
|
|
|
|
Half-year
to 30 June
2021
|
|
|
Half-year
to 30 June
2020
|
|
|
Half-year
to 31 Dec
2020
|
|
|||
|
£m
|
|
|
£m
|
|
|
£m
|
|
|||
|
|
|
|
|
|
|
|
|
|||
Profit (loss) before tax
|
3,905
|
|
|
|
(602)
|
|
|
|
1,828
|
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
|||
Change
in operating assets
|
(2,013)
|
|
|
|
(14,313)
|
|
|
|
(4,337)
|
|
|
Change
in operating liabilities
|
2,509
|
|
|
|
41,412
|
|
|
|
(5,675)
|
|
|
Non-cash
and other items
|
2,620
|
|
|
|
2,405
|
|
|
|
7,189
|
|
|
Tax
paid
|
(602)
|
|
|
|
(726)
|
|
|
|
(10)
|
|
|
Net cash provided by (used in) operating activities
|
6,419
|
|
|
|
28,176
|
|
|
|
(1,005)
|
|
|
Cash flows from investing activities
|
|
|
|
|
|
|
|
|
|||
Purchase of financial assets
|
(5,442)
|
|
|
|
(7,115)
|
|
|
|
(1,474)
|
|
|
Proceeds from sale and maturity of financial assets
|
6,378
|
|
|
|
5,239
|
|
|
|
1,108
|
|
|
Purchase of fixed assets
|
(1,553)
|
|
|
|
(1,314)
|
|
|
|
(1,587)
|
|
|
Proceeds from sale of fixed assets
|
710
|
|
|
|
440
|
|
|
|
706
|
|
|
Acquisition of businesses, net of cash acquired
|
(7)
|
|
|
|
(3)
|
|
|
|
—
|
|
|
Net cash provided by (used in) investing activities
|
86
|
|
|
|
(2,753)
|
|
|
|
(1,247)
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
|
|
|
|||
Dividends paid to ordinary shareholders
|
(404)
|
|
|
|
—
|
|
|
|
—
|
|
|
Distributions on other equity instruments
|
(213)
|
|
|
|
(234)
|
|
|
|
(219)
|
|
|
Dividends paid to non-controlling interests
|
(51)
|
|
|
|
—
|
|
|
|
(41)
|
|
|
Interest paid on subordinated liabilities
|
(456)
|
|
|
|
(682)
|
|
|
|
(413)
|
|
|
Proceeds from issue of subordinated liabilities
|
500
|
|
|
|
—
|
|
|
|
—
|
|
|
Proceeds from issue of ordinary shares
|
12
|
|
|
|
133
|
|
|
|
11
|
|
|
Repayment of subordinated liabilities
|
(471)
|
|
|
|
(1,769)
|
|
|
|
(2,105)
|
|
|
Net cash used in financing activities
|
(1,083)
|
|
|
|
(2,552)
|
|
|
|
(2,767)
|
|
|
Effects of exchange rate changes on cash and cash
equivalents
|
(66)
|
|
|
|
4
|
|
|
|
(200)
|
|
|
Change in cash and cash equivalents
|
5,356
|
|
|
|
22,875
|
|
|
|
(5,219)
|
|
|
Cash and cash equivalents at beginning of period
|
75,467
|
|
|
|
57,811
|
|
|
|
80,686
|
|
|
Cash and cash equivalents at end of period
|
80,823
|
|
|
|
80,686
|
|
|
|
75,467
|
|
|
|
First
quarter
2021
|
Second
quarter
2021
|
Third
quarter
2021
|
Fourth
quarter
2021
|
First
quarter
2022
|
Second
quarter
2022
|
Third
quarter
2022
|
Fourth
quarter
2022
|
||||||||
At 30 June 2021
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Gross domestic product
|
(1.5)
|
|
4.3
|
|
(0.3)
|
|
3.2
|
|
1.5
|
|
0.5
|
|
0.4
|
|
0.4
|
|
UK Bank Rate
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
Unemployment rate
|
4.8
|
|
5.0
|
|
5.4
|
|
6.6
|
|
6.4
|
|
6.2
|
|
6.1
|
|
5.9
|
|
House price growth
|
6.5
|
|
10.5
|
|
6.8
|
|
5.6
|
|
5.0
|
|
1.7
|
|
0.3
|
|
0.1
|
|
Commercial real estate price growth
|
(2.9)
|
|
1.3
|
|
1.5
|
|
0.4
|
|
(0.3)
|
|
(0.5)
|
|
0.4
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
First
quarter
2020
|
Second
quarter
2020
|
Third
quarter
2020
|
Fourth
quarter
2020
|
First
quarter
2021
|
Second
quarter
2021
|
Third
quarter
2021
|
Fourth
quarter
2021
|
||||||||
At 31
December 2020
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Gross domestic product
|
(3.0)
|
|
(18.8)
|
|
16.0
|
|
(1.9)
|
|
(3.8)
|
|
5.6
|
|
3.6
|
|
1.5
|
|
UK Bank Rate
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
0.10
|
|
Unemployment rate
|
4.0
|
|
4.1
|
|
4.8
|
|
5.0
|
|
5.2
|
|
6.5
|
|
8.0
|
|
7.5
|
|
House price growth
|
2.8
|
|
2.6
|
|
7.2
|
|
5.9
|
|
5.5
|
|
4.7
|
|
(1.6)
|
|
(3.8)
|
|
Commercial real estate price growth
|
(5.0)
|
|
(7.8)
|
|
(7.8)
|
|
(7.0)
|
|
(6.1)
|
|
(2.9)
|
|
(2.2)
|
|
(1.7)
|
|
|
2021
|
2022
|
2023
|
2024
|
2025
|
2021–2025 average
|
||||||
At 30 June 2021
|
%
|
%
|
%
|
%
|
%
|
%
|
||||||
|
|
|
|
|
|
|
||||||
Upside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
6.1
|
|
5.5
|
|
1.4
|
|
1.4
|
|
1.2
|
|
3.1
|
|
UK Bank Rate
|
0.52
|
|
1.27
|
|
1.09
|
|
1.32
|
|
1.58
|
|
1.16
|
|
Unemployment rate
|
4.7
|
|
4.9
|
|
4.4
|
|
4.2
|
|
4.1
|
|
4.5
|
|
House price growth
|
6.8
|
|
3.4
|
|
4.6
|
|
3.9
|
|
3.4
|
|
4.4
|
|
Commercial real estate price growth
|
9.2
|
|
5.7
|
|
2.4
|
|
0.3
|
|
(0.3)
|
|
3.4
|
|
|
|
|
|
|
|
|
||||||
Base case
|
|
|
|
|
|
|
||||||
Gross domestic product
|
5.5
|
|
5.5
|
|
1.6
|
|
1.4
|
|
1.2
|
|
3.0
|
|
UK Bank Rate
|
0.10
|
|
0.10
|
|
0.25
|
|
0.50
|
|
0.75
|
|
0.34
|
|
Unemployment rate
|
5.4
|
|
6.1
|
|
5.4
|
|
5.0
|
|
4.8
|
|
5.4
|
|
House price growth
|
5.6
|
|
0.1
|
|
0.1
|
|
0.6
|
|
1.1
|
|
1.5
|
|
Commercial real estate price growth
|
0.4
|
|
1.0
|
|
0.6
|
|
0.3
|
|
0.5
|
|
0.6
|
|
|
|
|
|
|
|
|
||||||
Downside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
4.8
|
|
4.2
|
|
1.3
|
|
1.4
|
|
1.4
|
|
2.6
|
|
UK Bank Rate
|
0.09
|
|
0.05
|
|
0.06
|
|
0.11
|
|
0.20
|
|
0.10
|
|
Unemployment rate
|
6.0
|
|
7.8
|
|
7.1
|
|
6.5
|
|
6.0
|
|
6.7
|
|
House price growth
|
3.5
|
|
(6.2)
|
|
(7.5)
|
|
(4.9)
|
|
(1.8)
|
|
(3.5)
|
|
Commercial real estate price growth
|
(5.3)
|
|
(5.3)
|
|
(2.8)
|
|
(1.5)
|
|
0.2
|
|
(3.0)
|
|
|
|
|
|
|
|
|
||||||
Severe downside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
4.1
|
|
3.5
|
|
1.1
|
|
1.4
|
|
1.4
|
|
2.3
|
|
UK Bank Rate
|
0.06
|
|
0.00
|
|
0.01
|
|
0.02
|
|
0.03
|
|
0.02
|
|
Unemployment rate
|
7.0
|
|
9.9
|
|
9.1
|
|
8.3
|
|
7.6
|
|
8.4
|
|
House price growth
|
2.4
|
|
(11.0)
|
|
(13.2)
|
|
(9.6)
|
|
(5.1)
|
|
(7.5)
|
|
Commercial real estate price growth
|
(13.5)
|
|
(13.5)
|
|
(6.9)
|
|
(2.3)
|
|
0.5
|
|
(7.3)
|
|
|
2020
|
2021
|
2022
|
2023
|
2024
|
2020–2024 average
|
||||||
At 31
December 2020
|
%
|
%
|
%
|
%
|
%
|
%
|
||||||
|
|
|
|
|
|
|
||||||
Upside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
(10.5)
|
|
3.7
|
|
5.7
|
|
1.7
|
|
1.5
|
|
0.3
|
|
UK Bank Rate
|
0.10
|
|
1.14
|
|
1.27
|
|
1.20
|
|
1.21
|
|
0.98
|
|
Unemployment rate
|
4.3
|
|
5.4
|
|
5.4
|
|
5.0
|
|
4.5
|
|
5.0
|
|
House price growth
|
6.3
|
|
(1.4)
|
|
5.2
|
|
6.0
|
|
5.0
|
|
4.2
|
|
Commercial real estate price growth
|
(4.6)
|
|
9.3
|
|
3.9
|
|
2.1
|
|
0.3
|
|
2.1
|
|
|
|
|
|
|
|
|
||||||
Base case
|
|
|
|
|
|
|
||||||
Gross domestic product
|
(10.5)
|
|
3.0
|
|
6.0
|
|
1.7
|
|
1.4
|
|
0.1
|
|
UK Bank Rate
|
0.10
|
|
0.10
|
|
0.10
|
|
0.21
|
|
0.25
|
|
0.15
|
|
Unemployment rate
|
4.5
|
|
6.8
|
|
6.8
|
|
6.1
|
|
5.5
|
|
5.9
|
|
House price growth
|
5.9
|
|
(3.8)
|
|
0.5
|
|
1.5
|
|
1.5
|
|
1.1
|
|
Commercial real estate price growth
|
(7.0)
|
|
(1.7)
|
|
1.6
|
|
1.1
|
|
0.6
|
|
(1.1)
|
|
|
|
|
|
|
|
|
||||||
Downside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
(10.6)
|
|
1.7
|
|
5.1
|
|
1.4
|
|
1.4
|
|
(0.4)
|
|
UK Bank Rate
|
0.10
|
|
0.06
|
|
0.02
|
|
0.02
|
|
0.03
|
|
0.05
|
|
Unemployment rate
|
4.6
|
|
7.9
|
|
8.4
|
|
7.8
|
|
7.0
|
|
7.1
|
|
House price growth
|
5.6
|
|
(8.4)
|
|
(6.5)
|
|
(4.7)
|
|
(3.0)
|
|
(3.5)
|
|
Commercial real estate price growth
|
(8.7)
|
|
(10.6)
|
|
(3.2)
|
|
(0.8)
|
|
(0.8)
|
|
(4.9)
|
|
|
|
|
|
|
|
|
||||||
Severe downside
|
|
|
|
|
|
|
||||||
Gross domestic product
|
(10.8)
|
|
0.3
|
|
4.8
|
|
1.3
|
|
1.2
|
|
(0.8)
|
|
UK Bank Rate
|
0.10
|
|
0.00
|
|
0.00
|
|
0.01
|
|
0.01
|
|
0.02
|
|
Unemployment rate
|
4.8
|
|
9.9
|
|
10.7
|
|
9.8
|
|
8.7
|
|
8.8
|
|
House price growth
|
5.3
|
|
(11.1)
|
|
(12.5)
|
|
(10.7)
|
|
(7.6)
|
|
(7.5)
|
|
Commercial real estate price growth
|
(11.0)
|
|
(21.4)
|
|
(9.8)
|
|
(3.9)
|
|
(0.8)
|
|
(9.7)
|
|
|
Probability-
weighted
|
|
Upside
|
|
Base case
|
|
Downside
|
|
Severe
downside
|
|||||
At 30 June 2021
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|||||
UK Mortgages
|
905
|
|
|
544
|
|
|
684
|
|
|
1,100
|
|
|
2,064
|
|
Other Retail
|
2,053
|
|
|
1,896
|
|
|
2,009
|
|
|
2,152
|
|
|
2,355
|
|
Commercial Banking
|
1,650
|
|
|
1,395
|
|
|
1,527
|
|
|
1,799
|
|
|
2,340
|
|
Other
|
450
|
|
|
448
|
|
|
450
|
|
|
450
|
|
|
454
|
|
ECL allowance
|
5,058
|
|
|
4,283
|
|
|
4,670
|
|
|
5,501
|
|
|
7,213
|
|
|
Probability-
weighted
|
|
Upside
|
|
Base case
|
|
Downside
|
|
Severe
downside
|
|||||
At 31
December 2020
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|||||
UK Mortgages
|
1,027
|
|
|
614
|
|
|
804
|
|
|
1,237
|
|
|
2,306
|
|
Other Retail
|
2,368
|
|
|
2,181
|
|
|
2,310
|
|
|
2,487
|
|
|
2,745
|
|
Commercial Banking
|
2,402
|
|
|
1,910
|
|
|
2,177
|
|
|
2,681
|
|
|
3,718
|
|
Other
|
450
|
|
|
448
|
|
|
450
|
|
|
450
|
|
|
456
|
|
ECL allowance
|
6,247
|
|
|
5,153
|
|
|
5,741
|
|
|
6,855
|
|
|
9,225
|
|
|
At 30 June 2021
|
|
At 31
December 2020
|
||||||||
|
10pp increase
in HPI
|
|
10pp decrease
in HPI
|
|
10pp increase
in HPI
|
|
10pp decrease
in HPI
|
||||
|
|
|
|
|
|
|
|
||||
ECL impact, £m
|
(175)
|
|
|
254
|
|
|
(206)
|
|
|
284
|
|
|
At 30 June 2021
|
|
At 31
December 2020
|
||||||||
|
1pp increase in
unemployment
|
|
1pp decrease in
unemployment
|
|
1pp increase in
unemployment
|
|
1pp decrease in
unemployment
|
||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
UK Mortgages
|
33
|
|
|
(28)
|
|
|
25
|
