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Share Name | Share Symbol | Market | Type |
---|---|---|---|
NatWest Group PLC (PK) | USOTC:RBSPF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 0.46% | 4.41 | 4.25 | 4.92 | 4.85 | 4.41 | 4.67 | 13,992 | 18:57:16 |
|
|
Business performance summary
|
|
2
|
H1 2024 performance summary
|
4
|
Performance key metrics and ratios
|
6
|
Chief Financial Officer review
|
8
|
Retail Banking
|
9
|
Private Banking
|
10
|
Commercial
& Institutional
|
11
|
Central
items & other
|
12
|
Segment
performance
|
|
|
Risk and capital management
|
|
17
|
Credit
risk
|
17
|
Economic loss drivers
|
21
|
Governance and post model adjustments
|
23
|
Measurement uncertainty and ECL sensitivity
analysis
|
25
|
Measurement uncertainty and ECL adequacy
|
26
|
Credit risk - Banking activities
|
26
|
Financial instruments within the scope of the IFRS 9
ECL framework
|
27
|
Segment analysis - portfolio summary
|
30
|
Segment loans and impairment metrics
|
31
|
Sector analysis - portfolio summary
|
37
|
Wholesale forbearance
|
39
|
Personal portfolio
|
42
|
Commercial real estate
|
43
|
Flow statements
|
Risk and capital management continued
|
|
51
|
Stage 2 decomposition by a significant increase in
credit risk trigger
|
53
|
Asset quality
|
57
|
Credit risk - Trading activities
|
60
|
Capital, liquidity and funding risk
|
71
|
Non-traded market risk
|
76
|
Traded market risk
|
76
|
Pension risk
|
76
|
Compliance and conduct risk
|
|
|
Financial statements and notes
|
|
77
|
Condensed consolidated income statement
|
78
|
Condensed consolidated statement of comprehensive
income
|
79
|
Condensed consolidated balance sheet
|
80
|
Condensed consolidated statement of changes in
equity
|
82
|
Condensed consolidated cash flow statement
|
83
|
Presentation of condensed consolidated financial
statements
|
83
|
Net interest income
|
84
|
Non-interest income
|
85
|
Operating expenses
|
86
|
Segmental analysis
|
89
|
Tax
|
90
|
Financial instruments - classification
|
92
|
Financial instruments - valuation
|
Financial statements and notes continued
|
|
97
|
Trading assets and liabilities
|
98
|
Loan impairment provisions
|
99
|
Provisions for liabilities and charges
|
99
|
Dividends
|
99
|
Contingent liabilities and commitments
|
100
|
Litigation and regulatory matters
|
106
|
Related party transactions
|
106
|
Acquisitions
|
106
|
Post balance sheet events
|
106
|
Date of approval
|
107
|
Independent review report to NatWest Group
plc
|
|
|
Additional information
|
|
108
|
NatWest Group plc summary risk factors
|
110
|
Statement of directors' responsibilities
|
111
|
Presentation of information
|
111
|
Statutory accounts
|
111
|
Forward-looking statements
|
112
|
Share information and contacts
|
|
|
Appendix
|
|
113
|
Non-IFRS financial measures
|
118
|
Performance measures not defined under
IFRS
|
|
Half year ended
|
|
Quarter ended
|
||||||
|
30 June
|
30 June
|
|
|
30 June
|
31 March
|
|
30 June
|
|
|
2024
|
2023
|
Variance
|
|
2024
|
2024
|
Variance
|
2023
|
Variance
|
Summary consolidated income statement
|
£m
|
£m
|
%
|
|
£m
|
£m
|
%
|
£m
|
%
|
Net interest income
|
5,408
|
5,726
|
(5.6%)
|
|
2,757
|
2,651
|
4.0%
|
2,824
|
(2.4%)
|
Non-interest income
|
1,726
|
2,001
|
(13.7%)
|
|
902
|
824
|
9.5%
|
1,027
|
(12.2%)
|
Total income
|
7,134
|
7,727
|
(7.7%)
|
|
3,659
|
3,475
|
5.3%
|
3,851
|
(5.0%)
|
Litigation and conduct costs
|
(101)
|
(108)
|
(6.5%)
|
|
(77)
|
(24)
|
nm
|
(52)
|
48.1%
|
Other operating expenses
|
(3,956)
|
(3,807)
|
3.9%
|
|
(1,928)
|
(2,028)
|
(4.9%)
|
(1,875)
|
2.8%
|
Operating expenses
|
(4,057)
|
(3,915)
|
3.6%
|
|
(2,005)
|
(2,052)
|
(2.3%)
|
(1,927)
|
4.0%
|
Profit before impairment losses/releases
|
3,077
|
3,812
|
(19.3%)
|
|
1,654
|
1,423
|
16.2%
|
1,924
|
(14.0%)
|
Impairment (losses)/releases
|
(48)
|
(223)
|
(78.5%)
|
|
45
|
(93)
|
(148.4%)
|
(153)
|
(129.4%)
|
Operating profit before tax
|
3,029
|
3,589
|
(15.6%)
|
|
1,699
|
1,330
|
27.7%
|
1,771
|
(4.1%)
|
Tax charge
|
(801)
|
(1,061)
|
(24.5%)
|
|
(462)
|
(339)
|
36.3%
|
(549)
|
(15.8%)
|
Profit from continuing operations
|
2,228
|
2,528
|
(11.9%)
|
|
1,237
|
991
|
24.8%
|
1,222
|
1.2%
|
Profit/(loss) from discontinued operations, net of tax
|
11
|
(108)
|
(110.2%)
|
|
15
|
(4)
|
nm
|
(143)
|
(110.5%)
|
Profit for the period
|
2,239
|
2,420
|
(7.5%)
|
|
1,252
|
987
|
26.8%
|
1,079
|
16.0%
|
|
|
|
|
|
|
|
|
|
|
Performance key metrics and ratios
|
|
|
|
|
|
|
|
|
|
Notable items within total income (1)
|
£130m
|
£344m
|
nm
|
|
£69m
|
£61m
|
nm
|
£288m
|
nm
|
Total income excluding notable items (1)
|
£7,004m
|
£7,383m
|
(5.1%)
|
|
£3,590m
|
£3,414m
|
5.2%
|
£3,563m
|
0.8%
|
Net interest margin (1)
|
2.07%
|
2.23%
|
(16bps)
|
|
2.10%
|
2.05%
|
5bps
|
2.20%
|
(10bps)
|
Average interest earning assets (1)
|
£524bn
|
£518bn
|
1.2%
|
|
£528bn
|
£521bn
|
1.3%
|
£514bn
|
2.7%
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
55.5%
|
49.3%
|
6.2%
|
|
52.7%
|
58.4%
|
(5.7%)
|
48.7%
|
4.0%
|
Loan impairment rate (1)
|
3bps
|
12bps
|
(9bps)
|
|
(5bps)
|
10bps
|
(15bps)
|
16bps
|
(21bps)
|
Profit attributable to ordinary shareholders
|
£2,099m
|
£2,299m
|
(8.7%)
|
|
£1,181m
|
£918m
|
28.6%
|
£1,020m
|
15.8%
|
Total earnings per share attributable to ordinary shareholders -
basic
|
24.2p
|
24.3p
|
(0.1p)
|
|
13.7p
|
10.5p
|
3.2p
|
11.0p
|
2.7p
|
Return on tangible equity (RoTE) (1)
|
16.4%
|
18.2%
|
(1.8%)
|
|
18.5%
|
14.2%
|
4.3%
|
16.4%
|
2.1%
|
Climate and sustainable funding and financing (2)
|
£16.3bn
|
£16.0bn
|
1.9%
|
|
£9.7bn
|
£6.6bn
|
47.0%
|
£8.4bn
|
15.5%
|
|
|
|
|
|
As at
|
||||
|
|
|
|
|
30 June
|
31 March
|
|
31 December
|
|
|
|
|
|
|
2024
|
2024
|
Variance
|
2023
|
Variance
|
Balance sheet
|
|
|
|
|
£bn
|
£bn
|
%
|
£bn
|
%
|
Total assets
|
|
|
|
|
690.3
|
697.5
|
(1.0%)
|
692.7
|
(0.3%)
|
Loans to customers - amortised cost
|
|
|
|
|
379.3
|
378.0
|
0.3%
|
381.4
|
(0.6%)
|
Loans to customers excluding central items (1,3)
|
|
|
|
|
355.3
|
357.0
|
(0.5%)
|
355.6
|
(0.1%)
|
Loans to customers and banks - amortised cost and
FVOCI
|
|
|
|
|
388.9
|
387.7
|
0.3%
|
392.0
|
(0.8%)
|
Total impairment provisions (4)
|
|
|
|
|
3.3
|
3.6
|
(8.3%)
|
3.6
|
(8.3%)
|
Expected credit loss (ECL) coverage ratio
|
|
|
|
|
0.86%
|
0.94%
|
(8bps)
|
0.93%
|
(7bps)
|
Assets under management and administration
(AUMA) (1)
|
|
|
|
|
45.1
|
43.1
|
4.6%
|
40.8
|
10.5%
|
Customer deposits
|
|
|
|
|
433.0
|
432.8
|
0.0%
|
431.4
|
0.4%
|
Customer deposits excluding central items (1,3)
|
|
|
|
|
425.2
|
420.0
|
1.2%
|
419.1
|
1.5%
|
Liquidity and funding
|
|
|
|
|
|
|
|
|
|
Liquidity coverage ratio (LCR)
|
|
|
|
|
151%
|
151%
|
0.0%
|
144%
|
7.0%
|
Liquidity portfolio
|
|
|
|
|
227
|
229
|
(1.0%)
|
223
|
1.8%
|
Net stable funding ratio (NSFR)
|
|
|
|
|
139%
|
136%
|
3.0%
|
133%
|
6.0%
|
Loan:deposit ratio (excl. repos and reverse
repos) (1)
|
|
|
|
|
83%
|
84%
|
(1%)
|
84%
|
(1%)
|
Total wholesale funding
|
|
|
|
|
83
|
87
|
(4.6%)
|
80
|
3.8%
|
Short-term wholesale funding
|
|
|
|
|
27
|
31
|
(12.9%)
|
28
|
(3.6%)
|
Capital and leverage
|
|
|
|
|
|
|
|
|
|
Common Equity Tier 1 (CET1) ratio (5)
|
|
|
|
|
13.6%
|
13.5%
|
10bps
|
13.4%
|
20bps
|
Total capital ratio (5)
|
|
|
|
|
19.5%
|
18.8%
|
70bps
|
18.4%
|
110bps
|
Pro forma CET1 ratio (excl. foreseeable
items) (6)
|
|
|
|
|
14.1%
|
14.3%
|
(20bps)
|
14.2%
|
(10bps)
|
Risk-weighted assets (RWAs)
|
|
|
|
|
180.8
|
186.3
|
(3.0%)
|
183.0
|
(1.2%)
|
UK leverage ratio
|
|
|
|
|
5.2%
|
5.1%
|
0.1%
|
5.0%
|
0.2%
|
Tangible net asset value (TNAV) per ordinary
share (1,7)
|
|
|
|
|
304p
|
302p
|
2p
|
292p
|
12p
|
Number of ordinary shares in issue (millions) (7)
|
|
|
|
|
8,307
|
8,727
|
(4.8%)
|
8,792
|
(5.5%)
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30
June
|
30
June
|
|
30
June
|
31
March
|
30
June
|
|
2024
|
2023
|
|
2024
|
2024
|
2023
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Total income
|
2,690
|
3,120
|
|
1,365
|
1,325
|
1,516
|
Operating expenses
|
(1,470)
|
(1,367)
|
|
(697)
|
(773)
|
(671)
|
of which: Other operating expenses
|
(1,457)
|
(1,343)
|
|
(690)
|
(767)
|
(650)
|
Impairment losses
|
(122)
|
(193)
|
|
(59)
|
(63)
|
(79)
|
Operating profit
|
1,098
|
1,560
|
|
609
|
489
|
766
|
|
|
|
|
|
|
|
Return on equity (1)
|
18.4%
|
29.1%
|
|
20.3%
|
16.5%
|
28.2%
|
Net interest margin (1)
|
2.26%
|
2.65%
|
|
2.31%
|
2.22%
|
2.56%
|
Cost:income ratio
|
|
|
|
|
|
|
(excl. litigation and
conduct) (1)
|
54.2%
|
43.0%
|
|
50.5%
|
57.9%
|
42.9%
|
Loan impairment rate (1)
|
12bps
|
19bps
|
|
12bps
|
12bps
|
15bps
|
|
|
|
|
|
|
|
|
|
|
|
As
at
|
||
|
|
|
|
30
June
|
31
March
|
31
December
|
|
|
|
|
2024
|
2024
|
2023
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Net loans to customers (amortised cost)
|
|
|
|
203.3
|
203.5
|
205.2
|
Customer deposits
|
|
|
|
191.5
|
190.0
|
188.0
|
RWAs
|
|
|
|
62.3
|
62.5
|
61.6
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2024
|
2023
|
|
2024
|
2024
|
2023
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Total income
|
444
|
567
|
|
236
|
208
|
271
|
Operating expenses
|
(356)
|
(322)
|
|
(175)
|
(181)
|
(167)
|
of which: Other operating expenses
|
(355)
|
(311)
|
|
(175)
|
(180)
|
(159)
|
Impairment releases/(losses)