|
|
(23)
|
|
Other Retail
|
45
|
|
|
(45)
|
|
|
54
|
|
|
(54)
|
|
Commercial Banking
|
87
|
|
|
(74)
|
|
|
125
|
|
|
(112)
|
|
Other
|
1
|
|
|
(1)
|
|
|
1
|
|
|
(1)
|
|
ECL impact
|
166
|
|
|
(148)
|
|
|
205
|
|
|
(190)
|
|
|
Modelled
ECL
|
|
Individually
assessed
|
|
Judgements
due to
COVID-191
|
|
Other
judgements
|
|
Total ECL
|
|||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|||||
At 30 June 2021
|
|
|
|
|
|
|
|
|
|
|||||
UK Mortgages
|
345
|
|
|
—
|
|
|
73
|
|
|
487
|
|
|
905
|
|
Other Retail
|
1,610
|
|
|
—
|
|
|
405
|
|
|
38
|
|
|
2,053
|
|
Commercial Banking
|
418
|
|
|
953
|
|
|
280
|
|
|
(1)
|
|
|
1,650
|
|
Other
|
50
|
|
|
—
|
|
|
400
|
|
|
—
|
|
|
450
|
|
Total
|
2,423
|
|
|
953
|
|
|
1,158
|
|
|
524
|
|
|
5,058
|
|
|
|
|
|
|
|
|
|
|
|
|||||
At 31
December 2020
|
|
|
|
|
|
|
|
|
|
|||||
UK Mortgages
|
481
|
|
|
—
|
|
|
36
|
|
|
510
|
|
|
1,027
|
|
Other Retail
|
2,060
|
|
|
—
|
|
|
321
|
|
|
(13)
|
|
|
2,368
|
|
Commercial Banking
|
1,051
|
|
|
1,222
|
|
|
131
|
|
|
(2)
|
|
|
2,402
|
|
Other
|
50
|
|
|
—
|
|
|
400
|
|
|
—
|
|
|
450
|
|
Total
|
3,642
|
|
|
1,222
|
|
|
888
|
|
|
495
|
|
|
6,247
|
|
|
At
30 June 2021
|
|
At
31
Dec
2020
|
||
|
£m
|
|
£m
|
||
|
|
|
|
||
UK Mortgages
|
73
|
|
|
36
|
|
Other Retail
|
|
|
|
||
Recognition
of impact of support measures
|
318
|
|
|
218
|
|
Incorporation
of forward-looking LGDs
|
80
|
|
|
86
|
|
Other
|
7
|
|
|
17
|
|
|
405
|
|
|
321
|
|
Commercial Banking
|
|
|
|
||
Adjustment
to economic variables used as inputs to models
|
171
|
|
|
93
|
|
Key
coronavirus-impacted sectors
|
100
|
|
|
—
|
|
Other
|
9
|
|
|
38
|
|
|
280
|
|
|
131
|
|
|
|
|
|
||
Other
|
400
|
|
|
400
|
|
Total
|
1,158
|
|
|
888
|
|
|
At
30 June
2021
|
|
At
31
Dec
2020
|
||
|
£m
|
|
£m
|
||
|
|
|
|
||
UK Mortgages
|
|
|
|
||
Adjustment
to modelled forecast parameters
|
140
|
|
|
193
|
|
End-of-term
interest only
|
168
|
|
|
179
|
|
Long-term
defaults
|
74
|
|
|
87
|
|
Other
|
105
|
|
|
51
|
|
|
487
|
|
|
510
|
|
Other Retail
|
|
|
|
||
Lifetime
extension on revolving products
|
71
|
|
|
81
|
|
Unsecured
non-scored accounts
|
(21)
|
|
|
(72)
|
|
Credit
card LGD alignment
|
(55)
|
|
|
(55)
|
|
Other
|
43
|
|
|
33
|
|
|
38
|
|
|
(13)
|
|
|
|
|
|
||
Commercial Banking
|
(1)
|
|
|
(2)
|
|
Total
|
524
|
|
|
495
|
|
|
Net interest income
|
|
Other income, net of insurance claims
|
|
Total income, net of insurance claims1
|
|
Profit before tax
|
|
External income
|
|
Inter-segment income (expense)
|
||||||
Half-year to 30 June 2021
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Underlying basis
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Retail
|
4,218
|
|
|
812
|
|
|
5,030
|
|
|
2,335
|
|
|
5,713
|
|
|
(683)
|
|
Commercial Banking
|
1,153
|
|
|
677
|
|
|
1,830
|
|
|
1,388
|
|
|
1,693
|
|
|
137
|
|
Insurance and Wealth
|
36
|
|
|
660
|
|
|
696
|
|
|
89
|
|
|
685
|
|
|
11
|
|
Other
|
11
|
|
|
268
|
|
|
279
|
|
|
253
|
|
|
(256)
|
|
|
535
|
|
Group
|
5,418
|
|
|
2,417
|
|
|
7,835
|
|
|
4,065
|
|
|
7,835
|
|
|
—
|
|
Reconciling items:
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Insurance grossing adjustment
|
(938)
|
|
|
1,026
|
|
|
88
|
|
|
—
|
|
|
|
|
|
||
Market volatility and asset sales
|
(18)
|
|
|
279
|
|
|
261
|
|
|
239
|
|
|
|
|
|
||
Amortisation of purchased intangibles
|
—
|
|
|
—
|
|
|
—
|
|
|
(35)
|
|
|
|
|
|
||
Restructuring costs
|
—
|
|
|
(8)
|
|
|
(8)
|
|
|
(255)
|
|
|
|
|
|
||
Fair value unwind and other items
|
(89)
|
|
|
(8)
|
|
|
(97)
|
|
|
(109)
|
|
|
|
|
|
||
Group – statutory
|
4,373
|
|
|
3,706
|
|
|
8,079
|
|
|
3,905
|
|
|
|
|
|
|
Net interest income
|
|
Other income, net of insurance claims
|
|
Total
income, net of insurance claims1
|
|
Profit (loss) before
tax
|
|
External income
|
|
Inter-segment income (expense)
|
||||||
Half-year
to 30 June 2020
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Underlying basis
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Retail
|
4,233
|
|
|
919
|
|
|
5,152
|
|
|
212
|
|
|
6,027
|
|
|
(875)
|
|
Commercial Banking
|
1,222
|
|
|
658
|
|
|
1,880
|
|
|
(668)
|
|
|
1,633
|
|
|
247
|
|
Insurance and Wealth
|
14
|
|
|
853
|
|
|
867
|
|
|
379
|
|
|
857
|
|
|
10
|
|
Other
|
9
|
|
|
31
|
|
|
40
|
|
|
(204)
|
|
|
(578)
|
|
|
618
|
|
Group
|
5,478
|
|
|
2,461
|
|
|
7,939
|
|
|
(281)
|
|
|
7,939
|
|
|
—
|
|
Reconciling items:
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Insurance grossing adjustment
|
1,132
|
|
|
(1,018)
|
|
|
114
|
|
|
—
|
|
|
|
|
|
||
Market volatility and asset sales
|
52
|
|
|
(75)
|
|
|
(23)
|
|
|
(43)
|
|
|
|
|
|
||
Amortisation of purchased intangibles
|
—
|
|
|
—
|
|
|
—
|
|
|
(34)
|
|
|
|
|
|
||
Restructuring costs
|
—
|
|
|
(37)
|
|
|
(37)
|
|
|
(133)
|
|
|
|
|
|
||
Fair value unwind and other items
|
(106)
|
|
|
8
|
|
|
(98)
|
|
|
(111)
|
|
|
|
|
|
||
Group – statutory
|
6,556
|
|
|
1,339
|
|
|
7,895
|
|
|
(602)
|
|
|
|
|
|
|
Net interest income
|
|
Other income, net of insurance claims
|
|
Total
income, net of insurance claims1
|
|
Profit (loss) before
tax
|
|
External income
|
|
Inter-segment income (expense)
|
||||||
Half-year
to 31 December 2020
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Underlying basis
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Retail
|
4,151
|
|
|
814
|
|
|
4,965
|
|
|
1,779
|
|
|
5,841
|
|
|
(876)
|
|
Commercial Banking
|
1,135
|
|
|
634
|
|
|
1,769
|
|
|
764
|
|
|
1,613
|
|
|
156
|
|
Insurance and Wealth
|
35
|
|
|
397
|
|
|
432
|
|
|
(41)
|
|
|
366
|
|
|
66
|
|
Other
|
(26)
|
|
|
209
|
|
|
183
|
|
|
(28)
|
|
|
(471)
|
|
|
654
|
|
Group
|
5,295
|
|
|
2,054
|
|
|
7,349
|
|
|
2,474
|
|
|
7,349
|
|
|
—
|
|
Reconciling items:
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Insurance grossing adjustment
|
(982)
|
|
|
1,045
|
|
|
63
|
|
|
—
|
|
|
|
|
|
||
Market volatility and asset sales
|
(17)
|
|
|
(38)
|
|
|
(55)
|
|
|
(16)
|
|
|
|
|
|
||
Amortisation of purchased intangibles
|
—
|
|
|
—
|
|
|
—
|
|
|
(35)
|
|
|
|
|
|
||
Restructuring costs
|
—
|
|
|
(17)
|
|
|
(17)
|
|
|
(388)
|
|
|
|
|
|
||
Fair value unwind and other items
|
(103)
|
|
|
(6)
|
|
|
(109)
|
|
|
(122)
|
|
|
|
|
|
||
Payment protection insurance
|
—
|
|
|
—
|
|
|
—
|
|
|
(85)
|
|
|
|
|
|
||
Group – statutory
|
4,193
|
|
|
3,038
|
|
|
7,231
|
|
|
1,828
|
|
|
|
|
|
|
Segment external assets
|
|
Segment customer deposits
|
|
Segment external liabilities
|
||||||||||||
|
At
30 June 2021
|
|
At
31 Dec
2020
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Retail
|
369,274
|
|
|
358,766
|
|
|
309,838
|
|
|
290,206
|
|
|
314,829
|
|
|
295,229
|
|
Commercial Banking
|
133,243
|
|
|
142,042
|
|
|
149,229
|
|
|
145,596
|
|
|
186,214
|
|
|
189,302
|
|
Insurance and Wealth
|
192,625
|
|
|
183,348
|
|
|
14,818
|
|
|
14,072
|
|
|
199,756
|
|
|
190,771
|
|
Other
|
184,545
|
|
|
187,113
|
|
|
8,464
|
|
|
10,194
|
|
|
127,002
|
|
|
146,554
|
|
Total Group
|
879,687
|
|
|
871,269
|
|
|
482,349
|
|
|
460,068
|
|
|
827,801
|
|
|
821,856
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Fee and commission income:
|
|
|
|
|
|
|||
Current
accounts
|
312
|
|
|
307
|
|
|
308
|
|
Credit
and debit card fees
|
384
|
|
|
350
|
|
|
398
|
|
Commercial
banking and treasury fees
|
215
|
|
|
120
|
|
|
154
|
|
Unit
trust and insurance broking
|
58
|
|
|
66
|
|
|
80
|
|
Factoring
|
38
|
|
|
42
|
|
|
34
|
|
Other
fees and commissions
|
287
|
|
|
236
|
|
|
213
|
|
Total fee and commission income
|
1,294
|
|
|
1,121
|
|
|
1,187
|
|
Fee and commission expense
|
(601)
|
|
|
(558)
|
|
|
(590)
|
|
Net fee and commission income
|
693
|
|
|
563
|
|
|
597
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
Insurance claims comprise:
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Life insurance and investment contracts
|
|
|
|
|
|
|||
Claims and surrenders
|
(4,465)
|
|
|
(3,647)
|
|
|
(4,023)
|
|
Change in insurance and participating investment
contracts
|
(4,395)
|
|
|
3,000
|
|
|
(7,590)
|
|
Change in non-participating investment contracts
|
(2,642)
|
|
|
1,574
|
|
|
(3,512)
|
|
|
(11,502)
|
|
|
927
|
|
|
(15,125)
|
|
Reinsurers' share
|
181
|
|
|
167
|
|
|
251
|
|
|
(11,321)
|
|
|
1,094
|
|
|
(14,874)
|
|
Change in unallocated surplus
|
(20)
|
|
|
85
|
|
|
(28)
|
|
Total life insurance and investment contracts
|
(11,341)
|
|
|
1,179
|
|
|
(14,902)
|
|
Non-life insurance
|
|
|
|
|
|
|||
Total non-life insurance claims, net of reinsurance
|
(148)
|
|
|
(156)
|
|
|
(162)
|
|
Total insurance claims
|
(11,489)
|
|
|
1,023
|
|
|
(15,064)
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Salaries and social security costs
|
1,555
|
|
|
1,493
|
|
|
1,479
|
|
Pensions
and other post-retirement benefit schemes (note 14)
|
284
|
|
|
272
|
|
|
294
|
|
Restructuring and other staff costs
|
117
|
|
|
129
|
|
|
168
|
|
|
1,956
|
|
|
1,894
|
|
|
1,941
|
|
Premises and equipment
|
130
|
|
|
237
|
|
|
230
|
|
Other expenses:
|
|
|
|
|
|
|||
IT,
data processing and communications
|
584
|
|
|
474
|
|
|
539
|
|
UK
bank levy
|
—
|
|
|
—
|
|
|
211
|
|
Operations,
marketing and other
|
559
|
|
|
488
|
|
|
531
|
|
|
1,143
|
|
|