|
11
|
(11)
|
|
5
|
6
|
(3)
|
Operating profit
|
99
|
234
|
|
66
|
33
|
101
|
|
|
|
|
|
|
|
Return on equity (1)
|
10.5%
|
24.7%
|
|
14.4%
|
6.7%
|
20.8%
|
Net interest margin (1)
|
2.18%
|
3.13%
|
|
2.30%
|
2.06%
|
2.94%
|
Cost:income ratio
|
|
|
|
|
|
|
(excl. litigation and
conduct) (1)
|
80.0%
|
54.9%
|
|
74.2%
|
86.5%
|
58.7%
|
Loan impairment rate (1)
|
(12)bps
|
11bps
|
|
(11)bps
|
(13)bps
|
6bps
|
AUM net flows (£bn) (1)
|
1.0
|
1.0
|
|
0.6
|
0.4
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
As at
|
||
|
|
|
|
30 June
|
31 March
|
31 December
|
|
|
|
|
2024
|
2024
|
2023
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Net loans to customers (amortised cost)
|
|
|
|
18.1
|
18.2
|
18.5
|
Customer deposits
|
|
|
|
39.5
|
37.8
|
37.7
|
RWAs
|
|
|
|
11.0
|
11.3
|
11.2
|
Assets under management (AUMs) (1)
|
|
|
|
34.7
|
33.6
|
31.7
|
Assets under administration (AUAs) (1)
|
|
|
|
10.4
|
9.5
|
9.1
|
Total assets under management and administration
(AUMA) (1)
|
|
45.1
|
43.1
|
40.8
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2024
|
2023
|
|
2024
|
2024
|
2023
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Net interest income
|
2,543
|
2,504
|
|
1,297
|
1,246
|
1,243
|
Non-interest income
|
1,257
|
1,244
|
|
644
|
613
|
552
|
Total income
|
3,800
|
3,748
|
|
1,941
|
1,859
|
1,795
|
|
|
|
|
|
|
|
Operating expenses
|
(2,150)
|
(1,987)
|
|
(1,099)
|
(1,051)
|
(984)
|
of which: Other operating expenses
|
(2,073)
|
(1,893)
|
|
(1,053)
|
(1,020)
|
(934)
|
Impairment releases/(losses)
|
57
|
(20)
|
|
96
|
(39)
|
(64)
|
Operating profit
|
1,707
|
1,741
|
|
938
|
769
|
747
|
|
|
|
|
|
|
|
Return on equity (1)
|
16.2%
|
16.9%
|
|
17.8%
|
14.6%
|
14.3%
|
Net interest margin (1)
|
2.10%
|
2.06%
|
|
2.12%
|
2.07%
|
2.05%
|
Cost:income ratio
|
|
|
|
|
|
|
(excl. litigation and
conduct) (1)
|
54.6%
|
50.5%
|
|
54.3%
|
54.9%
|
52.0%
|
Loan impairment rate (1)
|
(8)bps
|
3bps
|
|
(28)bps
|
11bps
|
20bps
|
|
|
|
|
|
|
|
|
|
|
|
As at
|
||
|
|
|
|
30 June
|
31 March
|
31 December
|
|
|
|
|
2024
|
2024
|
2023
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Net loans to customers (amortised cost)
|
|
|
|
133.9
|
135.3
|
131.9
|
Customer deposits
|
|
|
|
194.2
|
192.2
|
193.4
|
Funded assets (1)
|
|
|
|
315.5
|
321.7
|
306.9
|
RWAs
|
|
|
|
104.9
|
109.9
|
107.4
|
|
Half year ended
|
|
Quarter ended
|
|||
|
30 June
|
30 June
|
|
30 June
|
31 March
|
30 June
|
|
2024
|
2023
|
|
2024
|
2024
|
2023
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
|
Total income
|
200
|
292
|
|
117
|
83
|
269
|
Operating expenses
|
(81)
|
(239)
|
|
(34)
|
(47)
|
(105)
|
of which: Other operating expenses
|
(71)
|
(260)
|
|
(10)
|
(61)
|
(132)
|
of which: Ulster Bank RoI direct
expenses
|
(55)
|
(163)
|
|
(30)
|
(25)
|
(63)
|
Impairment releases/(losses)
|
6
|
1
|
|
3
|
3
|
(7)
|
Operating profit
|
125
|
54
|
|
86
|
39
|
157
|
|
|
|
|
|
As at
|
|
|
|
|
|
30 June
|
31 March
|
31 December
|
|
|
|
|
2024
|
2024
|
2023
|
|
|
|
|
£bn
|
£bn
|
£bn
|
Net loans to customers (amortised cost)
|
|
|
24.0
|
21.0
|
25.8
|
|
Customer deposits
|
|
|
|
7.8
|
12.8
|
12.3
|
RWAs
|
|
|
|
2.6
|
2.6
|
2.8
|
|
Half year ended 30 June 2024
|
||||
|
Retail
|
Private
|
Commercial &
|
Central items
|
Total NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
Income statement
|
|
|
|
|
|
Net interest income
|
2,475
|
285
|
2,543
|
105
|
5,408
|
Own credit adjustments
|
-
|
-
|
(7)
|
-
|
(7)
|
Other non-interest income
|
215
|
159
|
1,264
|
95
|
1,733
|
Total income
|
2,690
|
444
|
3,800
|
200
|
7,134
|
Direct expenses
|
(381)
|
(126)
|
(764)
|
(2,685)
|
(3,956)
|
Indirect expenses
|
(1,076)
|
(229)
|
(1,309)
|
2,614
|
-
|
Other operating expenses
|
(1,457)
|
(355)
|
(2,073)
|
(71)
|
(3,956)
|
Litigation and conduct costs
|
(13)
|
(1)
|
(77)
|
(10)
|
(101)
|
Operating expenses
|
(1,470)
|
(356)
|
(2,150)
|
(81)
|
(4,057)
|
Operating profit before impairment
losses/releases
|
1,220
|
88
|
1,650
|
119
|
3,077
|
Impairment (losses)/releases
|
(122)
|
11
|
57
|
6
|
(48)
|
Operating profit
|
1,098
|
99
|
1,707
|
125
|
3,029
|
|
|
|
|
|
|
Income excluding notable items (1)
|
2,690
|
444
|
3,807
|
63
|
7,004
|
|
|
|
|
|
|
Additional information
|
|
|
|
|
|
Return on tangible equity (1)
|
na
|
na
|
na
|
na
|
16.4%
|
Return on equity (1)
|
18.4%
|
10.5%
|
16.2%
|
nm
|
na
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
54.2%
|
80.0%
|
54.6%
|
nm
|
55.5%
|
Total assets (£bn)
|
226.5
|
27.2
|
381.9
|
54.7
|
690.3
|
Funded assets (£bn) (1)
|
226.5
|
27.2
|
315.5
|
53.6
|
622.8
|
Net loans to customers - amortised cost (£bn)
|
203.3
|
18.1
|
133.9
|
24.0
|
379.3
|
Loan impairment rate (1)
|
12bps
|
(12)bps
|
(8)bps
|
nm
|
3bps
|
Impairment provisions (£bn)
|
(1.7)
|
(0.1)
|
(1.5)
|
-
|
(3.3)
|
Impairment provisions - Stage 3 (£bn)
|
(1.0)
|
-
|
(0.9)
|
(0.1)
|
(2.0)
|
Customer deposits (£bn)
|
191.5
|
39.5
|
194.2
|
7.8
|
433.0
|
Risk-weighted assets (RWAs) (£bn)
|
62.3
|
11.0
|
104.9
|
2.6
|
180.8
|
RWA equivalent (RWAe) (£bn)
|
63.1
|
11.0
|
106.7
|
3.1
|
183.9
|
Employee numbers (FTEs - thousands)
|
12.6
|
2.2
|
12.8
|
33.0
|
60.6
|
Third party customer asset rate (1)
|
3.88%
|
4.99%
|
6.77%
|
nm
|
nm
|
Third party customer funding rate (1)
|
(2.08%)
|
(3.14%)
|
(1.93%)
|
nm
|
nm
|
Average interest earning assets (£bn) (1)
|
220.1
|
26.3
|
244.0
|
na
|
524.4
|
Net interest margin (1)
|
2.26%
|
2.18%
|
2.10%
|
na
|
2.07%
|
|
Half year ended 30 June 2023
|
||||
|
Retail
|
Private
|
Commercial &
|
Central items
|
Total NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
Income statement
|
|
|
|
|
|
Net interest income
|
2,908
|
428
|
2,504
|
(114)
|
5,726
|
Own credit adjustments
|
-
|
-
|
9
|
-
|
9
|
Other non-interest income
|
212
|
139
|
1,235
|
406
|
1,992
|
Total income
|
3,120
|
567
|
3,748
|
292
|
7,727
|
Direct expenses
|
(398)
|
(118)
|
(741)
|
(2,550)
|
(3,807)
|
Indirect expenses
|
(945)
|
(193)
|
(1,152)
|
2,290
|
-
|
Other operating expenses
|
(1,343)
|
(311)
|
(1,893)
|
(260)
|
(3,807)
|
Litigation and conduct costs
|
(24)
|
(11)
|
(94)
|
21
|
(108)
|
Operating expenses
|
(1,367)
|
(322)
|
(1,987)
|
(239)
|
(3,915)
|
Operating profit before impairment
losses/releases
|
1,753
|
245
|
1,761
|
53
|
3,812
|
Impairment (losses)/releases
|
(193)
|
(11)
|
(20)
|
1
|
(223)
|
Operating profit
|
1,560
|
234
|
1,741
|
54
|
3,589
|
|
|
|
|
|
|
Income excluding notable items (1)
|
3,120
|
567
|
3,739
|
(43)
|
7,383
|
|
|
|
|
|
|
Additional information
|
|
|
|
|
|
Return on tangible equity (1)
|
na
|
na
|
na
|
na
|
18.2%
|
Return on equity (1)
|
29.1%
|
24.7%
|
16.9%
|
nm
|
na
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
43.0%
|
54.9%
|
50.5%
|
nm
|
49.3%
|
Total assets (£bn)
|
229.1
|
27.3
|
401.5
|
44.7
|
702.6
|
Funded assets (£bn) (1)
|
229.1
|
27.3
|
320.6
|
43.7
|
620.7
|
Net loans to customers - amortised cost (£bn)
|
204.4
|
19.1
|
129.2
|
21.2
|
373.9
|
Loan impairment rate (1)
|
19bps
|
11bps
|
3bps
|
nm
|
12bps
|
Impairment provisions (£bn)
|
(1.7)
|
(0.1)
|
(1.5)
|
(0.1)
|
(3.4)
|
Impairment provisions - Stage 3 (£bn)
|
(1.0)
|
-
|
(0.8)
|
(0.1)
|
(1.9)
|
Customer deposits (£bn)
|
183.1
|
36.5
|
201.5
|
11.4
|
432.5
|
Risk-weighted assets (RWAs) (£bn)
|
57.3
|
11.5
|
103.6
|
5.1
|
177.5
|
RWA equivalent (RWAe) (£bn)
|
57.3
|
11.5
|
104.9
|
5.8
|
179.5
|
Employee numbers (FTEs - thousands)
|
13.7
|
2.3
|
12.6
|
32.9
|
61.5
|
Third party customer asset rate (1)
|
3.03%
|
4.24%
|
5.61%
|
nm
|
nm
|
Third party customer funding rate (1)
|
(1.02%)
|
(1.43%)
|
(1.03%)
|
nm
|
nm
|
Average interest earning assets (£bn) (1)
|
220.9
|
27.6
|
244.6
|
na
|
518.4
|
Net interest margin (1)
|
2.65%
|
3.13%
|
2.06%
|
na
|
2.23%
|
|
Quarter ended 30 June 2024
|
||||
|
Retail
|
Private
|
Commercial &
|
Central items
|
Total NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
Income statement
|
|
|
|
|
|
Net interest income
|
1,259
|
151
|
1,297
|
50
|
2,757
|
Own credit adjustments
|
-
|
-
|
(2)
|
-
|
(2)
|
Other non-interest income
|
106
|
85
|
646
|
67
|
904
|
Total income
|
1,365
|
236
|
1,941
|
117
|
3,659
|
Direct expenses
|
(192)
|
(65)
|
(380)
|
(1,291)
|
(1,928)
|
Indirect expenses
|
(498)
|
(110)
|
(673)
|
1,281
|
-
|
Other operating expenses
|
(690)
|
(175)
|
(1,053)
|
(10)
|
(1,928)
|
Litigation and conduct costs
|
(7)
|
-
|
(46)
|
(24)
|
(77)
|
Operating expenses
|
(697)
|
(175)
|
(1,099)
|
(34)
|
(2,005)
|
Operating profit before impairment
losses/releases
|
668
|
61
|
842
|
83
|
1,654
|
Impairment (losses)/releases
|
(59)
|
5
|
96
|
3
|
45
|
Operating profit
|
609
|
66
|
938
|
86
|
1,699
|
|
|
|
|
|
|
Income excluding notable items (1)
|
1,365
|
236
|
1,943
|
46
|
3,590
|
|
|
|
|
|
|
Additional information
|
|
|
|
|
|
Return on tangible equity (1)
|
na
|
na
|
na
|
na
|
18.5%
|
Return on equity (1)
|
20.3%
|
14.4%
|
17.8%
|
nm
|
na
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
50.5%
|
74.2%
|
54.3%
|
nm
|
52.7%
|
Total assets (£bn)
|
226.5
|
27.2
|
381.9
|
54.7
|
690.3
|
Funded assets (£bn) (1)
|
226.5
|
27.2
|
315.5
|
53.6
|
622.8
|
Net loans to customers - amortised cost (£bn)
|
203.3
|
18.1
|
133.9
|
24.0
|
379.3
|
Loan impairment rate (1)
|
12bps
|
(11)bps
|
(28)bps
|
nm
|
(5)bps
|
Impairment provisions (£bn)
|
(1.7)
|
(0.1)
|
(1.5)
|
-
|
(3.3)
|
Impairment provisions - Stage 3 (£bn)
|
(1.0)
|
-
|
(0.9)
|
(0.1)
|
(2.0)
|
Customer deposits (£bn)
|
191.5
|
39.5
|
194.2
|
7.8
|
433.0
|
Risk-weighted assets (RWAs) (£bn)
|
62.3
|
11.0
|
104.9
|
2.6
|
180.8
|
RWA equivalent (RWAe) (£bn)
|
63.1
|
11.0
|
106.7
|
3.1
|
183.9
|
Employee numbers (FTEs - thousands)
|
12.6
|
2.2
|
12.8
|
33.0
|
60.6
|
Third party customer asset rate (1)
|
3.97%
|
5.01%
|
6.73%
|
nm
|
nm
|
Third party customer funding rate (1)
|
(2.10%)
|
(3.15%)
|
(1.93%)
|
nm
|
nm
|
Average interest earning assets (£bn) (1)
|
219.6
|
26.5
|
246.0
|
na
|
527.6
|
Net interest margin (1)
|
2.31%
|
2.30%
|
2.12%
|
na
|
2.10%
|
|
Quarter ended 31 March 2024
|
||||
|
Retail
|
Private
|
Commercial &
|
Central items
|
Total NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
Income statement
|
|
|
|
|
|
Net interest income
|
1,216
|
134
|
1,246
|
55
|
2,651
|
Own credit adjustments
|
-
|
-
|
(5)
|
-
|
(5)
|
Other non-interest income
|
109
|
74
|
618
|
28
|
829
|
Total income
|
1,325
|
208
|
1,859
|
83
|
3,475
|
Direct expenses
|
(189)
|
(61)
|
(384)
|
(1,394)
|
(2,028)
|
Indirect expenses
|
(578)
|
(119)
|
(636)
|
1,333
|
-
|
Other operating expenses
|
(767)
|
(180)
|
(1,020)
|
(61)
|
(2,028)
|
Litigation and conduct costs
|
(6)
|
(1)
|
(31)
|
14
|
(24)
|
Operating expenses
|
(773)
|
(181)
|
(1,051)
|
(47)
|
(2,052)
|
Operating profit before impairment
losses/releases
|
552
|
27
|
808
|
36
|
1,423
|
Impairment (losses)/releases
|
(63)
|
6
|
(39)
|
3
|
(93)
|
Operating profit
|
489
|
33
|
769
|
39
|
1,330
|
|
|
|
|
|
|
Income excluding notable items (1)
|
1,325
|
208
|
1,864
|
17
|
3,414
|
|
|
|
|
|
|
Additional information
|
|
|
|
|
|
Return on tangible equity (1)
|
na
|
na
|
na
|
na
|
14.2%
|
Return on equity (1)
|
16.5%
|
6.7%
|
14.6%
|
nm
|
na
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
57.9%
|
86.5%
|
54.9%
|
nm
|
58.4%
|
Total assets (£bn)
|
226.4
|
26.5
|
388.8
|
55.8
|
697.5
|
Funded assets (£bn) (1)
|
226.4
|
26.5
|
321.7
|
54.7
|
629.3
|
Net loans to customers - amortised cost (£bn)
|
203.5
|
18.2
|
135.3
|
21.0
|
378.0
|
Loan impairment rate (1)
|
12bps
|
(13)bps
|
11bps
|
nm
|
10bps
|
Impairment provisions (£bn)
|
(1.9)
|
(0.1)
|
(1.5)
|
(0.1)
|
(3.6)
|
Impairment provisions - Stage 3 (£bn)
|
(1.2)
|
-
|
(0.8)
|
-
|
(2.0)
|
Customer deposits (£bn)
|
190.0
|
37.8
|
192.2
|
12.8
|
432.8
|
Risk-weighted assets (RWAs) (£bn)
|
62.5
|
11.3
|
109.9
|
2.6
|
186.3
|
RWA equivalent (RWAe) (£bn)
|
62.6
|
11.3
|
111.1
|
3.1
|
188.1
|
Employee numbers (FTEs - thousands)
|
13.1
|
2.2
|
12.7
|
33.3
|
61.3
|
Third party customer asset rate (1)
|
3.79%
|
4.97%
|
6.81%
|
nm
|
nm
|
Third party customer funding rate (1)
|
(2.05%)
|
(3.14%)
|
(1.93%)
|
nm
|
nm
|
Average interest earning assets (£bn) (1)
|
220.6
|
26.2
|
241.9
|
na
|
521.1
|
Net interest margin (1)
|
2.22%
|
2.06%
|
2.07%
|
na
|
2.05%
|
|
Quarter ended 30 June 2023
|
||||
|
Retail
|
Private
|
Commercial &
|
Central items
|
Total NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Group
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Continuing operations
|
|
|
|
|
|
Income statement
|
|
|
|
|
|
Net interest income
|
1,416
|
199
|
1,243
|
(34)
|
2,824
|
Own credit adjustments
|
-
|
-
|
3
|
-
|
3
|
Other non-interest income
|
100
|
72
|
549
|
303
|
1,024
|
Total income
|
1,516
|
271
|
1,795
|
269
|
3,851
|
Direct expenses
|
(187)
|
(58)
|
(381)
|
(1,249)
|
(1,875)
|
Indirect expenses
|
(463)
|
(101)
|
(553)
|
1,117
|
-
|
Other operating expenses
|
(650)
|
(159)
|
(934)
|
(132)
|
(1,875)
|
Litigation and conduct costs
|
(21)
|
(8)
|
(50)
|
27
|
(52)
|
Operating expenses
|
(671)
|
(167)
|
(984)
|
(105)
|
(1,927)
|
Operating profit before impairment losses
|
845
|
104
|
811
|
164
|
1,924
|
Impairment losses
|
(79)
|
(3)
|
(64)
|
(7)
|
(153)
|
Operating profit
|
766
|
101
|
747
|
157
|
1,771
|
|
|
|
|
|
|
Income excluding notable items (1)
|
1,516
|
271
|
1,792
|
(16)
|
3,563
|
|
|
|
|
|
|
Additional information
|
|
|
|
|
|
Return on tangible equity (1)
|
na
|
na
|
na
|
na
|
16.4%
|
Return on equity (1)
|
28.2%
|
20.8%
|
14.3%
|
nm
|
na
|
Cost:income ratio (excl. litigation and
conduct) (1)
|
42.9%
|
58.7%
|
52.0%
|
nm
|
48.7%
|
Total assets (£bn)
|
229.1
|
27.3
|
401.5
|
44.7
|
702.6
|
Funded assets (£bn) (1)
|
229.1
|
27.3
|
320.6
|
43.7
|
620.7
|
Net loans to customers - amortised cost (£bn)
|
204.4
|
19.1
|
129.2
|
21.2
|
373.9
|
Loan impairment rate (1)
|
15bps
|
6bps
|
20bps
|
nm
|
16bps
|
Impairment provisions (£bn)
|
(1.7)
|
(0.1)
|
(1.5)
|
(0.1)
|
(3.4)
|
Impairment provisions - Stage 3 (£bn)
|
(1.0)
|
-
|
(0.8)
|
(0.1)
|
(1.9)
|
Customer deposits (£bn)
|
183.1
|
36.5
|
201.5
|
11.4
|
432.5
|
Risk-weighted assets (RWAs) (£bn)
|
57.3
|
11.5
|
103.6
|
5.1
|
177.5
|
RWA equivalent (RWAe) (£bn)
|
57.3
|
11.5
|
104.9
|
5.8
|
179.5
|
Employee numbers (FTEs - thousands)
|
13.7
|
2.3
|
12.6
|
32.9
|
61.5
|
Third party customer asset rate (1)
|
3.11%
|
4.41%
|
5.84%
|
nm
|
nm
|
Third party customer funding rate (1)
|
(1.20%)
|
(1.71%)
|
(1.18%)
|
nm
|
nm
|
Average interest earning assets (£bn) (1)
|
221.5
|
27.1
|
243.2
|
na
|
514.5
|
Net interest margin (1)
|
2.56%
|
2.94%
|
2.05%
|
na
|
2.20%
|
|
|
UK Personal mortgages
|
Unemployment rate, sterling swap rate, house price index, real
wage
|
UK Personal unsecured
|
Unemployment rate, sterling swap rate, real wage
|
UK corporates
|
Stock price index, gross domestic product (GDP)
|
UK commercial real estate
|
Stock price index, commercial property price index,
GDP
|
Main macroeconomic variables
|
30 June 2024
|
|
31 December 2023
|
||||||||
|
|
|
|
Extreme
|
Weighted
|
|
|
|
|
Extreme
|
Weighted
|
|
Upside
|
Base case
|
Downside
|
downside
|
average
|
|
Upside
|
Base case
|
Downside
|
downside
|
average
|
Five-year summary
|
%
|
%
|
%
|
%
|
%
|
|
%
|
%
|
%
|
%
|
%
|
GDP
|
1.9
|
1.2
|
0.6
|
(0.2)
|
1.1
|
|
1.8
|
1.0
|
0.5
|
(0.3)
|
0.9
|
Unemployment rate
|
3.5
|
4.3
|
5.4
|
7.1
|
4.7
|
|
3.5
|
4.6
|
5.2
|
6.8
|
4.8
|
House price index
|
5.3
|
3.3
|
1.0
|
(4.2)
|
2.5
|
|
3.9
|
0.3
|
(0.4)
|
(5.7)
|
0.3
|
Commercial real estate price
|
4.4
|
1.2
|
(0.7)
|
(5.1)
|
0.8
|
|
3.1
|
(0.2)
|
(2.0)
|
(6.8)
|
(0.6)
|
Consumer price index
|
1.1
|
2.1
|
4.8
|
1.3
|
2.3
|
|
1.7
|
2.6
|
5.2
|
1.8
|
2.8
|
Bank of England base rate
|
3.3
|
3.7
|
5.7
|
2.6
|
3.8
|
|
3.8
|
3.7
|
5.6
|
2.9
|
4.0
|
Stock price index
|
4.7
|
3.3
|
1.3
|
0.2
|
2.8
|
|
4.8
|
3.3
|
1.2
|
(0.4)
|
2.8
|
World GDP
|
3.7
|
3.1
|
2.7
|
1.8
|
3.0
|
|
3.7
|
3.2
|
2.7
|
1.8
|
3.0
|
Probability weight
|
22.0
|
45.0
|
19.4
|
13.6
|
|
|
21.2
|
45.0
|
20.4
|
13.4
|
|
|
|
|
|
Extreme
|
Weighted
|
|
Upside
|
Base case
|
Downside
|
downside
|
average
|
GDP - annual growth
|
%
|
%
|
%
|
%
|
%
|
2024
|
1.7
|
0.7
|
0.1
|
-
|
0.7
|
2025
|
3.9
|
1.2
|
(0.9)
|
(4.0)
|
0.7
|
2026
|
1.4
|
1.4
|
1.1
|
0.9
|
1.3
|
2027
|
1.2
|
1.4
|
1.3
|
1.2
|
1.3
|
2028
|
1.2
|
1.4
|
1.3
|
1.2
|
1.3
|
2029
|
1.3
|
1.4
|
1.3
|
1.3
|
1.3
|
|
|
|
|
|
|
Unemployment rate
|
|
|
|
|
|
- annual average
|
|
|
|
|
|
2024
|
4.2
|
4.4
|
4.6
|
4.8
|
4.4
|
2025
|
3.4
|
4.4
|
5.7
|
7.8
|
4.9
|
2026
|
3.2
|
4.3
|
5.7
|
8.3
|
4.9
|
2027
|
3.3
|
4.3
|
5.5
|
7.7
|
4.7
|
2028
|
3.3
|
4.2
|
5.4
|
7.1
|
4.6
|
2029
|
3.3
|
4.2
|
5.3
|
6.8
|
4.6
|
|
|
|
|
|
|
House price index
|
|
|
|
|
|
- four quarter change
|
|
|
|
|
|
2024
|
6.8
|
3.1
|
(1.2)
|
(3.3)
|
2.2
|
2025
|
8.9
|
3.1
|
(6.0)
|
(13.2)
|
0.6
|
2026
|
4.5
|
3.4
|
1.0
|
(14.5)
|
1.3
|
2027
|
3.1
|
3.4
|
6.6
|
5.4
|
4.1
|
2028
|
3.5
|
3.4
|
5.2
|
6.8
|
4.1
|
2029
|
3.4
|
3.4
|
3.4
|
3.4
|
3.4
|
|
|
|
|
|
|
Commercial real estate price
|
|
|
|
|
|
- four quarter change
|
|
|
|
|
|
2024
|
6.2
|
(1.3)
|
(4.2)
|
(7.7)
|
(1.1)
|
2025
|
5.5
|
1.7
|
(8.0)
|
(30.8)
|
(3.4)
|
2026
|
4.6
|
2.0
|
3.1
|
3.3
|
3.0
|
2027
|
3.8
|
2.2
|
3.4
|
7.8
|
3.3
|
2028
|
1.8
|
1.5
|
3.0
|
8.5
|
2.5
|
2029
|
1.4
|
1.4
|
1.4
|
1.4
|
1.4
|
|
|
|
|
Extreme
|
Weighted
|
Consumer price index
|
Upside
|
Base case
|
Downside
|
downside
|
average
|
- four quarter change
|
%
|
%
|
%
|
%
|
%
|
2024
|
1.4
|
2.1
|
5.7
|
0.1
|
2.4
|
2025
|
0.5
|
2.1
|
6.7
|
0.5
|
2.5
|
2026
|
1.3
|
2.0
|
4.4
|
2.0
|
2.4
|
2027
|
1.2
|
2.0
|
3.8
|
2.0
|
2.2
|
2028
|
1.1
|
2.0
|
3.7
|
2.0
|
2.2
|
2029
|
2.0
|
2.0
|
2.0
|
2.0
|
2.0
|
|
|
|
|
|
|
Bank of England base rate
|
|
|
|
|
|
- annual average
|
|
|
|
|
|
2024
|
4.83
|
5.10
|
5.50
|
4.69
|
5.06
|
2025
|
3.46
|
4.06
|
6.35
|
2.38
|
4.14
|
2026
|
2.85
|
3.08
|
5.83
|
2.00
|
3.42
|
2027
|
2.75
|
3.00
|
5.50
|
2.00
|
3.29
|
2028
|
2.75
|
3.00
|
5.19
|
2.06
|
3.24
|
2029
|
2.75
|
3.00
|
5.00
|
2.25
|
3.23
|
|
|
|
|
|
|
Stock price index
|
|
|
|
|
|
- four quarter change
|
|
|
|
|
|
2024
|
6.8
|
3.3
|
(11.0)
|
(27.7)
|
(2.9)
|
2025
|
5.7
|
3.3
|
(1.5)
|
(7.4)
|
1.9
|
2026
|
4.1
|
3.3
|
8.6
|
21.2
|
6.0
|
2027
|
3.6
|
3.3
|
6.5
|
12.9
|
4.9
|
2028
|
3.2
|
3.3
|
5.3
|
10.2
|
4.4
|
2029
|
3.3
|
3.3
|
3.3
|
3.3
|
3.3
|
|
|
|
Extreme
|
|
Weighted
|
|
Downside
|
|
downside
|
|
average
|
30 June 2024
|
%
|
Quarter
|
%
|
Quarter
|
%
|
GDP
|
(0.9)
|
Q1 2025
|
(4.2)
|
Q2 2025
|
0.6
|
Unemployment rate - peak
|
5.8
|
Q3 2025
|
8.5
|
Q4 2025
|
5.0
|
House price index
|
(8.0)
|
Q2 2026
|
(28.2)
|
Q4 2026