962
|
|
|
1,281
|
|
Depreciation and amortisation
|
1,243
|
|
|
1,398
|
|
|
1,334
|
|
Goodwill impairment
|
—
|
|
|
—
|
|
|
4
|
|
Regulatory
provisions (note 15)
|
425
|
|
|
177
|
|
|
287
|
|
Total operating expenses
|
4,897
|
|
|
4,668
|
|
|
5,077
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Impact of transfers between stages
|
145
|
|
|
1,263
|
|
|
206
|
|
Other changes in credit quality
|
(506)
|
|
|
2,111
|
|
|
216
|
|
Additions (repayments)
|
(366)
|
|
|
211
|
|
|
(14)
|
|
Methodology and model changes
|
3
|
|
|
44
|
|
|
108
|
|
Other items
|
1
|
|
|
200
|
|
|
(190)
|
|
|
(868)
|
|
|
2,566
|
|
|
120
|
|
Total impairment (credit) charge
|
(723)
|
|
|
3,829
|
|
|
326
|
|
|
|
|
|
|
|
|||
In respect of:
|
|
|
|
|
|
|||
Loans
and advances to banks
|
(3)
|
|
|
21
|
|
|
(16)
|
|
Loans
and advances to customers
|
(622)
|
|
|
3,464
|
|
|
386
|
|
Debt
securities
|
—
|
|
|
1
|
|
|
—
|
|
Financial assets held at amortised cost
|
(625)
|
|
|
3,486
|
|
|
370
|
|
Other assets
|
2
|
|
|
13
|
|
|
(8)
|
|
Impairment (credit) charge on drawn balances
|
(623)
|
|
|
3,499
|
|
|
362
|
|
Loan commitments and financial guarantees
|
(98)
|
|
|
324
|
|
|
(35)
|
|
Financial assets at fair value through other comprehensive
income
|
(2)
|
|
|
6
|
|
|
(1)
|
|
Total impairment (credit) charge
|
(723)
|
|
|
3,829
|
|
|
326
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Profit (loss) before tax
|
3,905
|
|
|
(602)
|
|
|
1,828
|
|
UK
corporation tax thereon at 19 per cent (2020: 19 per
cent)
|
(742)
|
|
|
114
|
|
|
(347)
|
|
Impact of surcharge on banking profits
|
(229)
|
|
|
44
|
|
|
(151)
|
|
Non-deductible costs: conduct charges
|
(7)
|
|
|
(11)
|
|
|
(13)
|
|
Non-deductible costs: bank levy
|
—
|
|
|
—
|
|
|
(38)
|
|
Other non-deductible costs
|
(67)
|
|
|
(40)
|
|
|
(34)
|
|
Non-taxable income
|
35
|
|
|
76
|
|
|
(17)
|
|
Tax relief on coupons on other equity instruments
|
40
|
|
|
44
|
|
|
42
|
|
Tax-exempt gains on disposals
|
36
|
|
|
3
|
|
|
78
|
|
Tax losses where no deferred tax recognised
|
(9)
|
|
|
(1)
|
|
|
(57)
|
|
Remeasurement of deferred tax due to rate changes
|
970
|
|
|
354
|
|
|
(4)
|
|
Differences in overseas tax rates
|
(25)
|
|
|
13
|
|
|
2
|
|
Policyholder tax
|
(36)
|
|
|
(23)
|
|
|
(23)
|
|
Policyholder deferred tax asset in respect of life assurance
expenses
|
4
|
|
|
—
|
|
|
49
|
|
Adjustments in respect of prior years
|
(10)
|
|
|
48
|
|
|
56
|
|
Tax effect of share of results of joint ventures
|
—
|
|
|
—
|
|
|
(3)
|
|
Tax (expense) credit
|
(40)
|
|
|
621
|
|
|
(460)
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Profit (loss) attributable to ordinary shareholders – basic
and diluted
|
3,611
|
|
|
(234)
|
|
|
1,099
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30 June
2020
|
|
Half-year
to 31 Dec
2020
|
|||
|
million
|
|
million
|
|
million
|
|||
|
|
|
|
|
|
|||
Weighted-average number of ordinary shares in issue –
basic
|
70,894
|
|
|
70,434
|
|
|
70,776
|
|
Adjustment for share options and awards
|
854
|
|
|
—
|
|
|
697
|
|
Weighted-average number of ordinary shares in issue –
diluted
|
71,748
|
|
|
70,434
|
|
|
71,473
|
|
|
|
|
|
|
|
|||
Basic earnings (loss) per share
|
5.1p
|
|
(0.3p)
|
|
1.5p
|
|||
Diluted earnings (loss) per share
|
5.0p
|
|
(0.3p)
|
|
1.5p
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
||
|
£m
|
|
£m
|
||
|
|
|
|
||
Trading assets
|
17,772
|
|
|
20,825
|
|
|
|
|
|
||
Other financial assets at fair value through profit or
loss:
|
|
|
|
||
Treasury
and other bills
|
18
|
|
|
18
|
|
Loans
and advances to customers
|
10,354
|
|
|
11,244
|
|
Loans
and advances to banks
|
3,656
|
|
|
4,238
|
|
Debt
securities
|
39,021
|
|
|
38,852
|
|
Equity
shares
|
106,768
|
|
|
96,449
|
|
|
159,817
|
|
|
150,801
|
|
Total financial assets at fair value through profit or
loss
|
177,589
|
|
|
171,626
|
|
|
At 30 June 2021
|
|
At 31
December 2020
|
||||||||
|
Fair value
of assets
|
|
Fair value
of liabilities
|
|
Fair value
of assets
|
|
Fair value
of liabilities
|
||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
Hedging
|
|
|
|
|
|
|
|
||||
Derivatives designated as fair value hedges
|
123
|
|
|
284
|
|
|
478
|
|
|
256
|
|
Derivatives designated as cash flow hedges
|
59
|
|
|
131
|
|
|
338
|
|
|
428
|
|
|
182
|
|
|
415
|
|
|
816
|
|
|
684
|
|
Trading
|
|
|
|
|
|
|
|
||||
Exchange rate contracts
|
4,780
|
|
|
4,062
|
|
|
6,779
|
|
|
7,414
|
|
Interest rate contracts
|
16,700
|
|
|
12,653
|
|
|
21,644
|
|
|
18,564
|
|
Credit derivatives
|
101
|
|
|
206
|
|
|
108
|
|
|
174
|
|
Equity and other contracts
|
430
|
|
|
615
|
|
|
266
|
|
|
477
|
|
|
22,011
|
|
|
17,536
|
|
|
28,797
|
|
|
26,629
|
|
Total recognised derivative assets/liabilities
|
22,193
|
|
|
17,951
|
|
|
29,613
|
|
|
27,313
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to banks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
At 1 January 2021
|
10,752
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,752
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
Exchange and other adjustments
|
(139)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(139)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Additions (repayments)
|
201
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
201
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
Other changes in credit quality
|
|
|
|
|
|
|
|
|
|
|
(5)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5)
|
|
|||||
Credit to the income statement
|
|
|
|
|
|
|
|
|
|
|
(3)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3)
|
|
|||||
At 30 June 2021
|
10,814
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,814
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
Allowance for impairment losses
|
(3)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
10,811
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,811
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to customers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
At 1 January 2021
|
433,943
|
|
|
51,659
|
|
|
6,490
|
|
|
12,511
|
|
|
504,603
|
|
|
1,372
|
|
|
2,145
|
|
|
1,982
|
|
|
261
|
|
|
5,760
|
|
Exchange
and other adjustments1
|
(1,953)
|
|
|
(24)
|
|
|
(80)
|
|
|
51
|
|
|
(2,006)
|
|
|
1
|
|
|
(2)
|
|
|
97
|
|
|
67
|
|
|
163
|
|
Transfers to Stage 1
|
11,183
|
|
|
(11,175)
|
|
|
(8)
|
|
|
|
|
—
|
|
|
362
|
|
|
(360)
|
|
|
(2)
|
|
|
|
|
—
|
|
||
Transfers to Stage 2
|
(10,922)
|
|
|
11,371
|
|
|
(449)
|
|
|
|
|
—
|
|
|
(66)
|
|
|
158
|
|
|
(92)
|
|
|
|
|
—
|
|
||
Transfers to Stage 3
|
(334)
|
|
|
(1,229)
|
|
|
1,563
|
|
|
|
|
—
|
|
|
(9)
|
|
|
(175)
|
|
|
184
|
|
|
|
|
—
|
|
||
Impact of transfers between stages
|
(73)
|
|
|
(1,033)
|
|
|
1,106
|
|
|
|
|
—
|
|
|
(261)
|
|
|
257
|
|
|
164
|
|
|
|
|
160
|
|
||
|
|
|
|
|
|
|
|
|
|
|
26
|
|
|
(120)
|
|
|
254
|
|
|
|
|
160
|
|
||||||
Other changes in credit quality
|
|
|
|
|
|
|
|
|
|
|
(143)
|
|
|
(234)
|
|
|
31
|
|
|
(89)
|
|
|
(435)
|
|
|||||
Additions (repayments)
|
9,007
|
|
|
(4,568)
|
|
|
(801)
|
|
|
(663)
|
|
|
2,975
|
|
|
(65)
|
|
|
(176)
|
|
|
(73)
|
|
|
(36)
|
|
|
(350)
|
|
Methodology and model changes
|
|
|
|
|
|
|
|
|
|
|
(5)
|
|
|
8
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||||
(Credit) charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
(187)
|
|
|
(522)
|
|
|
212
|
|
|
(125)
|
|
|
(622)
|
|
|||||
Advances written off
|
|
|
|
|
(603)
|
|
|
(13)
|
|
|
(616)
|
|
|
|
|
|
|
(603)
|
|
|
(13)
|
|
|
(616)
|
|
||||
Recoveries of advances written off in previous years
|
|
|
|
|
72
|
|
|
—
|
|
|
72
|
|
|
|
|
|
|
72
|
|
|
—
|
|
|
72
|
|
||||
Discount unwind
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(85)
|
|
|
—
|
|
|
(85)
|
|
|||||||
At 30 June 2021
|
440,924
|
|
|
46,034
|
|
|
6,184
|
|
|
11,886
|
|
|
505,028
|
|
|
1,186
|
|
|
1,621
|
|
|
1,675
|
|
|
190
|
|
|
4,672
|
|
Allowance for impairment losses
|
(1,186)
|
|
|
(1,621)
|
|
|
(1,675)
|
|
|
(190)
|
|
|
(4,672)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
439,738
|
|
|
44,413
|
|
|
4,509
|
|
|
11,696
|
|
|
500,356
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 1 January 2021
|
5,406
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
5,408
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Exchange and other adjustments
|
(47)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(47)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Additions (repayments)
|
(350)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(350)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
At 30 June 2021
|
5,009
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
5,011
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Allowance for impairment losses
|
(1)
|
|
|
—
|
|
|
(2)
|
|
|
—
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
5,008
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,008
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total financial assets at
amortised cost
|
455,557
|
|
|
44,413
|
|
|
4,509
|
|
|
11,696
|
|
|
516,175
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