|
1.1
|
Commercial real estate price
|
(11.9)
|
Q3 2025
|
(36.5)
|
Q1 2026
|
(4.4)
|
Consumer price index
|
|
|
|
|
|
- highest four quarter change
|
8.5
|
Q2 2025
|
3.5
|
Q1 2024
|
3.5
|
Bank of England base rate
|
|
|
|
|
|
- extreme level
|
6.5
|
Q2 2025
|
5.3
|
Q1 2024
|
5.3
|
Stock price index
|
(16.0)
|
Q2 2025
|
(40.5)
|
Q2 2025
|
(4.2)
|
|
|
||||
31 December 2023
|
|
|
|
|
|
GDP
|
(1.2)
|
Q3 2024
|
(4.5)
|
Q4 2024
|
0.3
|
Unemployment rate - peak
|
5.8
|
Q1 2025
|
8.5
|
Q2 2025
|
5.2
|
House price index
|
(12.5)
|
Q4 2025
|
(31.7)
|
Q2 2026
|
(6.5)
|
Commercial real estate price
|
(16.6)
|
Q1 2025
|
(39.9)
|
Q3 2025
|
(10.2)
|
Consumer price index
|
|
|
|
|
|
- highest four quarter change
|
10.3
|
Q1 2023
|
10.3
|
Q1 2023
|
10.3
|
Bank of England base rate
|
|
|
|
|
|
- extreme level
|
6.5
|
Q4 2024
|
5.3
|
Q4 2023
|
5.3
|
Stock price index
|
(14.3)
|
Q4 2024
|
(39.3)
|
Q4 2024
|
(2.4)
|
|
Retail Banking
|
|
Private
|
Commercial &
|
Central items
|
|
|
|
Mortgages
|
Other
|
|
Banking
|
Institutional
|
& other
|
Total
|
30 June 2024
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Deferred model calibrations
|
-
|
-
|
|
1
|
16
|
-
|
17
|
Economic uncertainty
|
79
|
43
|
|
8
|
168
|
4
|
302
|
Other adjustments
|
-
|
-
|
|
-
|
3
|
-
|
3
|
Total
|
79
|
43
|
|
9
|
187
|
4
|
322
|
|
|
|
|
|
|
|
|
Of which:
|
|
|
|
|
|
|
|
- Stage 1
|
36
|
18
|
|
5
|
78
|
4
|
141
|
- Stage 2
|
33
|
25
|
|
4
|
107
|
-
|
169
|
- Stage 3
|
10
|
-
|
|
-
|
2
|
-
|
12
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
Deferred model calibrations
|
-
|
-
|
|
1
|
23
|
-
|
24
|
Economic uncertainty
|
118
|
39
|
|
13
|
256
|
3
|
429
|
Other adjustments
|
1
|
-
|
|
-
|
8
|
23
|
32
|
Total
|
119
|
39
|
|
14
|
287
|
26
|
485
|
Of which:
|
|
|
|
|
|
|
|
- Stage 1
|
75
|
14
|
|
6
|
115
|
10
|
220
|
- Stage 2
|
31
|
25
|
|
8
|
167
|
9
|
240
|
- Stage 3
|
13
|
-
|
|
-
|
5
|
7
|
25
|
|
|
|
Moderate
|
Moderate
|
Extreme
|
|
|
Base
|
upside
|
downside
|
downside
|
30 June 2024
|
Actual
|
scenario
|
scenario
|
scenario
|
scenario
|
Stage 1 modelled loans (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
166,944
|
167,405
|
167,829
|
164,061
|
157,458
|
Retail Banking - unsecured
|
9,941
|
10,025
|
10,142
|
9,696
|
9,019
|
Wholesale - property
|
27,589
|
27,635
|
27,769
|
27,277
|
23,732
|
Wholesale - non-property
|
130,655
|
131,355
|
131,829
|
128,798
|
109,550
|
|
335,129
|
336,420
|
337,569
|
329,832
|
299,759
|
Stage 1 modelled ECL (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
47
|
45
|
44
|
46
|
44
|
Retail Banking - unsecured
|
228
|
219
|
202
|
250
|
243
|
Wholesale - property
|
73
|
54
|
41
|
99
|
148
|
Wholesale - non-property
|
219
|
189
|
158
|
268
|
337
|
|
567
|
507
|
445
|
663
|
772
|
Stage 1 coverage
|
|
|
|
|
|
Retail Banking - mortgages
|
0.03%
|
0.03%
|
0.03%
|
0.03%
|
0.03%
|
Retail Banking - unsecured
|
2.29%
|
2.18%
|
1.99%
|
2.58%
|
2.69%
|
Wholesale - property
|
0.26%
|
0.20%
|
0.15%
|
0.36%
|
0.62%
|
Wholesale - non-property
|
0.17%
|
0.14%
|
0.12%
|
0.21%
|
0.31%
|
|
0.17%
|
0.15%
|
0.13%
|
0.20%
|
0.26%
|
Stage 2 modelled loans (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
20,315
|
19,854
|
19,430
|
23,198
|
29,801
|
Retail Banking - unsecured
|
3,097
|
3,013
|
2,896
|
3,342
|
4,019
|
Wholesale - property
|
3,052
|
3,006
|
2,872
|
3,364
|
6,909
|
Wholesale - non-property
|
10,983
|
10,283
|
9,809
|
12,840
|
32,088
|
|
37,447
|
36,156
|
35,007
|
42,744
|
72,817
|
Stage 2 modelled ECL (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
68
|
61
|
55
|
82
|
123
|
Retail Banking - unsecured
|
390
|
361
|
315
|
455
|
596
|
Wholesale - property
|
64
|
56
|
49
|
80
|
186
|
Wholesale - non-property
|
269
|
233
|
202
|
343
|
641
|
|
791
|
711
|
621
|
960
|
1,546
|
Stage 2 coverage
|
|
|
|
|
|
Retail Banking - mortgages
|
0.33%
|
0.31%
|
0.28%
|
0.35%
|
0.41%
|
Retail Banking - unsecured
|
12.59%
|
11.98%
|
10.88%
|
13.61%
|
14.83%
|
Wholesale - property
|
2.10%
|
1.86%
|
1.71%
|
2.38%
|
2.69%
|
Wholesale - non-property
|
2.45%
|
2.27%
|
2.06%
|
2.67%
|
2.00%
|
|
2.11%
|
1.97%
|
1.77%
|
2.25%
|
2.12%
|
Stage 1 and Stage 2 modelled loans (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
187,259
|
187,259
|
187,259
|
187,259
|
187,259
|
Retail Banking - unsecured
|
13,038
|
13,038
|
13,038
|
13,038
|
13,038
|
Wholesale - property
|
30,641
|
30,641
|
30,641
|
30,641
|
30,641
|
Wholesale - non-property
|
141,638
|
141,638
|
141,638
|
141,638
|
141,638
|
|
372,576
|
372,576
|
372,576
|
372,576
|
372,576
|
|
|
|
Moderate
|
Moderate
|
Extreme
|
|
|
Base
|
upside
|
downside
|
downside
|
30 June 2024
|
Actual
|
scenario
|
scenario
|
scenario
|
scenario
|
Stage 1 and Stage 2 modelled ECL (£m)
|
|
|
|
|
|
Retail Banking - mortgages
|
115
|
106
|
99
|
128
|
167
|
Retail Banking - unsecured
|
618
|
580
|
517
|
705
|
839
|
Wholesale - property
|
137
|
110
|
90
|
179
|
334
|
Wholesale - non-property
|
488
|
422
|
360
|
611
|
978
|
|
1,358
|
1,218
|
1,066
|
1,623
|
2,318
|
Stage 1 and Stage 2 coverage
|
|
|
|
|
|
Retail Banking - mortgages
|
0.06%
|
0.06%
|
0.05%
|
0.07%
|
0.09%
|
Retail Banking - unsecured
|
4.74%
|
4.45%
|
3.97%
|
5.41%
|
6.44%
|
Wholesale - property
|
0.45%
|
0.36%
|
0.29%
|
0.58%
|
1.09%
|
Wholesale - non-property
|
0.34%
|
0.30%
|
0.25%
|
0.43%
|
0.69%
|
|
0.36%
|
0.33%
|
0.29%
|
0.44%
|
0.62%
|
Reconciliation to Stage 1 and
|
|
|
|
|
|
Stage 2 ECL (£m)
|
|
|
|
|
|
ECL on modelled exposures
|
1,358
|
1,218
|
1,066
|
1,623
|
2,318
|
ECL on UBIDAC modelled exposures
|
-
|
-
|
-
|
-
|
-
|
ECL on non-modelled exposures
|
29
|
29
|
29
|
29
|
29
|
|
|
|
|
|
|
Total Stage 1 and Stage 2 ECL (£m)
|
1,387
|
1,247
|
1,095
|
1,652
|
2,347
|
Variance to actual total Stage 1 and
|
|
|
|
|
|
Stage 2 ECL (£m)
|
|
(140)
|
(292)
|
265
|
960
|
|
|
|
|
|
|
Reconciliation to Stage 1 and
|
|
|
|
|
|
Stage 2 flow exposure (£m)
|
|
|
|
|
|
Modelled loans
|
372,576
|
372,576
|
372,576
|
372,576
|
372,576
|
UBIDAC loans
|
69
|
69
|
69
|
69
|
69
|
Non-modelled loans
|
18,881
|
18,881
|
18,881
|
18,881
|
18,881
|
Other asset classes
|
145,136
|
145,136
|
145,136
|
145,136
|
145,136
|
|
ECL provision
|
|
£m
|
At 1 January 2024
|
3,645
|
Transfers to disposal groups and reclassifications
|
(18)
|
Changes in economic forecasts
|
(17)
|
Changes in risk metrics and exposure: Stage 1 and Stage
2
|
(147)
|
Changes in risk metrics and exposure: Stage 3
|
370
|
Judgemental changes: changes in post model adjustments for Stage
1,
|
|
Stage 2 and Stage 3
|
(140)
|
Write-offs and other
|
(350)
|
At 30 June 2024
|
3,343
|
|
30 June 2024
|
|
31 December 2023
|
||||
|
Gross
|
ECL
|
Net
|
|
Gross
|
ECL
|
Net
|
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
Balance sheet total gross amortised cost and FVOCI
|
562.6
|
|
|
|
553.8
|
|
|
In scope of IFRS 9 ECL framework
|
555.1
|
|
|
|
545.3
|
|
|
% in scope
|
99%
|
|
|
|
98%
|
|
|
Loans to customers - in scope - amortised cost
|
383.1
|
3.2
|
379.9
|
|
385.3
|
3.6
|
381.7
|
Loans to customers - in scope - FVOCI
|
0.1
|
-
|
0.1
|
|
0.1
|
-
|
0.1
|
Loans to banks - in scope - amortised cost
|
5.7
|
-
|
5.7
|
|
6.7
|
-
|
6.7
|
Total loans - in scope
|
388.9
|
3.2
|
385.7
|
|
392.1
|
3.6
|
388.5
|
Stage 1
|
345.8
|
0.5
|
345.3
|
|
348.6
|
0.7
|
347.9
|
Stage 2
|
37.3
|
0.8
|
36.5
|
|
37.9
|
0.9
|
37.0
|
Stage 3
|
5.8
|
1.9
|
3.9
|
|
5.6
|
2.0
|
3.6
|
Other financial assets - in scope - amortised cost
|
138.5
|
-
|
138.5
|
|
124.9
|
-
|
124.9
|
Other financial assets - in scope - FVOCI
|
27.7
|
-
|
27.7
|
|
28.3
|
-
|
28.3
|
Total other financial assets - in scope
|
166.2
|
-
|
166.2
|
|
153.2
|
-
|
153.2
|
Stage 1
|
165.6
|
-
|
165.6
|
|
152.0
|
-
|
152.0
|
Stage 2
|
0.6
|
-
|
0.6
|
|
1.2
|
-
|
1.2
|
Out of scope of IFRS 9 ECL framework
|
7.5
|
na
|
7.5
|
|
8.5
|
na
|
8.5
|
Loans to customers - out of scope - amortised cost
|
(0.6)
|
na
|
(0.6)
|
|
(0.4)
|
na
|
(0.4)
|
Loans to banks - out of scope - amortised cost
|
0.3
|
na
|
0.3
|
|
0.3
|
na
|
0.3
|
Other financial assets - out of scope - amortised cost
|
7.5
|
na
|
7.5
|
|
8.3
|
na
|
8.3
|
Other financial assets - out of scope - FVOCI
|
0.3
|
na
|
0.3
|
|
0.3
|
na
|
0.3
|
|
Retail
|
Private
|
Commercial &
|
Central items
|
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
Loans - amortised cost and FVOCI (1,2)
|
|
|
|
|
|
Stage 1
|
178,508
|
17,209
|
123,433
|
26,697
|
345,847
|
Stage 2
|
23,091
|
744
|
13,453
|
-
|
37,288
|
Stage 3
|
3,205
|
294
|
2,313
|
-
|
5,812
|
Of which: individual
|
-
|
252
|
964
|
-
|
1,216
|
Of which: collective
|
3,205
|
42
|
1,349
|
-
|
4,596
|
Subtotal excluding disposal group loans
|
204,804
|
18,247
|
139,199
|
26,697
|
388,947
|
Disposal group loans
|
|
|
|
-
|
-
|
Total
|
|
|
|
26,697
|
388,947
|
ECL provisions (3)
|
|
|
|
|
|
Stage 1
|
275
|
16
|
275
|
19
|
585
|
Stage 2
|
456
|
11
|
334
|
1
|
802
|
Stage 3
|
1,026
|
38
|
892
|
-
|
1,956
|
Of which: individual
|
-
|
38
|
328
|
-
|
366
|
Of which: collective
|
1,026
|
-
|
564
|
-
|
1,590
|
Subtotal excluding ECL provisions on disposal group
loans
|
1,757
|
65
|
1,501
|
20
|
3,343
|
ECL provisions on disposal group loans
|
|
|
|
-
|
-
|
Total
|
|
|
|
20
|
3,343
|
ECL provisions coverage (4)
|
|
|
|
|
|
Stage 1 (%)
|
0.15
|
0.09
|
0.22
|