UK retail mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 1 January 2021
|
251,418
|
|
|
29,018
|
|
|
1,859
|
|
|
12,511
|
|
|
294,806
|
|
|
104
|
|
|
468
|
|
|
191
|
|
|
261
|
|
|
1,024
|
|
Exchange
and other adjustments1
|
—
|
|
|
—
|
|
|
—
|
|
|
51
|
|
|
51
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
67
|
|
|
67
|
|
Transfers to Stage 1
|
3,745
|
|
|
(3,742)
|
|
|
(3)
|
|
|
|
|
—
|
|
|
26
|
|
|
(26)
|
|
|
—
|
|
|
|
|
—
|
|
||
Transfers to Stage 2
|
(6,554)
|
|
|
6,847
|
|
|
(293)
|
|
|
|
|
—
|
|
|
(7)
|
|
|
26
|
|
|
(19)
|
|
|
|
|
—
|
|
||
Transfers to Stage 3
|
(28)
|
|
|
(666)
|
|
|
694
|
|
|
|
|
—
|
|
|
—
|
|
|
(29)
|
|
|
29
|
|
|
|
|
—
|
|
||
Impact of transfers between stages
|
(2,837)
|
|
|
2,439
|
|
|
398
|
|
|
|
|
—
|
|
|
(20)
|
|
|
62
|
|
|
26
|
|
|
|
|
68
|
|
||
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
|
33
|
|
|
36
|
|
|
|
|
68
|
|
||||||
Other changes in credit quality
|
|
|
|
|
|
|
|
|
|
|
13
|
|
|
(65)
|
|
|
(31)
|
|
|
(89)
|
|
|
(172)
|
|
|||||
Additions (repayments)
|
13,960
|
|
|
(1,687)
|
|
|
(322)
|
|
|
(663)
|
|
|
11,288
|
|
|
8
|
|
|
(25)
|
|
|
(20)
|
|
|
(36)
|
|
|
(73)
|
|
Charge (credit) to the income statement
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
(57)
|
|
|
(15)
|
|
|
(125)
|
|
|
(177)
|
|
|||||
Advances written off
|
|
|
|
|
(16)
|
|
|
(13)
|
|
|
(29)
|
|
|
|
|
|
|
(16)
|
|
|
(13)
|
|
|
(29)
|
|
||||
Recoveries of advances written off in previous years
|
|
|
|
|
5
|
|
|
—
|
|
|
5
|
|
|
|
|
|
|
5
|
|
|
—
|
|
|
5
|
|
||||
Discount unwind
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|||||||
At 30 June 2021
|
262,541
|
|
|
29,770
|
|
|
1,924
|
|
|
11,886
|
|
|
306,121
|
|
|
124
|
|
|
411
|
|
|
175
|
|
|
190
|
|
|
900
|
|
Allowance for impairment losses
|
(124)
|
|
|
(411)
|
|
|
(175)
|
|
|
(190)
|
|
|
(900)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
262,417
|
|
|
29,359
|
|
|
1,749
|
|
|
11,696
|
|
|
305,221
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for expected credit losses
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||
|
|
|
|
|
|
|
|
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Undrawn balances
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
At 1 January 2021
|
|
|
|
|
|
|
|
|
|
|
212
|
|
|
234
|
|
|
13
|
|
|
—
|
|
|
459
|
|
Exchange and other adjustments
|
|
|
|
|
|
|
|
(2)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2)
|
|
|||
Transfers to Stage 1
|
|
|
|
|
|
|
|
|
|
|
63
|
|
|
(63)
|
|
|
—
|
|
|
|
|
—
|
|
|
Transfers to Stage 2
|
|
|
|
|
|
|
|
|
|
|
(10)
|
|
|
10
|
|
|
—
|
|
|
|
|
—
|
|
|
Transfers to Stage 3
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
(4)
|
|
|
4
|
|
|
|
|
—
|
|
|
Impact of transfers between stages
|
|
|
|
|
|
|
|
(50)
|
|
|
35
|
|
|
—
|
|
|
|
|
(15)
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
(22)
|
|
|
4
|
|
|
|
|
(15)
|
|
|
Other items credited to the income statement
|
|
|
|
|
|
|
|
(41)
|
|
|
(33)
|
|
|
(9)
|
|
|
—
|
|
|
(83)
|
|
|||
Credit to the income statement
|
|
|
|
|
|
|
|
(38)
|
|
|
(55)
|
|
|
(5)
|
|
|
—
|
|
|
(98)
|
|
|||
At 30 June 2021
|
|
|
|
|
|
|
|
|
|
|
172
|
|
|
179
|
|
|
8
|
|
|
—
|
|
|
359
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for expected credit losses
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||
|
|
|
|
|
|
|
|
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
In respect of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Loans and advances to banks
|
|
|
|
|
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|||
Loans and advances to customers:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
UK
retail mortgages
|
|
|
|
|
|
|
|
|
|
|
124
|
|
|
411
|
|
|
175
|
|
|
190
|
|
|
900
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
1,062
|
|
|
1,210
|
|
|
1,500
|
|
|
—
|
|
|
3,772
|
|
|
|
|
|
|
|
|
|
|
|
|
1,186
|
|
|
1,621
|
|
|
1,675
|
|
|
190
|
|
|
4,672
|
|
Debt securities
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Financial assets at amortised cost
|
|
|
|
|
|
|
|
1,190
|
|
|
1,621
|
|
|
1,677
|
|
|
190
|
|
|
4,678
|
|
|||
Other assets
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|
—
|
|
|
21
|
|
Provisions in relation to loan commitments and financial
guarantees
|
|
|
|
172
|
|
|
179
|
|
|
8
|
|
|
—
|
|
|
359
|
|
|||||||
Total
|
|
|
|
|
|
|
|
|
|
|
1,362
|
|
|
1,800
|
|
|
1,706
|
|
|
190
|
|
|
5,058
|
|
Expected credit loss in respect of financial assets at fair value
through other comprehensive income (memorandum item)
|
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to banks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
At 1 January 2020
|
9,777
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9,777
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
Exchange and other adjustments
|
50
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
50
|
|
|
(1)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1)
|
|
Additions (repayments)
|
925
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
925
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|||||
At 31 December 2020
|
10,752
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,752
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
Allowance for impairment losses
|
(6)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
10,746
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,746
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to customers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
At 1 January 2020
|
449,975
|
|
|
28,543
|
|
|
6,015
|
|
|
13,714
|
|
|
498,247
|
|
|
675
|
|
|
995
|
|
|
1,447
|
|
|
142
|
|
|
3,259
|
|
Exchange
and other adjustments1
|
1,308
|
|
|
(59)
|
|
|
(422)
|
|
|
(8)
|
|
|
819
|
|
|
—
|
|
|
(1)
|
|
|
54
|
|
|
21
|
|
|
74
|
|
Transfers to Stage 1
|
4,972
|
|
|
(4,956)
|
|
|
(16)
|
|
|
|
|
—
|
|
|
146
|
|
|
(143)
|
|
|
(3)
|
|
|
|
|
—
|
|
||
Transfers to Stage 2
|
(28,855)
|
|
|
29,467
|
|
|
(612)
|
|
|
|
|
—
|
|
|
(218)
|
|
|
268
|
|
|
(50)
|
|
|
|
|
—
|
|
||
Transfers to Stage 3
|
(1,633)
|
|
|
(2,031)
|
|
|
3,664
|
|
|
|
|
—
|
|
|
(9)
|
|
|
(156)
|
|
|
165
|
|
|
|
|
—
|
|
||
Impact of transfers between stages
|
(25,516)
|
|
|
22,480
|
|
|
3,036
|
|
|
|
|
—
|
|
|
(85)
|
|
|
883
|
|
|
569
|
|
|
|
|
1,367
|
|
||
|
|
|
|
|
|
|
|
|
|
|
(166)
|
|
|
852
|
|
|
681
|
|
|
|
|
1,367
|
|
||||||
Other changes in credit quality
|
|
|
|
|
|
|
|
|
|
|
857
|
|
|
(16)
|
|
|
1,196
|
|
|
167
|
|
|
2,204
|
|
|||||
Additions (repayments)
|
8,176
|
|
|
695
|
|
|
(802)
|
|
|
(1,156)
|
|
|
6,913
|
|
|
50
|
|
|
145
|
|
|
(38)
|
|
|
(30)
|
|
|
127
|
|
Methodology and model changes
|
|
|
|
|
|
|
|
|
|
|
(44)
|
|
|
170
|
|
|
26
|
|
|
—
|
|
|
152
|
|
|||||
Charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
697
|
|
|
1,151
|
|
|
1,865
|
|
|
137
|
|
|
3,850
|
|
|||||
Advances written off
|
|
|
|
|
(1,587)
|
|
|
(39)
|
|
|
(1,626)
|
|
|
|
|
|
|
(1,587)
|
|
|
(39)
|
|
|
(1,626)
|
|
||||
Recoveries of advances written off in previous years
|
|
|
|
|
250
|
|
|
—
|
|
|
250
|
|
|
|
|
|
|
250
|
|
|
—
|
|
|
250
|
|
||||
Discount unwind
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(47)
|
|
|
—
|
|
|
(47)
|
|
|||||||
At 31 December 2020
|
433,943
|
|
|
51,659
|
|
|
6,490
|
|
|
12,511
|
|
|
504,603
|
|
|
1,372
|
|
|
2,145
|
|
|
1,982
|
|
|
261
|
|
|
5,760
|
|
Allowance for impairment losses
|
(1,372)
|
|
|
(2,145)
|
|
|
(1,982)
|
|
|
(261)
|
|
|
(5,760)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
432,571
|
|
|
49,514
|
|
|
4,508
|
|
|
12,250
|
|
|
498,843
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Debt securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 1 January 2020
|
5,544
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
5,547
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
3
|
|
Exchange and other adjustments
|
(21)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(21)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Additions (repayments)
|
(117)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(117)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||
Financial assets that have been written off during the
year
|
|
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
|
|
|
|
|
(1)
|
|
|
—
|
|
|
(1)
|
|
||||
At 31 December 2020
|
5,406
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
5,408
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Allowance for impairment losses
|
(1)
|
|
|
—
|
|
|
(2)
|
|
|
—
|
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
5,405
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,405
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total financial assets at
amortised cost
|
448,722
|
|
|
49,514
|
|
|
4,508
|
|
|
12,250
|
|
|
514,994
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount
|
|
Allowance for expected credit losses
|
||||||||||||||||||||||||||
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
||||||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
UK retail mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 1 January 2020
|
257,043
|
|
|
16,935
|
|
|
1,506
|
|
|
13,714
|
|
|
289,198
|
|
|
23
|
|
|
281
|
|
|
122
|
|
|
142
|
|
|
568
|
|
Exchange
and other adjustments1
|
—
|
|
|
—
|
|
|
—
|
|
|
(8)
|
|
|
(8)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|
21
|
|
Transfers to Stage 1
|
2,418
|
|
|
(2,414)
|
|
|
(4)
|
|
|
|
|
—
|
|
|
17
|
|
|
(17)
|
|
|
—
|
|
|
|
|
—
|
|
||
Transfers to Stage 2
|
(16,463)
|
|
|
16,882
|
|
|
(419)
|
|
|
|
|
—
|
|
|
(4)
|
|
|
22
|
|
|
(18)
|
|
|
|
|
—
|
|
||
Transfers to Stage 3
|
(199)
|
|
|
(974)
|
|
|
1,173
|
|
|
|
|
—
|
|
|
—
|
|
|
(35)
|
|
|
35
|
|
|
|
|
—
|
|
||
Impact of transfers between stages
|
(14,244)
|
|
|
13,494
|
|
|
750
|
|
|
|
|
—
|
|
|
(15)
|
|
|
198
|
|
|
66
|
|
|
|
|
249
|
|
||
|
|
|
|
|
|
|
|
|
|
|
(2)
|
|
|
168
|
|
|
83
|
|
|
|
|
249
|
|
||||||
Other changes in credit quality
|
|
|
|
|
|
|
|
|
|
|
63
|
|
|
(26)
|
|
|
(23)
|
|
|
167
|
|
|
181
|
|
|||||
Additions (repayments)
|
8,619
|
|
|
(1,411)
|
|
|
(375)
|
|
|
(1,156)
|
|
|
5,677
|
|
|
14
|
|
|
(15)
|
|
|
(13)
|
|
|
(30)
|
|
|
(44)
|
|
Methodology and model changes
|
|
|
|
|
|
|
|
|
|
|
6
|
|
|
60
|
|
|
24
|
|
|
—
|
|
|
90
|
|
|||||
Charge to the income statement
|
|
|
|
|
|
|
|
|
|
|
81
|
|
|
187
|
|
|
71
|
|
|
137
|
|
|
476
|
|
|||||
Advances written off
|
|
|
|
|
(37)
|
|
|
(39)
|
|
|
(76)
|
|
|
|
|
|
|
(37)
|
|
|
(39)
|
|
|
(76)
|
|
||||
Recoveries of advances written off in previous years
|
|
|
|
|
15
|
|
|
—
|
|
|
15
|
|
|
|
|
|
|
15
|
|
|
—
|
|
|
15
|
|
||||
Discount unwind
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
—
|
|
|
20
|
|
|||||||
At 31 December 2020
|
251,418
|
|
|
29,018
|
|
|
1,859
|
|
|
12,511
|
|
|
294,806
|
|
|
104
|
|
|
468
|
|
|
191
|
|
|
261
|
|
|
1,024
|
|
Allowance for impairment losses
|
(104)
|
|
|
(468)
|
|
|
(191)
|
|
|
(261)
|
|
|
(1,024)
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net carrying amount
|
251,314
|
|
|
28,550
|
|
|
1,668
|
|
|
12,250
|
|
|
293,782
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for expected credit losses
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||
|
|
|
|
|
|
|
|
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Undrawn balances
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
At 1 January 2020
|
|
|
|
|
|
|
|
|
|
|
95
|
|
|
77
|
|
|
5
|
|
|
—
|
|
|
177
|
|
Exchange and other adjustments
|
|
|
|
|
|
|
|
(6)
|
|
|
(1)
|
|
|
—
|
|
|
—
|
|
|
(7)
|
|
|||
Transfers to Stage 1
|
|
|
|
|
|
|
|
|
|
|
19
|
|
|
(19)
|
|
|
—
|
|
|
|
|
—
|
|
|
Transfers to Stage 2
|
|
|
|
|
|
|
|
|
|
|
(11)
|
|
|
11
|
|
|
—
|
|
|
|
|
—
|
|
|
Transfers to Stage 3
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
|
(6)
|
|
|
7
|
|
|
|
|
—
|
|
|
Impact of transfers between stages
|
|
|
|
|
|
|
|
(10)
|
|
|
102
|
|
|
10
|
|
|
|
|
102
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
(3)
|
|
|
88
|
|
|
17
|
|
|
|
|
102
|
|
|
Other items charged to the income statement
|
|
|
|
|
|
|
|
126
|
|
|
70
|
|
|
(9)
|
|
|
—
|
|
|
187
|
|
|||
Charge to the income statement
|
|
|
|
|
|
|
|
123
|
|
|
158
|
|
|
8
|
|
|
—
|
|
|
289
|
|
|||
At 31 December 2020
|
|
|
|
|
|
|
|
|
|
|
212
|
|
|
234
|
|
|
13
|
|
|
—
|
|
|
459
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for expected credit losses
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||
|
|
|
|
|
|
|
|
|
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
In respect of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Loans and advances to banks
|
|
|
|
|
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|||
Loans and advances to customers:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
UK
retail mortgages
|
|
|
|
|
|
|
|
|
|
|
104
|
|
|
468
|
|
|
191
|
|
|
261
|
|
|
1,024
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
1,268
|
|
|
1,677
|
|
|
1,791
|
|
|
—
|
|
|
4,736
|
|
|
|
|
|
|
|
|
|
|
|
|
1,372
|
|
|
2,145
|
|
|
1,982
|
|
|
261
|
|
|
5,760
|
|
Debt securities
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
3
|
|
Financial assets at amortised cost
|
|
|
|
|
|
|
|
1,379
|
|
|
2,145
|
|
|
1,984
|
|
|
261
|
|
|
5,769
|
|
|||
Other assets
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
19
|
|
Provisions in relation to loan commitments and financial
guarantees
|
|
|
|
212
|
|
|
234
|
|
|
13
|
|
|
—
|
|
|
459
|
|
|||||||
Total
|
|
|
|
|
|
|
|
|
|
|
1,591
|
|
|
2,379
|
|
|
2,016
|
|
|
261
|
|
|
6,247
|
|
Expected credit loss in respect of financial assets at fair value
through other comprehensive income (memorandum item)
|
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
At 30 June 2021
|
|
At 31
December 2020
|
||||||||||||||
|
At fair value through profit or loss
|
|
At
amortised
cost
|
|
Total
|
|
At fair value through profit or loss
|
|
At amortised cost
|
|
Total
|
||||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Medium-term notes issued
|
6,818
|
|
|
40,423
|
|
|
47,241
|
|
|
6,783
|
|
|
42,621
|
|
|
49,404
|
|
Covered bonds
|
—
|
|
|
20,120
|
|
|
20,120
|
|
|
—
|
|
|
23,980
|
|
|
23,980
|
|
Certificates of deposit
|
—
|
|
|
4,225
|
|
|
4,225
|
|
|
—
|
|
|
7,998
|
|
|
7,998
|
|
Securitisation notes
|
38
|
|
|
4,093
|
|
|
4,131
|
|
|
45
|
|
|
4,406
|
|
|
4,451
|
|
Commercial paper
|
—
|
|
|
12,407
|
|
|
12,407
|
|
|
—
|
|
|
8,392
|
|
|
8,392
|
|
|
6,856
|
|
|
81,268
|
|
|
88,124
|
|
|
6,828
|
|
|
87,397
|
|
|
94,225
|
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
||
|
£m
|
|
£m
|
||
|
|
|
|
||
Defined benefit pension schemes:
|
|
|
|
||
Fair
value of scheme assets
|
49,299
|
|
|
51,127
|
|
Present
value of funded obligations
|
(46,297)
|
|
|
(49,549)
|
|
Net pension scheme asset
|
3,002
|
|
|
1,578
|
|
Other post-retirement schemes
|
(102)
|
|
|
(109)
|
|
Net retirement benefit asset
|
2,900
|
|
|
1,469
|
|
|
|
|
|
||
Recognised on the balance sheet as:
|
|
|
|
||
Retirement
benefit assets
|
3,134
|
|
|
1,714
|
|
Retirement
benefit obligations
|
(234)
|
|
|
(245)
|
|
Net retirement benefit asset
|
2,900
|
|
|
1,469
|
|
|
£m
|
|
|
|
|
Asset
at 1 January 2021
|
1,469
|
|
Income statement charge
|
(122)
|
|
Employer contributions
|
949
|
|
Remeasurement
|
604
|
|
Asset at 30 June 2021
|
2,900
|
|
|
Half-year
to 30 June
2021
|
|
Half-year
to 30
June
2020
|
|
Half-year
to 31
Dec
2020
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
Defined benefit pension schemes
|
122
|
|
|
121
|
|
|
126
|
|
Defined contribution schemes
|
162
|
|
|
151
|
|
|
168
|
|
Total charge to the income statement
|
284
|
|
|
272
|
|
|
294
|
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
||
|
%
|
|
%
|
||
|
|
|
|
||
Discount rate
|
1.93
|
|
|
1.44
|
|
Rate of inflation:
|
|
|
|
||
Retail
Price Index
|
3.10
|
|
|
2.80
|
|
Consumer
Price Index
|
2.70
|
|
|
2.41
|
|
Rate of salary increases
|
0.00
|
|
|
0.00
|
|
Weighted-average rate of increase for pensions in
payment
|
2.81
|
|
|
2.61
|
|
Provisions
for financial
commitments
and guarantees
|
|
Regulatory
provisions
|
|
Other
|
|
Total
|
|||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
At 1 January 2021
|
459
|
|
|
642
|
|
|
814
|
|
|
1,915
|
|
Exchange and other adjustments
|
(2)
|
|
|
(4)
|
|
|
(10)
|
|
|
(16)
|
|
Provisions applied
|
—
|
|
|
(398)
|
|
|
(152)
|
|
|
(550)
|
|
Charge for the period
|
(98)
|
|
|
425
|
|
|
82
|
|
|
409
|
|
At 30 June 2021
|
359
|
|
|
665
|
|
|
734
|
|
|
1,758
|
|
|
At
30 June 2021
|
|
At
31 Dec
2020
|
||
|
£m
|
|
£m
|
||
|
|
|
|
||
Contingent liabilities
|
|
|
|
||
Acceptances and endorsements
|
157
|
|
|
131
|
|
Other:
|
|
|
|
||
Other
items serving as direct credit substitutes
|
513
|
|
|
317
|
|
Performance
bonds, including letters of credit, and other transaction-related
contingencies
|
1,994
|
|
|
2,105
|
|
|
2,507
|
|
|
2,422
|
|
Total contingent liabilities
|
2,664
|
|
|
2,553
|
|
|
|
|
|
||
Commitments and guarantees
|
|
|
|
||
Documentary credits and other short-term trade-related
transactions
|
1
|
|
|
1
|
|
Forward asset purchases and forward deposits placed
|
74
|
|
|
127
|
|
|
|
|
|
||
Undrawn formal standby facilities, credit lines and other
commitments to lend:
|
|
|
|
||
Less than 1 year original maturity:
|
|
|
|
||
Mortgage
offers made
|
16,740
|
|
|
20,179
|
|
Other
commitments and guarantees
|
89,944
|
|
|
89,269
|
|
|
106,684
|
|
|
109,448
|
|
1 year or over original maturity
|
33,642
|
|
|
38,299
|
|
Total commitments and guarantees
|
140,401
|
|
|
147,875
|
|
|
At 30 June 2021
|
|
At 31
December 2020
|
||||||||
|
Carrying
value
|
|
Fair
value
|
|
Carrying
value
|
|
Fair
value
|
||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
Financial assets
|
|
|
|
|
|
|
|
||||
Loans and advances to banks
|
10,811
|
|
|
10,812
|
|
|
10,746
|
|
|
10,745
|
|
Loans and advances to customers
|
500,356
|
|
|
501,187
|
|
|
498,843
|
|
|
498,255
|
|
Debt securities
|
5,008
|
|
|
5,001
|
|
|
5,405
|
|
|
5,398
|
|
Financial assets at amortised cost
|
516,175
|
|
|
517,000
|
|
|
514,994
|
|
|
514,398
|
|
|
|
|
|
|
|
|
|
||||
Financial liabilities
|
|
|
|
|
|
|
|
||||
Deposits from banks
|
20,655
|
|
|
20,656
|
|
|
31,465
|
|
|
31,468
|
|
Customer deposits
|
482,349
|
|
|
482,513
|
|
|
460,068
|
|
|
460,338
|
|
Debt securities in issue