0.07
|
0.17
|
Stage 2 (%)
|
1.97
|
1.48
|
2.48
|
nm
|
2.15
|
Stage 3 (%)
|
32.01
|
12.93
|
38.56
|
-
|
33.65
|
ECL provisions coverage excluding disposal group loans
|
0.86
|
0.36
|
1.08
|
0.07
|
0.86
|
ECL provisions coverage on disposal group loans
|
-
|
-
|
-
|
-
|
-
|
Total
|
-
|
-
|
-
|
0.07
|
0.86
|
Impairment (releases)/losses
|
|
|
|
|
|
ECL charge/(release) (5)
|
122
|
(11)
|
(57)
|
(6)
|
48
|
Stage 1
|
(166)
|
(9)
|
(182)
|
(7)
|
(364)
|
Stage 2
|
178
|
(3)
|
14
|
1
|
190
|
Stage 3
|
110
|
1
|
111
|
-
|
222
|
Of which: individual
|
-
|
1
|
79
|
-
|
80
|
Of which: collective
|
110
|
-
|
32
|
-
|
142
|
Continuing operations
|
122
|
(11)
|
(57)
|
(6)
|
48
|
Discontinued operations
|
|
|
|
-
|
-
|
Total
|
|
|
|
(6)
|
48
|
Amounts written-off
|
270
|
-
|
99
|
-
|
369
|
Of which: individual
|
-
|
-
|
64
|
-
|
64
|
Of which: collective
|
270
|
-
|
35
|
-
|
305
|
|
Retail
|
Private
|
Commercial &
|
Central items
|
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
£m
|
Loans - amortised cost and FVOCI (1,2)
|
|
|
|
|
|
Stage 1
|
182,297
|
17,565
|
119,047
|
29,677
|
348,586
|
Stage 2
|
21,208
|
906
|
15,771
|
6
|
37,891
|
Stage 3
|
3,133
|
258
|
2,162
|
10
|
5,563
|
Of which: individual
|
-
|
186
|
845
|
-
|
1,031
|
Of which: collective
|
3,133
|
72
|
1,317
|
10
|
4,532
|
Subtotal excluding disposal group loans
|
206,638
|
18,729
|
136,980
|
29,693
|
392,040
|
Disposal group loans
|
|
|
|
67
|
67
|
Total
|
|
|
|
29,760
|
392,107
|
ECL provisions (3)
|
|
|
|
|
|
Stage 1
|
306
|
20
|
356
|
27
|
709
|
Stage 2
|
502
|
20
|
447
|
7
|
976
|
Stage 3
|
1,097
|
34
|
819
|
10
|
1,960
|
Of which: individual
|
-
|
34
|
298
|
-
|
332
|
Of which: collective
|
1,097
|
-
|
521
|
10
|
1,628
|
Subtotal excluding ECL provisions on disposal group
loans
|
1,905
|
74
|
1,622
|
44
|
3,645
|
ECL provisions on disposal group loans
|
|
|
|
36
|
36
|
Total
|
|
|
|
80
|
3,681
|
ECL provisions coverage (4)
|
|
|
|
|
|
Stage 1 (%)
|
0.17
|
0.11
|
0.30
|
0.09
|
0.20
|
Stage 2 (%)
|
2.37
|
2.21
|
2.83
|
nm
|
2.58
|
Stage 3 (%)
|
35.01
|
13.18
|
37.88
|
100.00
|
35.23
|
ECL provisions coverage excluding disposal group loans
|
0.92
|
0.40
|
1.18
|
0.15
|
0.93
|
ECL provisions coverage on disposal group loans
|
|
|
|
53.73
|
53.73
|
Total
|
|
|
|
0.27
|
0.94
|
Half year ended 30 June 2023
|
|
|
|
|
|
Impairment (releases)/losses
|
|
|
|
|
|
ECL (release)/charge (5)
|
193
|
11
|
20
|
(1)
|
223
|
Stage 1
|
(88)
|
(1)
|
(124)
|
4
|
(209)
|
Stage 2
|
188
|
8
|
98
|
2
|
296
|
Stage 3
|
93
|
4
|
46
|
(7)
|
136
|
Of which: individual
|
-
|
4
|
13
|
(4)
|
13
|
Of which: collective
|
93
|
-
|
33
|
(3)
|
123
|
Continuing operations
|
193
|
11
|
20
|
(1)
|
223
|
Discontinued operations
|
|
|
|
(1)
|
(1)
|
Total
|
|
|
|
(2)
|
222
|
Amounts written-off
|
63
|
1
|
50
|
8
|
122
|
Of which: individual
|
-
|
1
|
19
|
2
|
22
|
Of which: collective
|
63
|
-
|
31
|
6
|
100
|
|
Gross loans
|
|
ECL provisions (2)
|
||||||||||||
|
|
Stage 2 (1)
|
|
|
|
|
Stage 2 (1)
|
|
|
||||||
|
|
Not past
|
1-30
|
>30
|
|
|
|
|
|
Not past
|
1-30
|
>30
|
|
|
|
|
Stage 1
|
due
|
DPD
|
DPD
|
Total
|
Stage 3
|
Total
|
|
Stage 1
|
due
|
DPD
|
DPD
|
Total
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
Retail Banking
|
178,508
|
21,836
|
816
|
439
|
23,091
|
3,205
|
204,804
|
|
275
|
398
|
15
|
43
|
456
|
1,026
|
1,757
|
Private Banking
|
17,209
|
653
|
45
|
46
|
744
|
294
|
18,247
|
|
16
|
11
|
-
|
-
|
11
|
38
|
65
|
Personal
|
13,865
|
160
|
45
|
30
|
235
|
210
|
14,310
|
|
3
|
1
|
-
|
-
|
1
|
23
|
27
|
Wholesale
|
3,344
|
493
|
-
|
16
|
509
|
84
|
3,937
|
|
13
|
10
|
-
|
-
|
10
|
15
|
38
|
Commercial & Institutional
|
123,433
|
12,475
|
649
|
329
|
13,453
|
2,313
|
139,199
|
|
275
|
302
|
21
|
11
|
334
|
892
|
1,501
|
Personal
|
2,238
|
12
|
24
|
10
|
46
|
46
|
2,330
|
|
2
|
-
|
-
|
-
|
-
|
14
|
16
|
Wholesale
|
121,195
|
12,463
|
625
|
319
|
13,407
|
2,267
|
136,869
|
|
273
|
302
|
21
|
11
|
334
|
878
|
1,485
|
Central items & other
|
26,697
|
-
|
-
|
-
|
-
|
-
|
26,697
|
|
19
|
1
|
-
|
-
|
1
|
-
|
20
|
Personal
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Wholesale
|
26,697
|
-
|
-
|
-
|
-
|
-
|
26,697
|
|
19
|
1
|
-
|
-
|
1
|
-
|
20
|
Total loans
|
345,847
|
34,964
|
1,510
|
814
|
37,288
|
5,812
|
388,947
|
|
585
|
712
|
36
|
54
|
802
|
1,956
|
3,343
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal
|
194,611
|
22,008
|
885
|
479
|
23,372
|
3,461
|
221,444
|
|
280
|
399
|
15
|
43
|
457
|
1,063
|
1,800
|
Wholesale
|
151,236
|
12,956
|
625
|
335
|
13,916
|
2,351
|
167,503
|
|
305
|
313
|
21
|
11
|
345
|
893
|
1,543
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail Banking
|
182,297
|
20,128
|
738
|
342
|
21,208
|
3,133
|
206,638
|
|
306
|
453
|
15
|
34
|
502
|
1,097
|
1,905
|
Private Banking
|
17,565
|
772
|
77
|
57
|
906
|
258
|
18,729
|
|
20
|
18
|
1
|
1
|
20
|
34
|
74
|
Personal
|
14,296
|
158
|
73
|
24
|
255
|
209
|
14,760
|
|
3
|
2
|
-
|
-
|
2
|
20
|
25
|
Wholesale
|
3,269
|
614
|
4
|
33
|
651
|
49
|
3,969
|
|
17
|
16
|
1
|
1
|
18
|
14
|
49
|
Commercial & Institutional
|
119,047
|
14,689
|
657
|
425
|
15,771
|
2,162
|
136,980
|
|
356
|
415
|
21
|
11
|
447
|
819
|
1,622
|
Personal
|
2,268
|
15
|
21
|
7
|
43
|
52
|
2,363
|
|
2
|
-
|
-
|
-
|
-
|
16
|
18
|
Wholesale
|
116,779
|
14,674
|
636
|
418
|
15,728
|
2,110
|
134,617
|
|
354
|
415
|
21
|
11
|
447
|
803
|
1,604
|
Central items & other
|
29,677
|
5
|
-
|
1
|
6
|
10
|
29,693
|
|
27
|
6
|
-
|
1
|
7
|
10
|
44
|
Personal
|
4
|
2
|
-
|
1
|
3
|
6
|
13
|
|
5
|
1
|
-
|
1
|
2
|
9
|
16
|
Wholesale
|
29,673
|
3
|
-
|
-
|
3
|
4
|
29,680
|
|
22
|
5
|
-
|
-
|
5
|
1
|
28
|
Total loans
|
348,586
|
35,594
|
1,472
|
825
|
37,891
|
5,563
|
392,040
|
|
709
|
892
|
37
|
47
|
976
|
1,960
|
3,645
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal
|
198,865
|
20,303
|
832
|
374
|
21,509
|
3,400
|
223,774
|
|
316
|
456
|
15
|
35
|
506
|
1,142
|
1,964
|
Wholesale
|
149,721
|
15,291
|
640
|
451
|
16,382
|
2,163
|
168,266
|
|
393
|
436
|
22
|
12
|
470
|
818
|
1,681
|
|
ECL provisions coverage
|
Half year ended 30 June 2024
|
|||||||
|
|
Stage 2 (1,2)
|
|
|
ECL
|
||||
|
|
Not past
|
|
|
|
|
|
Total
|
Amounts
|
|
Stage 1
|
due
|
1-30 DPD
|
>30 DPD
|
Total
|
Stage 3
|
Total
|
(release)/charge
|
written-off
|
30 June 2024
|
%
|
%
|
%
|
%
|
%
|
%
|
%
|
£m
|
£m
|
Retail Banking
|
0.15
|
1.82
|
1.84
|
9.79
|
1.97
|
32.01
|
0.86
|
122
|
270
|
Private Banking
|
0.09
|
1.68
|
-
|
-
|
1.48
|
12.93
|
0.36
|
(11)
|
-
|
Personal
|
0.02
|
0.63
|
-
|
-
|
0.43
|
10.95
|
0.19
|
1
|
-
|
Wholesale
|
0.39
|
2.03
|
-
|
-
|
1.96
|
17.86
|
0.97
|
(12)
|
-
|
Commercial &
|
|
|
|
|
|
|
|
|
|
Institutional
|
0.22
|
2.42
|
3.24
|
3.34
|
2.48
|
38.56
|
1.08
|
(57)
|
99
|
Personal
|
0.09
|
-
|
-
|
-
|
-
|
30.43
|
0.69
|
-
|
1
|
Wholesale
|
0.23
|
2.42
|
3.36
|
3.45
|
2.49
|
38.73
|
1.08
|
(57)
|
98
|
Central items
|
|
|
|
|
|
|
|
|
|
& other
|
0.07
|
nm
|
-
|
-
|
nm
|
-
|
0.07
|
(6)
|
-
|
Personal
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Wholesale
|
0.07
|
nm
|
-
|
-
|
nm
|
-
|
0.07
|
(6)
|
-
|
Total loans
|
0.17
|
2.04
|
2.38
|
6.63
|
2.15
|
33.65
|
0.86
|
48
|
369
|
Of which:
|
|
|
|
|
|
|
|
|
|
Personal
|
0.14
|
1.81
|
1.69
|
8.98
|
1.96
|
30.71
|
0.81
|
123
|
271
|
Wholesale
|
0.20
|
2.42
|
3.36
|
3.28
|
2.48
|
37.98
|
0.92
|
(75)
|
98
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
Half year ended 30 June 2023
|
|
Retail Banking
|
0.17
|
2.25
|
2.03
|
9.94
|
2.37
|
35.01
|
0.92
|
193
|
63
|
Private Banking
|
0.11
|
2.33
|
1.30
|
1.75
|
2.21
|
13.18
|
0.40
|
11
|
1
|
Personal
|
0.02
|
1.27
|
-
|
-
|
0.78
|
9.57
|
0.17
|
4
|
1
|
Wholesale
|
0.52
|
2.61
|
25.00
|
3.03
|
2.76
|
28.57
|
1.23
|
7
|
-
|
Commercial &
|
|
|
|
|
|
|
|
|
|
Institutional
|
0.30
|
2.83
|
3.20
|
2.59
|
2.83
|
37.88
|
1.18
|
20
|
50
|
Personal
|
0.09
|
-
|
-
|
-
|
-
|
30.77
|
0.76
|
1
|
1
|
Wholesale
|
0.30
|
2.83
|
3.30
|
2.63
|
2.84
|
38.06
|
1.19
|
19
|
49
|
Central items
|
|
|
|
|
|
|
|
|
|
& other
|
0.09
|
nm
|
-
|
nm
|
nm
|
nm
|
0.15
|
(1)
|
8
|
Personal
|
nm
|
nm
|
-
|
nm
|
nm
|
nm
|
nm
|
5
|
1
|
Wholesale
|
0.07
|
nm
|
-
|
-
|
nm
|
25.00
|
0.09
|
(6)
|
7
|
Total loans
|
0.20
|
2.51
|
2.51
|
5.70
|
2.58
|
35.23
|
0.93
|
223
|
122
|
Of which:
|
|
|
|
|
|
|
|
|
|
Personal
|
0.16
|
2.25
|
1.80
|
9.36
|
2.35
|
33.59
|
0.88
|
203
|
66
|
Wholesale
|
0.26
|
2.85
|
3.44
|
2.66
|
2.87
|
37.82
|
1.00
|
20
|
56
|
|
Personal
|
|
Wholesale
|
|
Total
|
|||||||
|
|
Credit
|
Other
|
|
|
|
|
Financial
|
|
|
|
|
|
Mortgages (1)
|
cards
|
personal
|
Total
|
|
Property
|
Corporate
|
institution
|
Sovereign
|
Total
|
|
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Loans by geography
|
205,486
|
6,381
|
9,577
|
221,444
|
|
32,618
|
76,588
|
56,725
|
1,572
|
167,503
|
|
388,947
|
- UK
|
205,486
|
6,381
|
9,577
|
221,444
|
|
32,200
|
63,611
|
38,600
|
552
|
134,963
|
|
356,407
|
- RoI
|
-
|
-
|
-
|
-
|
|
10
|
983
|
529
|
-
|
1,522
|
|
1,522
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
289
|
5,100
|
8,669
|
701
|
14,759
|
|
14,759
|
- RoW
|
-
|
-
|
-
|
-
|
|
119
|
6,894
|
8,927
|
319
|
16,259
|
|
16,259
|
Loans by stage
|
205,486
|
6,381
|
9,577
|
221,444
|
|
32,618
|
76,588
|
56,725
|
1,572
|
167,503
|
|
388,947
|
- Stage 1
|
182,672
|
4,431
|
7,508
|
194,611
|
|
28,872
|
64,974
|
56,103
|
1,287
|
151,236
|
|
345,847
|
- Stage 2
|
20,368
|
1,792
|
1,212
|
23,372
|
|
3,018
|
10,087
|
548
|
263
|
13,916
|
|
37,288
|
- Stage 3
|
2,446
|
158
|
857
|
3,461
|
|
728
|
1,527
|
74
|
22
|
2,351
|
|
5,812
|
- Of which: individual
|
150
|
-
|
22
|
172
|
|
290
|
666
|
66
|
22
|
1,044
|
|
1,216
|
- Of which: collective
|
2,296
|
158
|
835
|
3,289
|
|
438
|
861
|
8
|
-
|
1,307
|
|
4,596
|
Loans - past due analysis (2)
|
205,486
|
6,381
|
9,577
|
221,444
|
|
32,618
|
76,588
|
56,725
|
1,572
|
167,503
|
|
388,947
|
- Not past due
|
202,398
|
6,198
|
8,677
|
217,273
|
|
31,937
|
74,187
|
56,442
|
1,550
|
164,116
|
|
381,389
|
- Past due 1-30 days
|
1,199
|
44
|
68
|
1,311
|
|
296
|
1,494
|
275
|
-
|
2,065
|
|
3,376
|
- Past due 31-90 days
|
735
|
44
|
119
|
898
|
|
86
|
287
|
3
|
-
|
376
|
|
1,274
|
- Past due 90-180 days
|
388
|
38
|
101
|
527
|
|
37
|
33
|
-
|
22
|
92
|
|
619
|
- Past due >180 days
|
766
|
57
|
612
|
1,435
|
|
262
|
587
|
5
|
-
|
854
|
|
2,289
|
Loans - Stage 2
|
20,368
|
1,792
|
1,212
|
23,372
|
|
3,018
|
10,087
|
548
|
263
|
13,916
|
|
37,288
|
- Not past due
|
19,171
|
1,737
|
1,100
|
22,008
|
|
2,820
|
9,331
|
542
|
263
|
12,956
|
|
34,964
|
- Past due 1-30 days
|
822
|
27
|
36
|
885
|
|
116
|
506
|
3
|
-
|
625
|
|
1,510
|
- Past due 31-90 days
|
375
|
28
|
76
|
479
|
|
82
|
250
|
3
|
-
|
335
|
|
814
|
Weighted average life
|
|
|
|
|
|
|
|
|
|
|
|
|
- ECL measurement (years)
|
9
|
4
|
6
|
5
|
|
6
|
6
|
2
|
2
|
6
|
|
6
|
Weighted average 12 months PDs
|
|
|
|
|
|
|
|
|
|
|
|
|
- IFRS 9 (%)
|
0.51
|
2.99
|
4.63
|
0.74
|
|
1.14
|
1.36
|
0.17
|
4.38
|
0.94
|
|
0.83
|
- Basel (%)
|
0.67
|
3.51
|
3.32
|
0.85
|
|
0.90
|
1.22
|
0.16
|
4.38
|
0.82
|
|
0.84
|
ECL provisions by geography
|
420
|
376
|
1,004
|
1,800
|
|
371
|
1,063
|
90
|
19
|
1,543
|
|
3,343
|
- UK
|
420
|
376
|
1,004
|
1,800
|
|
361
|
926
|
34
|
13
|
1,334
|
|
3,134
|
- RoI
|
-
|
-
|
-
|
-
|
|
-
|
3
|
1
|
-
|
4
|
|
4
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
3
|
87
|
8
|
-
|
98
|
|
98
|
- RoW
|
-
|
-
|
-
|
-
|
|
7
|
47
|
47
|
6
|
107
|
|
107
|
ECL provisions by stage
|
420
|
376
|
1,004
|
1,800
|
|
371
|
1,063
|
90
|
19
|
1,543
|
|
3,343
|
- Stage 1
|
49
|
82
|
149
|
280
|
|
73
|
180
|
39
|
13
|
305
|
|
585
|
- Stage 2
|
69
|
189
|
199
|
457
|
|
66
|
270
|
7
|
2
|
345
|
|
802
|
- Stage 3
|
302
|
105
|
656
|
1,063
|
|
232
|
613
|
44
|
4
|
893
|
|
1,956
|
- Of which: individual
|
13
|
-
|
14
|
27
|
|
85
|
211
|
39
|
4
|
339
|
|
366
|
- Of which: collective
|
289
|
105
|
642
|
1,036
|
|
147
|
402
|
5
|
-
|
554
|
|
1,590
|
|
Personal
|
|
Wholesale
|
|
Total
|
|||||||
|
|
Credit
|
Other
|
|
|
|
|
Financial
|
|
|
|
|
|
Mortgages (1)
|
cards
|
personal
|
Total
|
|
Property
|
Corporate
|
institution
|
Sovereign
|
Total
|
|
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
ECL provisions coverage (%)
|
0.20
|
5.89
|
10.48
|
0.81
|
|
1.14
|
1.39
|
0.16
|
1.21
|
0.92
|
|
0.86
|
- Stage 1 (%)
|
0.03
|
1.85
|
1.98
|
0.14
|
|
0.25
|
0.28
|
0.07
|
1.01
|
0.20
|
|
0.17
|
- Stage 2 (%)
|
0.34
|
10.55
|
16.42
|
1.96
|
|
2.19
|
2.68
|
1.28
|
0.76
|
2.48
|
|
2.15
|
- Stage 3 (%)
|
12.35
|
66.46
|
76.55
|
30.71
|
|
31.87
|
40.14
|
59.46
|
18.18
|
37.98
|
|
33.65
|
ECL (release)/charge
|
(19)
|
51
|
91
|
123
|
|
(12)
|
(83)
|
19
|
1
|
(75)
|
|
48
|
- UK
|
(19)
|
51
|
91
|
123
|
|
(12)
|
(70)
|
(4)
|
-
|
(86)
|
|
37
|
- RoI
|
-
|
-
|
-
|
-
|
|
1
|
-
|
-
|
-
|
1
|
|
1
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
(1)
|
(7)
|
(6)
|
-
|
(14)
|
|
(14)
|
- RoW
|
-
|
-
|
-
|
-
|
|
-
|
(6)
|
29
|
1
|
24
|
|
24
|
Amounts written-off
|
9
|
38
|
224
|
271
|
|
10
|
88
|
-
|
-
|
98
|
|
369
|
Loans by residual maturity
|
205,486
|
6,381
|
9,577
|
221,444
|
|
32,618
|
76,588
|
56,725
|
1,572
|
167,503
|
|
388,947
|
- <1 year
|
3,366
|
3,618
|
3,080
|
10,064
|
|
6,665
|
25,856
|
43,220
|
780
|
76,521
|
|
86,585
|
- 1-5 year
|
9,469
|
2,763
|
5,482
|
17,714
|
|
17,687
|
30,632
|
11,242
|
483
|
60,044
|
|
77,758
|
- >5<15 year
|
45,488
|
-
|
1,009
|
46,497
|
|
5,782
|
14,925
|
2,229
|
309
|
23,245
|
|
69,742
|
- >15 year
|
147,163
|
-
|
6
|
147,169
|
|
2,484
|
5,175
|
34
|
-
|
7,693
|
|
154,862
|
Other financial assets by asset quality (3)
|
-
|
-
|
-
|
-
|
|
1
|
2,583
|
27,058
|
136,516
|
166,158
|
|
166,158
|
- AQ1-AQ4
|
-
|
-
|
-
|
-
|
|
1
|
2,581
|
26,507
|
136,516
|
165,605
|
|
165,605
|
- AQ5-AQ8
|
-
|
-
|
-
|
-
|
|
-
|
2
|
551
|
-
|
553
|
|
553
|
Off-balance sheet
|
12,478
|
18,494
|
8,207
|
39,179
|
|
14,159
|
61,113
|
21,516
|
254
|
97,042
|
|
136,221
|
- Loan commitments
|
12,478
|
18,494
|
8,165
|
39,137
|
|
13,843
|
58,410
|
19,909
|
254
|
92,416
|
|
131,553
|
- Financial guarantees
|
-
|
-
|
42
|
42
|
|
316
|
2,703
|
1,607
|
-
|
4,626
|
|
4,668
|
Off-balance sheet by asset quality (3)
|
12,478
|
18,494
|
8,207
|
39,179
|
|
14,159
|
61,113
|
21,516
|
254
|
97,042
|
|
136,221
|
- AQ1-AQ4
|
11,659
|
486
|
6,869
|
19,014
|
|
10,970
|
37,302
|
19,902
|
164
|
68,338
|
|
87,352
|
- AQ5-AQ8
|
797
|
17,681
|
1,301
|
19,779
|
|
3,170
|
23,497
|
1,575
|
27
|
28,269
|
|
48,048
|
- AQ9
|
7
|
9
|
9
|
25
|
|
2
|
25
|
1
|
63
|
91
|
|
116
|
- AQ10
|
15
|
318
|
28
|
361
|
|
17
|
289
|
38
|
-
|
344
|
|
705
|
|
Personal
|
|
Wholesale
|
|
Total
|
|||||||
|
|
Credit
|
Other
|
|
|
|
|
Financial
|
|
|
|
|
|
Mortgages (1)
|
cards
|
personal
|
Total
|
|
Property
|
Corporate
|
institution
|
Sovereign
|
Total
|
|
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
Loans by geography
|
208,275
|
5,904
|
9,595
|
223,774
|
|
31,207
|
77,339
|
57,087
|
2,633
|
168,266
|
|
392,040
|
- UK
|
208,275
|
5,893
|
9,592
|
223,760
|
|
30,703
|
65,033
|
39,906
|
2,016
|
137,658
|
|
361,418
|
- RoI
|
-
|
11
|
3
|
14
|
|
9
|
888
|
279
|
-
|
1,176
|
|
1,190
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
375
|
5,096
|
7,865
|
399
|
13,735
|
|
13,735
|
- RoW
|
-
|
-
|
-
|
-
|
|
120
|
6,322
|
9,037
|
218
|
15,697
|
|
15,697
|
Loans by stage
|
208,275
|
5,904
|
9,595
|
223,774
|
|
31,207
|
77,339
|
57,087
|
2,633
|
168,266
|
|
392,040
|
- Stage 1
|
188,140
|
3,742
|
6,983
|
198,865
|
|
27,316
|
63,690
|
56,105
|
2,610
|
149,721
|
|
348,586
|
- Stage 2
|
17,854
|
2,022
|
1,633
|
21,509
|
|
3,270
|
12,145
|
966
|
1
|
16,382
|
|
37,891
|
- Stage 3
|
2,281
|
140
|
979
|
3,400
|
|
621
|
1,504
|
16
|
22
|
2,163
|
|
5,563
|
- Of which: individual
|
122
|
-
|
20
|
142
|
|
240
|
625
|
2
|
22
|
889
|
|
1,031
|
- Of which: collective
|
2,159
|
140
|
959
|
3,258
|
|
381
|
879
|
14
|
-
|
1,274
|
|
4,532
|
Loans - past due analysis (2)
|
208,275
|
5,904
|
9,595
|
223,774
|
|
31,207
|
77,339
|
57,087
|
2,633
|
168,266
|
|
392,040
|
- Not past due
|
205,405
|
5,743
|
8,578
|
219,726
|
|
30,264
|
74,052
|
56,735
|
2,633
|
163,684
|
|
383,410
|
- Past due 1-30 days
|
1,178
|
41
|
71
|
1,290
|
|
491
|
2,222
|
332
|
-
|
3,045
|
|
4,335
|
- Past due 31-90 days
|
518
|
38
|
112
|
668
|
|
179
|
437
|
12
|
-
|
628
|
|
1,296
|
- Past due 90-180 days
|
445
|
32
|
103
|
580
|
|
42
|
71
|
2
|
-
|
115
|
|
695
|
- Past due >180 days
|
729
|
50
|
731
|
1,510
|
|
231
|
557
|
6
|
-
|
794
|
|
2,304
|
Loans - Stage 2
|
17,854
|
2,022
|
1,633
|
21,509
|
|
3,270
|
12,145
|
966
|
1
|
16,382
|
|
37,891
|
- Not past due
|
16,803
|
1,971
|
1,529
|
20,303
|
|
3,071
|
11,287
|
932
|
1
|
15,291
|
|
35,594
|
- Past due 1-30 days
|
765
|
27
|
40
|
832
|
|
100
|
516
|
24
|
-
|
640
|
|
1,472
|
- Past due 31-90 days
|
286
|
24
|
64
|
374
|
|
99
|
342
|
10
|
-
|
451
|
|
825
|
Weighted average life
|
|
|
|
|
|
|
|
|
|
|
|
|
- ECL measurement (years)
|
9
|
3
|
6
|
6
|
|
6
|
6
|
2
|
-
|
6
|
|
6
|
Weighted average 12 months PDs
|
|
|
|
|
|
|
|
|
|
|
|
|
- IFRS 9 (%)
|
0.50
|
3.45
|
5.29
|
0.75
|
|
1.45
|
1.59
|
0.19
|
0.37
|
1.07
|
|
0.89
|
- Basel (%)
|
0.67
|
3.37
|
3.15
|
0.84
|
|
0.94
|
1.25
|
0.17
|
0.37
|
0.81
|
|
0.83
|
ECL provisions by geography
|
420
|
376
|
1,168
|
1,964
|
|
398
|
1,201
|
66
|
16
|
1,681
|
|
3,645
|
- UK
|
420
|
365
|
1,163
|
1,948
|
|
384
|
999
|
38
|
13
|
1,434
|
|
3,382
|
- RoI
|
-
|
11
|
5
|
16
|
|
-
|
6
|
1
|
-
|
7
|
|
23
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
7
|
146
|
12
|
-
|
165
|
|
165
|
- RoW
|
-
|
-
|
-
|
-
|
|
7
|
50
|
15
|
3
|
75
|
|
75
|
ECL provisions by stage
|
420
|
376
|
1,168
|
1,964
|
|
398
|
1,201
|
66
|
16
|
1,681
|
|
3,645
|
- Stage 1
|
88
|
76
|
152
|
316
|
|
102
|
234
|
44
|
13
|
393
|
|
709
|
- Stage 2
|
61
|
207
|
238
|
506
|
|
98
|
356
|
15
|
1
|
470
|
|
976
|
- Stage 3
|
271
|
93
|
778
|
1,142
|
|
198
|
611
|
7
|
2
|
818
|
|
1,960
|
- Of which: individual
|
12
|
-
|
14
|
26
|
|
60
|
242
|
2
|
2
|
306
|
|
332
|
- Of which: collective
|
259
|
93
|
764
|
1,116
|
|
138
|
369
|
5
|
-
|
512
|
|
1,628
|
|
Personal
|
|
Wholesale
|
|
Total
|
|||||||
|
|
Credit
|
Other
|
|
|
|
|
Financial
|
|
|
|
|
|
Mortgages (1)
|
cards
|
personal
|
Total
|
|
Property
|
Corporate
|
institution
|
Sovereign
|
Total
|
|
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
ECL provisions coverage (%)
|
0.20
|
6.37
|
12.17
|
0.88
|
|
1.28
|
1.55
|
0.12
|
0.61
|
1.00
|
|
0.93
|
- Stage 1 (%)
|
0.05
|
2.03
|
2.18
|
0.16
|
|
0.37
|
0.37
|
0.08
|
0.50
|
0.26
|
|
0.20
|
- Stage 2 (%)
|
0.34
|
10.24
|
14.57
|
2.35
|
|
3.00
|
2.93
|
1.55
|
100.00
|