|
81,268
|
|
|
85,363
|
|
|
87,397
|
|
|
93,152
|
|
Liabilities arising from non-participating investment
contracts
|
42,031
|
|
|
42,031
|
|
|
38,452
|
|
|
38,452
|
|
Subordinated liabilities
|
13,527
|
|
|
15,628
|
|
|
14,261
|
|
|
16,410
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||
Financial assets
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
At 30 June 2021
|
|
|
|
|
|
|
|
||||
Financial assets at fair value through profit or loss:
|
|
|
|
|
|
|
|
||||
Loans
and advances to customers
|
—
|
|
|
12,676
|
|
|
9,844
|
|
|
22,520
|
|
Loans
and advances to banks
|
—
|
|
|
3,818
|
|
|
—
|
|
|
3,818
|
|
Debt
securities
|
16,427
|
|
|
26,330
|
|
|
1,708
|
|
|
44,465
|
|
Treasury
and other bills
|
18
|
|
|
—
|
|
|
—
|
|
|
18
|
|
Equity
shares
|
104,960
|
|
|
100
|
|
|
1,708
|
|
|
106,768
|
|
Financial assets at fair value through profit or loss
|
121,405
|
|
|
42,924
|
|
|
13,260
|
|
|
177,589
|
|
Assets arising from contracts held with reinsurers
|
—
|
|
|
19,102
|
|
|
—
|
|
|
19,102
|
|
Total financial assets at fair value through profit or
loss
|
121,405
|
|
|
62,026
|
|
|
13,260
|
|
|
196,691
|
|
Financial assets at fair value through other comprehensive
income:
|
|
|
|
|
|
|
|
||||
Debt
securities
|
12,609
|
|
|
13,205
|
|
|
167
|
|
|
25,981
|
|
Treasury
and other bills
|
25
|
|
|
—
|
|
|
—
|
|
|
25
|
|
Equity
shares
|
—
|
|
|
—
|
|
|
207
|
|
|
207
|
|
Total financial assets at fair value through other comprehensive
income
|
12,634
|
|
|
13,205
|
|
|
374
|
|
|
26,213
|
|
Derivative financial instruments
|
33
|
|
|
21,092
|
|
|
1,068
|
|
|
22,193
|
|
Total financial assets carried at fair value
|
134,072
|
|
|
96,323
|
|
|
14,702
|
|
|
245,097
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||
Financial assets
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
At 31
December 2020
|
|
|
|
|
|
|
|
||||
Financial assets at fair value through profit or loss:
|
|
|
|
|
|
|
|
||||
Loans
and advances to customers
|
—
|
|
|
12,508
|
|
|
11,501
|
|
|
24,009
|
|
Loans
and advances to banks
|
—
|
|
|
4,467
|
|
|
—
|
|
|
4,467
|
|
Debt
securities
|
20,376
|
|
|
24,353
|
|
|
1,954
|
|
|
46,683
|
|
Treasury
and other bills
|
18
|
|
|
—
|
|
|
—
|
|
|
18
|
|
Equity
shares
|
94,687
|
|
|
171
|
|
|
1,591
|
|
|
96,449
|
|
Financial assets at fair value through profit or loss
|
115,081
|
|
|
41,499
|
|
|
15,046
|
|
|
171,626
|
|
Assets arising from contracts held with reinsurers
|
—
|
|
|
19,543
|
|
|
—
|
|
|
19,543
|
|
Total financial assets at fair value through profit or
loss
|
115,081
|
|
|
61,042
|
|
|
15,046
|
|
|
191,169
|
|
Financial assets at fair value through other comprehensive
income:
|
|
|
|
|
|
|
|
||||
Debt
securities
|
14,784
|
|
|
12,437
|
|
|
180
|
|
|
27,401
|
|
Treasury
and other bills
|
36
|
|
|
—
|
|
|
—
|
|
|
36
|
|
Equity
shares
|
—
|
|
|
—
|
|
|
166
|
|
|
166
|
|
Total financial assets at fair value through other comprehensive
income
|
14,820
|
|
|
12,437
|
|
|
346
|
|
|
27,603
|
|
Derivative financial instruments
|
60
|
|
|
28,572
|
|
|
981
|
|
|
29,613
|
|
Total financial assets carried at fair value
|
129,961
|
|
|
102,051
|
|
|
16,373
|
|
|
248,385
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||
Financial liabilities
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
At 30 June 2021
|
|
|
|
|
|
|
|
||||
Financial liabilities at fair value through profit or
loss:
|
|
|
|
|
|
|
|
||||
Liabilities
designated at fair value through profit or loss
|
—
|
|
|
6,818
|
|
|
39
|
|
|
6,857
|
|
Trading
liabilities
|
1,072
|
|
|
13,125
|
|
|
—
|
|
|
14,197
|
|
Total financial liabilities at fair value through profit or
loss
|
1,072
|
|
|
19,943
|
|
|
39
|
|
|
21,054
|
|
Derivative financial instruments
|
56
|
|
|
16,626
|
|
|
1,269
|
|
|
17,951
|
|
Total financial liabilities carried at fair value
|
1,128
|
|
|
36,569
|
|
|
1,308
|
|
|
39,005
|
|
|
|
|
|
|
|
|
|
||||
At 31
December 2020
|
|
|
|
|
|
|
|
||||
Financial liabilities at fair value through profit or
loss:
|
|
|
|
|
|
|
|
||||
Liabilities
designated at fair value through profit or loss
|
—
|
|
|
6,783
|
|
|
45
|
|
|
6,828
|
|
Trading
liabilities
|
778
|
|
|
15,040
|
|
|
—
|
|
|
15,818
|
|
Total financial liabilities at fair value through profit or
loss
|
778
|
|
|
21,823
|
|
|
45
|
|
|
22,646
|
|
Derivative financial instruments
|
56
|
|
|
25,883
|
|
|
1,374
|
|
|
27,313
|
|
Total financial liabilities carried at fair value
|
834
|
|
|
47,706
|
|
|
1,419
|
|
|
49,959
|
|
|
Financial assets at fair value through profit or loss
|
|
Financial assets at fair value through other comprehensive
income
|
|
Derivative assets
|
|
Total financial assets carried at fair value
|
||||
|
£m
|
|
£m
|
|
£m
|
|
£m
|
||||
|
|
|
|
|
|
|
|
||||
At 1
January 2021
|
15,046
|
|
|
346
|
|
|
981
|
|
|
16,373
|
|
Exchange and other adjustments
|
(16)
|
|
|
(7)
|
|
|
3
|
|
|
(20)
|
|
Losses recognised in the income statement within other
income
|
(135)
|
|
|
—
|
|
|
(154)
|
|
|
(289)
|
|
Gains recognised in other comprehensive income within the
revaluation reserve in respect of financial assets at fair value
through other comprehensive income
|
—
|
|
|
43
|
|
|
—
|
|
|
43
|
|
Purchases/increases to customer loans
|
644
|
|
|
—
|
|
|
302
|
|
|
946
|
|
Sales/repayments of customer loans
|
(1,520)
|
|
|
(8)
|
|
|
(64)
|
|
|
(1,592)
|
|
Transfers into the level 3 portfolio
|
19
|
|
|
—
|
|
|
—
|
|
|
19
|
|
Transfers out of the level 3 portfolio
|
(778)
|
|
|
—
|
|
|
—
|
|
|
(778)
|
|
At 30 June 2021
|
13,260
|
|
|
374
|
|
|
1,068
|
|
|
14,702
|
|
Losses
recognised in the income statement, within other income, relating
to the change in fair value of those assets held at 30 June
2021
|
(187)
|
|
|
—
|
|
|
(156)
|
|
|
(343)
|
|
|
|
|
|
|
|
|
|
||||
At 1
January 2020
|
14,908
|
|
|
408
|
|
|
863
|
|
|
16,179
|
|
Exchange and other adjustments
|
106
|
|
|
11
|
|
|
19
|
|
|
136
|
|
Gains recognised in the income statement within other
income
|
135
|
|
|
—
|
|
|
124
|
|
|
259
|
|
Losses recognised in other comprehensive income within the
revaluation reserve in respect of financial assets at fair value
through other comprehensive income
|
—
|
|
|
(67)
|
|
|
—
|
|
|
(67)
|
|
Purchases/increases to customer loans
|
851
|
|
|
—
|
|
|
2
|
|
|
853
|
|
Sales/repayments of customer loans
|
(839)
|
|
|
(7)
|
|
|
(81)
|
|
|
(927)
|
|
Transfers into the level 3 portfolio
|
73
|
|
|
—
|
|
|
41
|
|
|
114
|
|
Transfers out of the level 3 portfolio
|
(247)
|
|
|
—
|
|
|
(84)
|
|
|
(331)
|
|
At 30
June 2020
|
14,987
|
|
|
345
|
|
|
884
|
|
|
16,216
|
|
Gains
recognised in the income statement, within other income, relating
to the change in fair value of those assets held at 30 June
2020
|
141
|
|
|
—
|
|
|
132
|
|
|
273
|
|
|
Financial liabilities at fair value through profit or
loss
|
|
Derivative liabilities
|
|
Total
financial liabilities carried at
fair value
|
|||
|
£m
|
|
£m
|
|
£m
|
|||
|
|
|
|
|
|
|||
At 1
January 2021
|
45
|
|
|
1,374
|
|
|
1,419
|
|
Exchange and other adjustments
|
—
|
|
|
3
|
|
|
3
|
|
Gains recognised in the income statement within other
income
|
(2)
|
|
|
(247)
|
|
|
(249)
|
|
Additions
|
1
|
|
|
201
|
|
|
202
|
|
Redemptions
|
(5)
|
|
|
(19)
|
|
|
(24)
|
|
Transfers into the level 3 portfolio
|
—
|
|
|
—
|
|
|
—
|
|
Transfers out of the level 3 portfolio
|
—
|
|
|
(43)
|
|
|
(43)
|
|
At 30 June 2021
|
39
|
|
|
1,269
|
|
|
1,308
|
|
Gains
recognised in the income statement, within other income, relating
to the change in fair value of those liabilities held at 30 June
2021
|
(2)
|
|
|
(244)
|
|
|
(246)
|
|
|
|
|
|
|
|
|||
At 1
January 2020
|
48
|
|
|
1,367
|
|
|
1,415
|
|
Exchange and other adjustments
|
—
|
|
|
20
|
|
|
20
|
|
Losses recognised in the income statement within other
income
|
1
|
|
|
194
|
|
|
195
|
|
Additions
|
—
|
|
|
2
|
|
|
2
|
|
Redemptions
|
(2)
|
|
|
(8)
|
|
|
(10)
|
|
Transfers into the level 3 portfolio
|
—
|
|
|
51
|
|
|
51
|
|
Transfers out of the level 3 portfolio
|
—
|
|
|
(159)
|
|
|
(159)
|
|
At 30
June 2020
|
47
|
|
|
1,467
|
|
|
1,514
|
|
Losses
recognised in the income statement, within other income, relating
to the change in fair value of those liabilities held at 30 June
2020
|
—
|
|
|
195
|
|
|
195
|
|
|
|
|
At 30 June 2021
|
|||||
|
|
|
|
Effect of reasonably
possible alternative
assumptions2
|
||||
|
Valuation techniques
|
Significant unobservable inputs1
|
Carrying value
|
Favourable changes
|
Unfavourable
changes
|
|||
|
|
|
£m
|
£m
|
£m
|
|||
|
|
|
|
|
|
|||
Financial assets at fair value through profit or loss
|
|
|
|
|
||||
Loans and advances to customers
|
Discounted cash flows
|
Interest
rate spreads (-50bps/+191bps)
|
9,844
|
|
514
|
|
(498)
|
|
Equity and venture capital investments
|
Market approach
|
Earnings
multiple (0.3/14.4)
|
1,682
|
|
143
|
|
(143)
|
|
Equity and venture capital investments
|
Underlying
asset/net asset value
(incl.
property prices)3
|
n/a
|
795
|
|
111
|
|
(123)
|
|
Unlisted equities, debt securities and property partnerships in the
life funds
|
Underlying
asset/net asset value
(incl.