2.87
|
|
2.58
|
- Stage 3 (%)
|
11.88
|
66.43
|
79.47
|
33.59
|
|
31.88
|
40.63
|
43.75
|
9.09
|
37.82
|
|
35.23
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Half year ended 30 June 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
ECL (release)/charge (4)
|
23
|
70
|
110
|
203
|
|
21
|
7
|
(6)
|
(2)
|
20
|
|
223
|
- UK
|
23
|
68
|
107
|
198
|
|
21
|
37
|
(11)
|
(2)
|
45
|
|
243
|
- RoI
|
-
|
2
|
3
|
5
|
|
5
|
(5)
|
-
|
-
|
-
|
|
5
|
- Other Europe
|
-
|
-
|
-
|
-
|
|
(5)
|
16
|
1
|
-
|
12
|
|
12
|
- RoW
|
-
|
-
|
-
|
-
|
|
-
|
(41)
|
4
|
-
|
(37)
|
|
(37)
|
Amounts written-off (4)
|
8
|
34
|
24
|
66
|
|
19
|
37
|
-
|
-
|
56
|
|
122
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans by residual maturity
|
208,275
|
5,904
|
9,595
|
223,774
|
|
31,207
|
77,339
|
57,087
|
2,633
|
168,266
|
|
392,040
|
- <1 year
|
3,375
|
3,398
|
3,169
|
9,942
|
|
5,696
|
25,312
|
43,497
|
489
|
74,994
|
|
84,936
|
- 1-5 year
|
9,508
|
2,506
|
5,431
|
17,445
|
|
17,216
|
32,573
|
11616
|
1,872
|
63,277
|
|
80,722
|
- >5<15 year
|
46,453
|
-
|
993
|
47,446
|
|
5,701
|
14,167
|
1,939
|
199
|
22,006
|
|
69,452
|
- >15 year
|
148,939
|
-
|
2
|
148,941
|
|
2,594
|
5,287
|
35
|
73
|
7,989
|
|
156,930
|
Other financial assets by asset quality (3)
|
-
|
-
|
-
|
-
|
|
1
|
2,689
|
26,816
|
123,683
|
153,189
|
|
153,189
|
- AQ1-AQ4
|
-
|
-
|
-
|
-
|
|
1.0
|
2,689
|
26,084
|
123,683
|
152,457
|
|
152,457
|
- AQ5-AQ8
|
-
|
-
|
-
|
-
|
|
-
|
-
|
732
|
-
|
732
|
|
732
|
Off-balance sheet
|
9,843
|
17,284
|
8,462
|
35,589
|
|
14,205
|
59,716
|
22,221
|
227
|
96,369
|
|
131,958
|
- Loan commitments
|
9,843
|
17,284
|
8,417
|
35,544
|
|
13,861
|
57,081
|
20,765
|
227
|
91,934
|
|
127,478
|
- Financial guarantees
|
-
|
-
|
45
|
45
|
|
344
|
2,635
|
1,456
|
-
|
4,435
|
|
4,480
|
Off-balance sheet by asset quality (3)
|
9,843
|
17,284
|
8,462
|
35,589
|
|
14,205
|
59,716
|
22,221
|
227
|
96,369
|
|
131,958
|
- AQ1-AQ4
|
9,099
|
448
|
7,271
|
16,818
|
|
10,916
|
36,380
|
20,644
|
165
|
68,105
|
|
84,923
|
- AQ5-AQ8
|
721
|
16,518
|
1,162
|
18,401
|
|
3,266
|
23,030
|
1,574
|
45
|
27,915
|
|
46,316
|
- AQ9
|
7
|
6
|
4
|
17
|
|
3
|
12
|
-
|
-
|
15
|
|
32
|
- AQ10
|
16
|
312
|
25
|
353
|
|
20
|
294
|
3
|
17
|
334
|
|
687
|
Internal asset quality band
|
Probability of default range
|
Indicative S&P rating
|
|
Internal asset quality band
|
Probability of default range
|
Indicative S&P rating
|
AQ1
|
0% - 0.034%
|
AAA to AA
|
|
AQ6
|
1.076% - 2.153%
|
BB- to B+
|
AQ2
|
0.034% - 0.048%
|
AA to AA-
|
|
AQ7
|
2.153% - 6.089%
|
B+ to B
|
AQ3
|
0.048% - 0.095%
|
A+ to A
|
|
AQ8
|
6.089% - 17.222%
|
B- to CCC+
|
AQ4
|
0.095% - 0.381%
|
BBB+ to BBB-
|
|
AQ9
|
17.222% - 100%
|
CCC to C
|
AQ5
|
0.381% - 1.076%
|
BB+ to BB
|
|
AQ10
|
100%
|
D
|
|
Loans - amortised cost and FVOCI
|
|
Off-balance sheet
|
|
ECL provisions
|
|||||||
|
|
|
Loan
|
Contingent
|
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
commitments
|
liabilities
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Personal
|
194,611
|
23,372
|
3,461
|
221,444
|
|
39,137
|
42
|
|
280
|
457
|
1,063
|
1,800
|
Mortgages (1)
|
182,672
|
20,368
|
2,446
|
205,486
|
|
12,478
|
-
|
|
49
|
69
|
302
|
420
|
Credit
cards
|
4,431
|
1,792
|
158
|
6,381
|
|
18,494
|
-
|
|
82
|
189
|
105
|
376
|
Other
personal
|
7,508
|
1,212
|
857
|
9,577
|
|
8,165
|
42
|
|
149
|
199
|
656
|
1,004
|
Wholesale
|
151,236
|
13,916
|
2,351
|
167,503
|
|
92,416
|
4,626
|
|
305
|
345
|
893
|
1,543
|
Property
|
28,872
|
3,018
|
728
|
32,618
|
|
13,843
|
316
|
|
73
|
66
|
232
|
371
|
Financial
institutions (2)
|
56,103
|
548
|
74
|
56,725
|
|
19,909
|
1,607
|
|
39
|
7
|
44
|
90
|
Sovereigns
|
1,287
|
263
|
22
|
1,572
|
|
254
|
-
|
|
13
|
2
|
4
|
19
|
Corporate
|
64,974
|
10,087
|
1,527
|
76,588
|
|
58,410
|
2,703
|
|
180
|
270
|
613
|
1,063
|
Of
which:
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture
|
3,933
|
873
|
122
|
4,928
|
|
947
|
21
|
|
13
|
29
|
37
|
79
|
Airlines
and aerospace
|
2,103
|
286
|
4
|
2,393
|
|
2,087
|
232
|
|
3
|
3
|
3
|
9
|
Automotive
|
7,041
|
653
|
55
|
7,749
|
|
4,090
|
136
|
|
14
|
12
|
18
|
44
|
Building
materials
|
1,447
|
257
|
18
|
1,722
|
|
1,441
|
64
|
|
4
|
7
|
7
|
18
|
Chemicals
|
362
|
76
|
1
|
439
|
|
722
|
14
|
|
1
|
1
|
1
|
3
|
Industrials
|
2,066
|
405
|
74
|
2,545
|
|
2,725
|
140
|
|
7
|
12
|
29
|
48
|
Land
transport and logistics
|
4,485
|
300
|
85
|
4,870
|
|
3,033
|
253
|
|
8
|
11
|
22
|
41
|
Leisure
|
4,576
|
1,866
|
284
|
6,726
|
|
2,140
|
116
|
|
24
|
60
|
98
|
182
|
Mining
and metals
|
296
|
23
|
4
|
323
|
|
315
|
6
|
|
-
|
-
|
4
|
4
|
Oil
and gas
|
626
|
26
|
70
|
722
|
|
1,932
|
189
|
|
2
|
1
|
49
|
52
|
Power
utilities
|
5,811
|
301
|
79
|
6,191
|
|
7,757
|
585
|
|
12
|
7
|
32
|
51
|
Retail
|
6,083
|
1,119
|
164
|
7,366
|
|
4,522
|
385
|
|
14
|
25
|
72
|
111
|
Shipping
|
205
|
10
|
25
|
240
|
|
76
|
27
|
|
-
|
1
|
9
|
10
|
Water
and waste
|
3,513
|
362
|
20
|
3,895
|
|
1,813
|
121
|
|
3
|
3
|
6
|
12
|
Total
|
345,847
|
37,288
|
5,812
|
388,947
|
|
131,553
|
4,668
|
|
585
|
802
|
1,956
|
3,343
|
|
Loans - amortised cost and FVOCI
|
|
Off-balance sheet
|
|
ECL provisions
|
|||||||
|
|
|
Loan
|
Contingent
|
|
|
||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
commitments
|
liabilities
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Personal
|
198,865
|
21,509
|
3,400
|
223,774
|
|
35,544
|
45
|
|
316
|
506
|
1,142
|
1,964
|
Mortgages (1)
|
188,140
|
17,854
|
2,281
|
208,275
|
|
9,843
|
-
|
|
88
|
61
|
271
|
420
|
Credit
cards
|
3,742
|
2,022
|
140
|
5,904
|
|
17,284
|
-
|
|
76
|
207
|
93
|
376
|
Other
personal
|
6,983
|
1,633
|
979
|
9,595
|
|
8,417
|
45
|
|
152
|
238
|
778
|
1,168
|
Wholesale
|
149,721
|
16,382
|
2,163
|
168,266
|
|
91,934
|
4,435
|
|
393
|
470
|
818
|
1,681
|
Property
|
27,316
|
3,270
|
621
|
31,207
|
|
13,861
|
344
|
|
102
|
98
|
198
|
398
|
Financial
institutions (2)
|
56,105
|
966
|
16
|
57,087
|
|
20,765
|
1,456
|
|
44
|
15
|
7
|
66
|
Sovereigns
|
2,610
|
1
|
22
|
2,633
|
|
227
|
-
|
|
13
|
1
|
2
|
16
|
Corporate
|
63,690
|
12,145
|
1,504
|
77,339
|
|
57,081
|
2,635
|
|
234
|
356
|
611
|
1,201
|
Of
which:
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture
|
3,851
|
1,011
|
90
|
4,952
|
|
950
|
21
|
|
19
|
35
|
34
|
88
|
Airlines
and aerospace
|
1,525
|
454
|
3
|
1,982
|
|
1,788
|
178
|
|
4
|
7
|
2
|
13
|
Automotive
|
7,223
|
1,008
|
76
|
8,307
|
|
3,844
|
103
|
|
18
|
18
|
26
|
62
|
Building
materials
|
1,204
|
282
|
72
|
1,558
|
|
1,475
|
72
|
|
6
|
9
|
8
|
23
|
Chemicals
|
354
|
62
|
4
|
420
|
|
785
|
13
|
|
1
|
9
|
1
|
11
|
Industrials
|
2,269
|
543
|
70
|
2,882
|
|
2,896
|
148
|
|
10
|
18
|
23
|
51
|
Land
transport and logistics
|
4,231
|
578
|
61
|
4,870
|
|
3,025
|
184
|
|
11
|
14
|
18
|
43
|
Leisure
|
4,394
|
2,245
|
288
|
6,927
|
|
1,887
|
145
|
|
31
|
74
|
91
|
196
|
Mining
and metals
|
241
|
32
|
4
|
277
|
|
545
|
7
|
|
-
|
-
|
4
|
4
|
Oil
and gas
|
915
|
125
|
27
|
1,067
|
|
1,959
|
237
|
|
3
|
2
|
29
|
34
|
Power
utilities
|
5,604
|
418
|
40
|
6,062
|
|
8,257
|
554
|
|
13
|
13
|
24
|
50
|
Retail
|
5,846
|
1,318
|
224
|
7,388
|
|
4,717
|
429
|
|
23
|
35
|
118
|
176
|
Shipping
|
207
|
35
|
3
|
245
|
|
71
|
31
|
|
-
|
1
|
2
|
3
|
Water
and waste
|
3,536
|
173
|
13
|
3,722
|
|
1,904
|
84
|
|
4
|
5
|
4
|
13
|
Total
|
348,586
|
37,891
|
5,563
|
392,040
|
|
127,478
|
4,480
|
|
709
|
976
|
1,960
|
3,645
|
|
|
Financial
|
|
Other
|
|
|
Property
|
institution
|
Sovereign
|
corporate
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
Forbearance (flow)
|
495
|
101
|
-
|
1,876
|
2,472
|
Forbearance (stock)
|
1,081
|
122
|
20
|
3,751
|
4,974
|
Heightened Monitoring and Risk of Credit Loss
|
1,231
|
183
|
-
|
4,299
|
5,713
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
Forbearance (flow)
|
916
|
56
|
22
|
2,568
|
3,562
|
Forbearance (stock)
|
1,071
|
70
|
22
|
3,752
|
4,915
|
Heightened Monitoring and Risk of Credit Loss
|
1,089
|
276
|
-
|
4,119
|
5,484
|
|
30 June 2024
|
|
31 December 2023
|
||||||||
|
|
|
|
Central
|
|
|
|
|
|
Central
|
|
|
Retail
|
Private
|
Commercial &
|
items
|
|
|
Retail
|
Private
|
Commercial &
|
items
|
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
Personal lending
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Mortgages
|
190,510
|
12,873
|
2,169
|
-
|
205,552
|
|
192,915
|
13,222
|
2,200
|
-
|
208,337
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied
|
172,220
|
11,370
|
1,458
|
-
|
185,048
|
|
174,167
|
11,629
|
1,464
|
-
|
187,260
|
Buy-to-let
|
18,290
|
1,503
|
711
|
-
|
20,504
|
|
18,748
|
1,593
|
736
|
-
|
21,077
|
Interest only
|
22,487
|
11,276
|
439
|
-
|
34,202
|
|
25,805
|
11,631
|
461
|
-
|
37,897
|
Mixed (1)
|
10,191
|
33
|
8
|
-
|
10,232
|
|
10,068
|
25
|
10
|
-
|
10,103
|
ECL provisions (2)
|
398
|
14
|
8
|
-
|
420
|
|
397
|
12
|
6
|
-
|
415
|
Other personal lending (3)
|
14,334
|
1,293
|
253
|
-
|
15,880
|
|
13,758
|
1,395
|
222
|
13
|
15,388
|
ECL provisions (2)
|
1,360
|
14
|
3
|
-
|
1,377
|
|
1,508
|
12
|
2
|
16
|
1,538
|
Total personal lending
|
204,844
|
14,166
|
2,422
|
-
|
221,432
|
|
206,673
|
14,617
|
2,422
|
13
|
223,725
|
Mortgage LTV ratios
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied
|
57%
|
59%
|
55%
|
-
|
57%
|
|
55%
|