property prices)3
|
n/a
|
743
|
|
7
|
|
(21)
|
|
Other
|
|
|
196
|
|
9
|
|
(9)
|
|
|
|
|
13,260
|
|
|
|
||
Financial assets at fair value through other comprehensive
income
|
|
374
|
|
|
|
|||
Derivative financial assets
|
|
|
|
|
|
|||
Interest rate derivatives
|
Option pricing model
|
Interest
rate volatility (8%/124%)
|
1,068
|
|
6
|
|
(14)
|
|
|
|
|
1,068
|
|
|
|
||
Level 3 financial assets carried at fair value
|
|
14,702
|
|
|
|
|||
|
|
|
|
|
|
|||
Financial liabilities at fair value through profit or
loss
|
39
|
|
|
|
||||
Derivative financial liabilities
|
|
|
|
|
|
|||
Interest rate derivatives
|
Option pricing model
|
Interest
rate volatility (8%/124%)
|
1,269
|
|
—
|
|
—
|
|
|
|
|
1,269
|
|
|
|
||
Level 3 financial liabilities carried at fair value
|
|
1,308
|
|
|
|
|
|
|
At 31
December 2020
|
|||||
|
|
|
|
Effect
of reasonably
possible
alternative
assumptions2
|
||||
|
Valuation
techniques
|
Significant
unobservable inputs1
|
Carrying value
|
Favourable changes
|
Unfavourable changes
|
|||
|
|
|
£m
|
£m
|
£m
|
|||
|
|
|
|
|
|
|||
Financial assets at fair value through profit or loss
|
|
|
|
|||||
Loans and advances to customers
|
Discounted cash flows
|
Interest
rate spreads (-50bps/+215bps)
|
11,501
|
|
528
|
|
(651)
|
|
Equity and venture capital investments
|
Market approach
|
Earnings
multiple (1.0/15.2)
|
1,905
|
|
72
|
|
(72)
|
|
Equity and venture capital investments
|
Underlying
asset/net asset value
(incl.
property prices)3
|
n/a
|
634
|
|
91
|
|
(121)
|
|
Unlisted equities, debt securities and property partnerships in the
life funds
|
Underlying
asset/net asset value
(incl.
property prices)3
|
n/a
|
780
|
|
6
|
|
(34)
|
|
Other
|
|
|
226
|
|
10
|
|
(10)
|
|
|
|
|
15,046
|
|
|
|
||
Financial assets at fair value through other comprehensive
income
|
|
346
|
|
|
|
|||
Derivative financial assets
|
|
|
|
|
|
|||
Interest rate derivatives
|
Option pricing model
|
Interest
rate volatility (13%/128%)
|
981
|
|
8
|
|
(6)
|
|
|
|
|
981
|
|
|
|
||
Level 3
financial assets carried at fair value
|
|
16,373
|
|
|
|
|||
|
|
|
|
|
|
|||
Financial liabilities at fair value through profit or
loss
|
45
|
|
|
|
||||
Derivative financial liabilities
|
|
|
|
|
|
|||
Interest rate derivatives
|
Option pricing model
|
Interest
rate volatility (13%/128%)
|
1,374
|
|
—
|
|
—
|
|
|
|
|
1,374
|
|
|
|
||
Level 3
financial liabilities carried at fair value
|
|
1,419
|
|
|
|
Gross drawn exposures and expected credit loss
allowances
|
Drawn exposures
|
|
Expected credit loss allowance
|
||||||||||||||||||||||||||
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||||||||
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 30 June 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to banks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
CMS 1-10
|
10,804
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,804
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
CMS 11-14
|
10
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 15-18
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 19
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,814
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,814
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to customers:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Retail - UK Mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
262,472
|
|
|
22,374
|
|
|
—
|
|
|
—
|
|
|
284,846
|
|
|
123
|
|
|
234
|
|
|
—
|
|
|
—
|
|
|
357
|
|
RMS 7-9
|
69
|
|
|
4,022
|
|
|
—
|
|
|
—
|
|
|
4,091
|
|
|
1
|
|
|
59
|
|
|
—
|
|
|
—
|
|
|
60
|
|
RMS 10
|
—
|
|
|
918
|
|
|
—
|
|
|
—
|
|
|
918
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
—
|
|
|
23
|
|
RMS 11-13
|
—
|
|
|
2,456
|
|
|
—
|
|
|
—
|
|
|
2,456
|
|
|
—
|
|
|
95
|
|
|
—
|
|
|
—
|
|
|
95
|
|
RMS 14
|
—
|
|
|
—
|
|
|
1,924
|
|
|
11,886
|
|
|
13,810
|
|
|
—
|
|
|
—
|
|
|
175
|
|
|
190
|
|
|
365
|
|
|
262,541
|
|
|
29,770
|
|
|
1,924
|
|
|
11,886
|
|
|
306,121
|
|
|
124
|
|
|
411
|
|
|
175
|
|
|
190
|
|
|
900
|
|
Retail - credit cards
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
9,032
|
|
|
1,124
|
|
|
—
|
|
|
—
|
|
|
10,156
|
|
|
61
|
|
|
46
|
|
|
—
|
|
|
—
|
|
|
107
|
|
RMS 7-9
|
1,720
|
|
|
1,028
|
|
|
—
|
|
|
—
|
|
|
2,748
|
|
|
60
|
|
|
115
|
|
|
—
|
|
|
—
|
|
|
175
|
|
RMS 10
|
150
|
|
|
317
|
|
|
—
|
|
|
—
|
|
|
467
|
|
|
6
|
|
|
60
|
|
|
—
|
|
|
—
|
|
|
66
|
|
RMS 11-13
|
54
|
|
|
467
|
|
|
—
|
|
|
—
|
|
|
521
|
|
|
—
|
|
|
169
|
|
|
—
|
|
|
—
|
|
|
169
|
|
RMS 14
|
—
|
|
|
—
|
|
|
323
|
|
|
—
|
|
|
323
|
|
|
—
|
|
|
—
|
|
|
140
|
|
|
—
|
|
|
140
|
|
|
10,956
|
|
|
2,936
|
|
|
323
|
|
|
—
|
|
|
14,215
|
|
|
127
|
|
|
390
|
|
|
140
|
|
|
—
|
|
|
657
|
|
Retail - loans and overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
5,991
|
|
|
398
|
|
|
—
|
|
|
—
|
|
|
6,389
|
|
|
73
|
|
|
19
|
|
|
—
|
|
|
—
|
|
|
92
|
|
RMS 7-9
|
1,707
|
|
|
519
|
|
|
—
|
|
|
—
|
|
|
2,226
|
|
|
74
|
|
|
60
|
|
|
—
|
|
|
—
|
|
|
134
|
|
RMS 10
|
63
|
|
|
143
|
|
|
—
|
|
|
—
|
|
|
206
|
|
|
6
|
|
|
29
|
|
|
—
|
|
|
—
|
|
|
35
|
|
RMS 11-13
|
21
|
|
|
353
|
|
|
—
|
|
|
—
|
|
|
374
|
|
|
3
|
|
|
134
|
|
|
—
|
|
|
—
|
|
|
137
|
|
RMS 14
|
—
|
|
|
—
|
|
|
312
|
|
|
—
|
|
|
312
|
|
|
—
|
|
|
—
|
|
|
151
|
|
|
—
|
|
|
151
|
|
|
7,782
|
|
|
1,413
|
|
|
312
|
|
|
—
|
|
|
9,507
|
|
|
156
|
|
|
242
|
|
|
151
|
|
|
—
|
|
|
549
|
|
Retail - UK Motor Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
11,638
|
|
|
1,464
|
|
|
—
|
|
|
—
|
|
|
13,102
|
|
|
142
|
|
|
36
|
|
|
—
|
|
|
—
|
|
|
178
|
|
RMS 7-9
|
687
|
|
|
490
|
|
|
—
|
|
|
—
|
|
|
1,177
|
|
|
7
|
|
|
29
|
|
|
—
|
|
|
—
|
|
|
36
|
|
RMS 10
|
—
|
|
|
134
|
|
|
—
|
|
|
—
|
|
|
134
|
|
|
—
|
|
|
19
|
|
|
—
|
|
|
—
|
|
|
19
|
|
RMS 11-13
|
22
|
|
|
184
|
|
|
—
|
|
|
—
|
|
|
206
|
|
|
—
|
|
|
45
|
|
|
—
|
|
|
—
|
|
|
45
|
|
RMS 14
|
—
|
|
|
—
|
|
|
233
|
|
|
—
|
|
|
233
|
|
|
—
|
|
|
—
|
|
|
152
|
|
|
—
|
|
|
152
|
|
|
12,347
|
|
|
2,272
|
|
|
233
|
|
|
—
|
|
|
14,852
|
|
|
149
|
|
|
129
|
|
|
152
|
|
|
—
|
|
|
430
|
|
Retail - other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
15,661
|
|
|
485
|
|
|
—
|
|
|
—
|
|
|
16,146
|
|
|
25
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
40
|
|
RMS 7-9
|
1,982
|
|
|
357
|
|
|
—
|
|
|
—
|
|
|
2,339
|
|
|
6
|
|
|
43
|
|
|
—
|
|
|
—
|
|
|
49
|
|
RMS 10
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 11-13
|
431
|
|
|
356
|
|
|
—
|
|
|
—
|
|
|
787
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
—
|
|
|
29
|
|
RMS 14
|
—
|
|
|
—
|
|
|
244
|
|
|
—
|
|
|
244
|
|
|
—
|
|
|
—
|
|
|
54
|
|
|
—
|
|
|
54
|
|
|
18,074
|
|
|
1,203
|
|
|
244
|
|
|
—
|
|
|
19,521
|
|
|
31
|
|
|
87
|
|
|
54
|
|
|
—
|
|
|
172
|
|
Total Retail
|
311,700
|
|
|
37,594
|
|
|
3,036
|
|
|
11,886
|
|
|
364,216
|
|
|
587
|
|
|
1,259
|
|
|
672
|
|
|
190
|
|
|
2,708
|
|
Gross drawn exposures and expected credit loss allowances
(continued)
|
Drawn exposures
|
|
Expected credit loss allowance
|
||||||||||||||||||||||||||
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||||||||
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 30 June 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial Banking
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
CMS 1-10
|
38,828
|
|
|
133
|
|
|
—
|
|
|
—
|
|
|
38,961
|
|
|
28
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
30
|
|
CMS 11-14
|
32,404
|
|
|
3,461
|
|
|
—
|
|
|
—
|
|
|
35,865
|
|
|
118
|
|
|
51
|
|
|
—
|
|
|
—
|
|
|
169
|
|
CMS 15-18
|
3,012
|
|
|
4,203
|
|
|
—
|
|
|
—
|
|
|
7,215
|
|
|
44
|
|
|
237
|
|
|
—
|
|
|
—
|
|
|
281
|
|
CMS 19
|
—
|
|
|
607
|
|
|
—
|
|
|
—
|
|
|
607
|
|
|
—
|
|
|
71
|
|
|
—
|
|
|
—
|
|
|
71
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
3,078
|
|
|
—
|
|
|
3,078
|
|
|
—
|
|
|
—
|
|
|
987
|
|
|
—
|
|
|
987
|
|
|
74,244
|
|
|
8,404
|
|
|
3,078
|
|
|
—
|
|
|
85,726
|
|
|
190
|
|
|
361
|
|
|
987
|
|
|
—
|
|
|
1,538
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
877
|
|
|
36
|
|
|
—
|
|
|
—
|
|
|
913
|
|
|
9
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
10
|
|
RMS 7-9
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 10
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 11-13
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 14
|
—
|
|
|
—
|
|
|
70
|
|
|
—
|
|
|
70
|
|
|
—
|
|
|
—
|
|
|
16
|
|
|
—
|
|
|
16
|
|
|
877
|
|
|
36
|
|
|
70
|
|
|
—
|
|
|
983
|
|
|
9
|
|
|
1
|
|
|
16
|
|
|
—
|
|
|
26
|
|
CMS 1-10
|
54,098
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
54,098
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 11-14
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 15-18
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 19
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
54,103
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
54,103
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Central overlay
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
400
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
400
|
|
Total loans and advances to customers
|
440,924
|
|
|
46,034
|
|
|
6,184
|
|
|
11,886
|
|
|
505,028
|
|
|
1,186
|
|
|
1,621
|
|
|
1,675
|
|
|
190
|
|
|
4,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
In respect of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
311,700
|
|
|
37,594
|
|
|
3,036
|
|
|
11,886
|
|
|
364,216
|
|
|
587
|
|
|
1,259
|
|
|
672
|
|
|
190
|
|
|
2,708
|
|
Commercial Banking
|
74,244
|
|
|
8,404
|
|
|
3,078
|
|
|
—
|
|
|
85,726
|
|
|
190
|
|
|
361
|
|
|
987
|
|
|
—
|
|
|
1,538
|
|
Other1
|
54,980
|
|
|
36
|
|
|
70
|
|
|
—
|
|
|
55,086
|
|
|
409
|
|
|
1
|
|
|
16
|
|
|
—
|
|
|
426
|
|
Total loans and advances to customers
|
440,924
|
|
|
46,034
|
|
|
6,184
|
|
|
11,886
|
|
|
505,028
|
|
|
1,186
|
|
|
1,621
|
|
|
1,675
|
|
|
190
|
|
|
4,672
|
|
Gross drawn exposures and expected credit loss
allowances
|
Drawn exposures
|
|
Expected credit loss allowance
|
||||||||||||||||||||||||||
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||||||||
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 31
December 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to banks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
CMS 1-10
|
10,670
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,670
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
CMS 11-14
|
82
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
82
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 15-18
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 19
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,752
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,752
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and advances to customers:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Retail - UK Mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
251,372
|
|
|
21,010
|
|
|
—
|
|
|
—
|
|
|
272,382
|
|
|
103
|
|
|
247
|
|
|
—
|
|
|
—
|
|
|
350
|
|
RMS 7-9
|
46
|
|
|
4,030
|
|
|
—
|
|
|
—
|
|
|
4,076
|
|
|
1
|
|
|
66
|
|
|
—
|
|
|
—
|
|
|
67
|
|
RMS 10
|
—
|
|
|
907
|
|
|
—
|
|
|
—
|
|
|
907
|
|
|
—
|
|
|
25
|
|
|
—
|
|
|
—
|
|
|
25
|
|
RMS 11-13
|
—
|
|
|
3,071
|
|
|
—
|
|
|
—
|
|
|
3,071
|
|
|
—
|
|
|
130
|
|
|
—
|
|
|
—
|
|
|
130
|
|
RMS 14
|
—
|
|
|
—
|
|
|
1,859
|
|
|
12,511
|
|
|
14,370
|
|
|
—
|
|
|
—
|
|
|
191
|
|
|
261
|
|
|
452
|
|
|
251,418
|
|
|
29,018
|
|
|
1,859
|
|
|
12,511
|
|
|
294,806
|
|
|
104
|
|
|
468
|
|
|
191
|
|
|
261
|
|
|
1,024
|
|
Retail - credit cards
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
9,619
|
|
|
1,284
|
|
|
—
|
|
|
—
|
|
|
10,903
|
|
|
75
|
|
|
57
|
|
|
—
|
|
|
—
|
|
|
132
|
|
RMS 7-9
|
1,603
|
|
|
1,137
|
|
|
—
|
|
|
—
|
|
|
2,740
|
|
|
66
|
|
|
138
|
|
|
—
|
|
|
—
|
|
|
204
|
|
RMS 10
|
274
|
|
|
343
|
|
|
—
|
|
|
—
|
|
|
617
|
|
|
14
|
|
|
70
|
|
|
—
|
|
|
—
|
|
|
84
|
|
RMS 11-13
|
—
|
|
|
509
|
|
|
—
|
|
|
—
|
|
|
509
|
|
|
—
|
|
|
193
|
|
|
—
|
|
|
—
|
|
|
193
|
|
RMS 14
|
—
|
|
|
—
|
|
|
340
|
|
|
—
|
|
|
340
|
|
|
—
|
|
|
—
|
|
|
153
|
|
|
—
|
|
|
153
|
|
|
11,496
|
|
|
3,273
|
|
|
340
|
|
|
—
|
|
|
15,109
|
|
|
155
|
|
|
458
|
|
|
153
|
|
|
—
|
|
|
766
|
|
Retail - loans and overdrafts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
RMS 1-6
|
5,559
|
|
|
291
|
|
|
—
|
|
|
—
|
|
|
5,850
|
|
|
80
|
|
|
15
|
|
|
—
|
|
|
—
|
|
|
95
|
|
RMS 7-9
|
1,990
|
|
|
580
|
|
|
—
|
|
|
—
|
|
|
2,570
|
|
|
99
|
|
|
66
|
|
|
—
|
|
|
—
|
|
|
165
|
|
RMS 10
|
116
|
|
|
181
|
|
|
—
|
|
|
—
|
|
|
297
|
|
|
13
|
|
|
36
|
|
|
—
|
|
|
—
|
|
|
49
|
|
RMS 11-13
|
45
|
|
|
467
|
|
|
—
|
|
|
—
|
|
|
512
|
|
|
9
|
|
|
178
|
|
|
—
|
|
|
—
|
|
|
187
|
|
RMS 14
|
—
|
|
|
—
|
|
|
307
|
|
|
—
|
|
|
307
|
|
|
—
|
|
|
—
|
|
|
147
|
|
|
—
|
|
|
147
|
|
|
7,710
|
|
|
1,519
|
|
|
307
|
|
|
—
|
|
|
9,536
|
|
|
201
|
|
|
295
|
|
|
147
|
|
|
—
|
|
|
643
|
|
Retail - UK Motor Finance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
12,035
|
|
|
1,396
|
|
|
—
|
|
|
—
|
|
|
13,431
|
|
|
187
|
|
|
46
|
|
|
—
|
|
|
—
|
|
|
233
|
|
RMS 7-9
|
738
|
|
|
456
|
|
|
—
|
|
|
—
|
|
|
1,194
|
|
|
7
|
|
|
33
|
|
|
—
|
|
|
—
|
|
|
40
|
|
RMS 10
|
—
|
|
|
171
|
|
|
—
|
|
|
—
|
|
|
171
|
|
|
—
|
|
|
30
|
|
|
—
|
|
|
—
|
|
|
30
|
|
RMS 11-13
|
13
|
|
|
193
|
|
|
—
|
|
|
—
|
|
|
206
|
|
|
—
|
|
|
62
|
|
|
—
|
|
|
—
|
|
|
62
|
|
RMS 14
|
—
|
|
|
—
|
|
|
199
|
|
|
—
|
|
|
199
|
|
|
—
|
|
|
—
|
|
|
133
|
|
|
—
|
|
|
133
|
|
|
12,786
|
|
|
2,216
|
|
|
199
|
|
|
—
|
|
|
15,201
|
|
|
194
|
|
|
171
|
|
|
133
|
|
|
—
|
|
|
498
|
|
Retail - other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
14,952
|
|
|
482
|
|
|
—
|
|
|
—
|
|
|
15,434
|
|
|
19
|
|
|
19
|
|
|
—
|
|
|
—
|
|
|
38
|
|
RMS 7-9
|
2,418
|
|
|
334
|
|
|
—
|
|
|
—
|
|
|
2,752
|
|
|
11
|
|
|
39
|
|
|
—
|
|
|
—
|
|
|
50
|
|
RMS 10
|
—
|
|
|
21
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
1
|
|
RMS 11-13
|
509
|
|
|
467
|
|
|
—
|
|
|
—
|
|
|
976
|
|
|
—
|
|
|
40
|
|
|
—
|
|
|
—
|
|
|
40
|
|
RMS 14
|
—
|
|
|
—
|
|
|
184
|
|
|
—
|
|
|
184
|
|
|
—
|
|
|
—
|
|
|
59
|
|
|
—
|
|
|
59
|
|
|
17,879
|
|
|
1,304
|
|
|
184
|
|
|
—
|
|
|
19,367
|
|
|
30
|
|
|
99
|
|
|
59
|
|
|
—
|
|
|
188
|
|
Total Retail
|
301,289
|
|
|
37,330
|
|
|
2,889
|
|
|
12,511
|
|
|
354,019
|
|
|
684
|
|
|
1,491
|
|
|
683
|
|
|
261
|
|
|
3,119
|
|
Gross drawn exposures and expected credit loss allowances
(continued)
|
Drawn exposures
|
|
Expected credit loss allowance
|
||||||||||||||||||||||||||
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
POCI
|
|
Total
|
|||||||||||
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|
£m
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
At 31
December 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial Banking
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
CMS 1-10
|
35,072
|
|
|
191
|
|
|
—
|
|
|
—
|
|
|
35,263
|
|
|
42
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
44
|
|
CMS 11-14
|
30,821
|
|
|
6,971
|
|
|
—
|
|
|
—
|
|
|
37,792
|
|
|
141
|
|
|
109
|
|
|
—
|
|
|
—
|
|
|
250
|
|
CMS 15-18
|
4,665
|
|
|
6,469
|
|
|
—
|
|
|
—
|
|
|
11,134
|
|
|
96
|
|
|
398
|
|
|
—
|
|
|
—
|
|
|
494
|
|
CMS 19
|
—
|
|
|
685
|
|
|
—
|
|
|
—
|
|
|
685
|
|
|
—
|
|
|
144
|
|
|
—
|
|
|
—
|
|
|
144
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
3,524
|
|
|
—
|
|
|
3,524
|
|
|
—
|
|
|
—
|
|
|
1,282
|
|
|
—
|
|
|
1,282
|
|
|
70,558
|
|
|
14,316
|
|
|
3,524
|
|
|
—
|
|
|
88,398
|
|
|
279
|
|
|
653
|
|
|
1,282
|
|
|
—
|
|
|
2,214
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
RMS 1-6
|
871
|
|
|
13
|
|
|
—
|
|
|
—
|
|
|
884
|
|
|
9
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
10
|
|
RMS 7-9
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 10
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 11-13
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
RMS 14
|
—
|
|
|
—
|
|
|
67
|
|
|
—
|
|
|
67
|
|
|
—
|
|
|
—
|
|
|
17
|
|
|
—
|
|
|
17
|
|
|
871
|
|
|
13
|
|
|
67
|
|
|
—
|
|
|
951
|
|
|
9
|
|
|
1
|
|
|
17
|
|
|
—
|
|
|
27
|
|
CMS 1-10
|
60,985
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
60,985
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 11-14
|
238
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
238
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 15-18
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 19
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
CMS 20-23
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
61,225
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
61,235
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Central overlay
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
400
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
400
|
|
Total loans and advances to customers
|
433,943
|
|
|
51,659
|
|
|
6,490
|
|
|
12,511
|
|
|
504,603
|
|
|
1,372
|
|
|
2,145
|
|
|
1,982
|
|
|
261
|
|
|
5,760
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
In respect of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
301,289
|
|
|
37,330
|
|
|
2,889
|
|
|
12,511
|
|
|
354,019
|
|
|
684
|
|
|
1,491
|
|
|
683
|
|
|
261
|
|
|
3,119
|
|
Commercial Banking
|
70,558
|
|
|
14,316
|
|
|
3,524
|
|
|
—
|
|
|
88,398
|
|
|
279
|
|
|
653
|
|
|
1,282
|
|
|
—
|
|
|
2,214
|
|
Other1
|
62,096
|
|
|
13
|
|
|
77
|
|
|
—
|
|
|
62,186
|
|
|
409
|
|
|
1
|
|
|
17
|
|
|
—
|
|
|
427
|
|
Total loans and advances to customers
|
433,943
|
|
|
51,659
|
|
|
6,490
|
|
|
12,511
|
|
|
504,603
|
|
|
1,372
|
|
|
2,145
|
|
|
1,982
|
|
|
261
|
|
|
5,760
|
|
Shares quoted ex-dividend
|
5 August 2021
|
|
|
Record date
|
6 August 2021
|
|
|
Final date for joining or leaving the dividend reinvestment
plan
|
20 August 2021
|
|
|
Dividend paid
|
13 September 2021
|
Asset quality ratio
|
The underlying impairment charge for the period (on an annualised
basis) in respect of loans and advances to customers after releases
and write-backs, expressed as a percentage of average gross loans
and advances to customers for the period
|
Average interest-earning banking assets
|
Gross loans and advances to customers adjusted to remove fee-based
and other non-banking balances, averaged over the
period.
|
Banking net interest margin
|
Banking net interest income on customer and product balances in the
banking businesses as a percentage of average gross banking
interest-earning assets for the period
|
Cost:income ratio
|
Total costs as a percentage of net income calculated on an
underlying basis
|
Loan to deposit ratio
|
Loans and advances to customers net of allowance for impairment
losses and excluding reverse repurchase agreements divided by
customer deposits excluding repurchase agreements on an underlying
basis
|
Present value of new business premium
|
The total single premium sales received in the period (on an
annualised basis) plus the discounted value of premiums expected to
be received over the term of the new regular premium
contracts
|
Return on risk-weighted assets
|
Underlying profit before tax divided by average risk-weighted
assets
|
Return on tangible equity
|
Statutory profit after tax adjusted to deduct profit attributable
to non-controlling interests and other equity holders, divided by
average tangible net assets
|
Tangible net assets per share
|
Net assets excluding intangible assets such as goodwill and
acquisition-related intangibles divided by the weighted average
number of ordinary shares in issue
|
Underlying profit before impairment
|
Underlying profit adjusted to remove the underlying impairment
charge
|
Underlying, or 'above the line' profit
|
Statutory profit before tax adjusted for certain items as detailed
in the Basis of Presentation
|