59%
|
56%
|
-
|
55%
|
- Stage 1
|
57%
|
59%
|
55%
|
-
|
57%
|
|
55%
|
59%
|
54%
|
-
|
55%
|
- Stage 2
|
57%
|
61%
|
56%
|
-
|
57%
|
|
54%
|
63%
|
54%
|
-
|
54%
|
- Stage 3
|
50%
|
64%
|
76%
|
-
|
51%
|
|
48%
|
61%
|
72%
|
-
|
49%
|
Buy-to-let
|
55%
|
59%
|
52%
|
-
|
55%
|
|
52%
|
59%
|
52%
|
-
|
53%
|
- Stage 1
|
55%
|
60%
|
51%
|
-
|
55%
|
|
52%
|
60%
|
52%
|
-
|
53%
|
- Stage 2
|
53%
|
59%
|
53%
|
-
|
53%
|
|
50%
|
57%
|
49%
|
-
|
50%
|
- Stage 3
|
52%
|
53%
|
60%
|
-
|
53%
|
|
50%
|
53%
|
58%
|
-
|
51%
|
Gross new mortgage lending
|
11,026
|
675
|
114
|
-
|
11,815
|
|
29,664
|
1,400
|
180
|
-
|
31,244
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
Owner occupied
|
10,655
|
607
|
86
|
-
|
11,348
|
|
27,718
|
1,267
|
136
|
-
|
29,121
|
- LTV > 90%
|
364
|
-
|
-
|
-
|
364
|
|
1,173
|
-
|
-
|
-
|
1,173
|
Weighted average LTV (4)
|
69%
|
63%
|
71%
|
-
|
69%
|
|
70%
|
63%
|
69%
|
-
|
70%
|
Buy-to-let
|
371
|
68
|
28
|
-
|
467
|
|
1,946
|
133
|
44
|
-
|
2,123
|
Weighted average LTV (4)
|
59%
|
60%
|
55%
|
-
|
59%
|
|
58%
|
65%
|
52%
|
-
|
58%
|
Interest only
|
633
|
613
|
15
|
-
|
1,261
|
|
2,680
|
1,224
|
23
|
-
|
3,927
|
Mixed (1)
|
574
|
-
|
-
|
-
|
574
|
|
1,568
|
2
|
-
|
-
|
1,570
|
|
30 June 2024
|
|
31 December 2023
|
||||||||
|
|
|
|
Central
|
|
|
|
|
|
Central
|
|
|
Retail
|
Private
|
Commercial &
|
items
|
|
|
Retail
|
Private
|
Commercial &
|
items
|
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
|
Banking
|
Banking
|
Institutional
|
& other
|
Total
|
Mortgage forbearance
|
£m
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
£m
|
Forbearance flow (5)
|
280
|
21
|
3
|
-
|
304
|
|
569
|
22
|
9
|
-
|
600
|
Forbearance stock
|
1,584
|
34
|
14
|
-
|
1,632
|
|
1,416
|
28
|
15
|
-
|
1,459
|
Current
|
1,066
|
22
|
5
|
-
|
1,093
|
|
950
|
10
|
6
|
-
|
966
|
1-3 months in arrears
|
175
|
3
|
-
|
-
|
178
|
|
116
|
2
|
2
|
-
|
120
|
> 3 months in arrears
|
343
|
9
|
9
|
-
|
361
|
|
350
|
16
|
7
|
-
|
373
|
|
Mortgages
|
|
ECL provisions
|
|
ECL provisions coverage
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
≤50%
|
60,006
|
7,459
|
1,112
|
68,577
|
|
12
|
17
|
136
|
165
|
|
0.0
|
0.2
|
12.2
|
0.2
|
>50% and ≤70%
|
60,845
|
7,727
|
856
|
69,428
|
|
18
|
26
|
99
|
143
|
|
0.0
|
0.3
|
11.6
|
0.2
|
>70% and ≤80%
|
25,290
|
2,341
|
173
|
27,804
|
|
8
|
10
|
21
|
39
|
|
0.0
|
0.4
|
12.1
|
0.1
|
>80% and ≤90%
|
14,951
|
1,613
|
86
|
16,650
|
|
6
|
9
|
12
|
27
|
|
0.0
|
0.6
|
14.0
|
0.2
|
>90% and ≤100%
|
6,661
|
968
|
29
|
7,658
|
|
3
|
6
|
5
|
14
|
|
0.0
|
0.6
|
17.2
|
0.2
|
>100%
|
69
|
27
|
14
|
110
|
|
-
|
-
|
6
|
6
|
|
-
|
-
|
42.9
|
5.5
|
Total with LTVs
|
167,822
|
20,135
|
2,270
|
190,227
|
|
47
|
68
|
279
|
394
|
|
0.0
|
0.3
|
12.3
|
0.2
|
Other
|
279
|
1
|
3
|
283
|
|
1
|
-
|
1
|
2
|
|
0.4
|
-
|
33.3
|
0.7
|
Total
|
168,101
|
20,136
|
2,273
|
190,510
|
|
48
|
68
|
280
|
396
|
|
0.0
|
0.3
|
12.3
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
≤50%
|
68,092
|
7,447
|
1,145
|
76,684
|
|
27
|
18
|
134
|
179
|
|
0.0
|
0.2
|
11.7
|
0.2
|
>50% and ≤70%
|
65,777
|
7,011
|
767
|
73,555
|
|
35
|
26
|
85
|
146
|
|
0.1
|
0.4
|
11.1
|
0.2
|
>70% and ≤80%
|
22,537
|
1,633
|
113
|
24,283
|
|
13
|
7
|
15
|
35
|
|
0.1
|
0.4
|
13.3
|
0.1
|
>80% and ≤90%
|
13,583
|
1,143
|
47
|
14,773
|
|
9
|
6
|
7
|
22
|
|
0.1
|
0.5
|
14.9
|
0.1
|
>90% and ≤100%
|
3,008
|
370
|
14
|
3,392
|
|
2
|
3.0
|
3
|
8
|
|
0.1
|
0.8
|
21.4
|
0.2
|
>100%
|
22
|
6
|
11
|
39
|
|
-
|
-
|
5
|
5
|
|
-
|
-
|
45.5
|
12.8
|
Total with LTVs
|
173,019
|
17,610
|
2,097
|
192,726
|
|
86
|
60
|
249
|
395
|
|
0.1
|
0.3
|
11.9
|
0.2
|
Other
|
186
|
1
|
2
|
189
|
|
1
|
-
|
1
|
2
|
|
0.5
|
-
|
50.0
|
1.1
|
Total
|
173,205
|
17,611
|
2,099
|
192,915
|
|
87
|
60
|
250
|
397
|
|
0.1
|
0.3
|
11.9
|
0.2
|
|
30 June 2024
|
|
31 December 2023
|
||||||
Retail Banking mortgages - gross exposure
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
Fixed rate roll-off
|
|
|
|
|
|
|
|
|
|
<=1 year
|
30,357
|
3,882
|
306
|
34,545
|
|
30,867
|
3,670
|
295
|
34,832
|
>1<=2 years
|
43,204
|
4,766
|
359
|
48,329
|
|
39,013
|
3,513
|
290
|
42,816
|
>2 years
|
81,501
|
8,640
|
688
|
90,829
|
|
87,402
|
7,461
|
590
|
95,453
|
Total
|
155,062
|
17,288
|
1,353
|
173,703
|
|
157,282
|
14,644
|
1,175
|
173,101
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans
|
|
ECL provisions
|
|
ECL provisions coverage
|
||||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
≤50%
|
7,899
|
275
|
45
|
|
8,219
|
|
25
|
7
|
8
|
40
|
|
0.3
|
2.5
|
17.8
|
0.5
|
>50% and ≤70%
|
3,692
|
496
|
120
|
|
4,308
|
|
18
|
15
|
24
|
57
|
|
0.5
|
3.0
|
20.0
|
1.3
|
>70% and ≤100%
|
319
|
45
|
87
|
|
451
|
|
2
|
2
|
26
|
30
|
|
0.6
|
4.4
|
29.9
|
6.7
|
>100%
|
205
|
3
|
65
|
|
273
|
|
1
|
-
|
38
|
39
|
|
0.5
|
-
|
58.5
|
14.3
|
Total with LTVs
|
12,115
|
819
|
317
|
|
13,251
|
|
46
|
24
|
96
|
166
|
|
0.4
|
2.9
|
30.3
|
1.3
|
Total portfolio
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
average LTV
|
46%
|
52%
|
98%
|
|
48%
|
|
|
|
|
|
|
|
|
|
|
Other (1)
|
2,205
|
295
|
39
|
|
2,539
|
|
5
|
6
|
16
|
27
|
|
0.2
|
2.0
|
41.0
|
1.1
|
Investment
|
14,320
|
1,114
|
356
|
|
15,790
|
|
51
|
30
|
112
|
193
|
|
0.4
|
2.7
|
31.5
|
1.2
|
Development (2)
|
1,825
|
201
|
50
|
|
2,076
|
|
8
|
2
|
25
|
35
|
|
0.4
|
1.0
|
50.0
|
1.7
|
Total
|
16,145
|
1,315
|
406
|
|
17,866
|
|
59
|
32
|
137
|
228
|
|
0.4
|
2.4
|
33.7
|
1.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
≤50%
|
7,173
|
664
|
61
|
|
7,898
|
|
38
|
15
|
9
|
62
|
|
0.5
|
2.3
|
14.8
|
0.8
|
>50% and ≤70%
|
3,165
|
619
|
94
|
|
3,878
|
|
22
|
21
|
18
|
61
|
|
0.7
|
3.4
|
19.1
|
1.6
|
>70% and ≤100%
|
319
|
112
|
84
|
|
515
|
|
3
|
6
|
21
|
30
|
|
0.9
|
5.4
|
25.0
|
5.8
|
>100%
|
241
|
6
|
26
|
|
273
|
|
1
|
1
|
16
|
18
|
|
0.4
|
16.7
|
61.5
|
6.6
|
Total with LTVs
|
10,898
|
1,401
|
265
|
|
12,564
|
|
64
|
43
|
64
|
171
|
|
0.6
|
3.1
|
24.2
|
1.4
|
Total portfolio
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
average LTV
|
47%
|
51%
|
72%
|
|
48%
|
|
|
|
|
|
|
|
|
|
|
Other (1)
|
2,189
|
390
|
45
|
|
2,624
|
|
10
|
7
|
19
|
36
|
|
0.5
|
1.8
|
42.2
|
1.4
|
Investment
|
13,087
|
1,791
|
310
|
|
15,188
|
|
74
|
50
|
83
|
207
|
|
0.6
|
2.8
|
26.8
|
1.4
|
Development (2)
|
1,717
|
147
|
49
|
|
1,913
|
|
12
|
5
|
25
|
42
|
|
0.7
|
3.4
|
51.0
|
2.2
|
Total
|
14,804
|
1,938
|
359
|
|
17,101
|
|
86
|
55
|
108
|
249
|
|
0.6
|
2.8
|
30.1
|
1.5
|
(1)
|
Relates mainly to business banking and unsecured corporate
lending.
|
(2)
|
Relates to the development of commercial and residential
properties. LTV is not a meaningful measure for this type of
lending activity.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
NatWest Group total
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
504,345
|
709
|
|
40,294
|
976
|
|
5,621
|
1,960
|
|
550,260
|
3,645
|
Currency translation and other adjustments
|
(907)
|
-
|
|
(29)
|
-
|
|
73
|
93
|
|
(863)
|
93
|
Transfers from Stage 1 to Stage 2
|
(20,089)
|
(104)
|
|
20,089
|
104
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
15,305
|
341
|
|
(15,305)
|
(341)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(126)
|
(2)
|
|
(1,643)
|
(145)
|
|
1,769
|
147
|
|
-
|
-
|
Transfers from Stage 3
|
175
|
9
|
|
277
|
18
|
|
(452)
|
(27)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(242)
|
|
|
328
|
|
|
157
|
|
|
243
|
Changes in risk parameters
|
|
(195)
|
|
|
(46)
|
|
|
165
|
|
|
(76)
|
Other changes in net exposure
|
(396)
|
74
|
|
(5,024)
|
(89)
|
|
(918)
|
(85)
|
|
(6,338)
|
(100)
|
Other (P&L only items)
|
|
(1)
|
|
|
(3)
|
|
|
(15)
|
|
|
(19)
|
Income statement (releases)/charges
|
|
(364)
|
|
|
190
|
|
|
222
|
|
|
48
|
Transfers to disposal groups and fair value
|
(296)
|
(5)
|
|
(8)
|
(3)
|
|
(13)
|
(10)
|
|
(317)
|
(18)
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(369)
|
(369)
|
|
(369)
|
(369)
|
Unwinding of discount
|
-
|
-
|
|
|
-
|
|
|
(75)
|
|
|
(75)
|
At 30 June 2024
|
498,011
|
585
|
|
38,651
|
802
|
|
5,711
|
1,956
|
|
542,373
|
3,343
|
Net carrying amount
|
497,426
|
|
|
37,849
|
|
|
3,755
|
|
|
539,030
|
|
At 1 January 2023
|
507,539
|
632
|
|
48,482
|
1,043
|
|
5,231
|
1,759
|
|
561,252
|
3,434
|
2023 movements
|
(26,623)
|
29
|
|
(3,867)
|
(52)
|
|
314
|
146
|
|
(30,176)
|
123
|
At 30 June 2023
|
480,916
|
661
|
|
44,615
|
991
|
|
5,545
|
1,905
|
|
531,076
|
3,557
|
Net carrying amount
|
480,255
|
|
|
43,624
|
|
|
3,640
|
|
|
527,519
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Retail Banking - mortgages
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
174,038
|
87
|
|
17,827
|
60
|
|
2,068
|
250
|
|
193,933
|
397
|
Currency translation and other adjustments
|
-
|
1
|
|
-
|
(1)
|
|
53
|
53
|
|
53
|
53
|
Transfers from Stage 1 to Stage 2
|
(9,955)
|
(12)
|
|
9,955
|
12
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
5,702
|
12
|
|
(5,702)
|
(12)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(33)
|
-
|
|
(531)
|
(4)
|
|
564
|
4
|
|
-
|
-
|
Transfers from Stage 3
|
16
|
-
|
|
155
|
4
|
|
(171)
|
(4)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(7)
|
|
|
14
|
|
|
3
|
|
|
10
|
Changes in risk parameters
|
|
(28)
|
|
|
(1)
|
|
|
48
|
|
|
19
|
Other changes in net exposure
|
(2,775)
|
(4)
|
|
(1,387)
|
(4)
|
|
(265)
|
(35)
|
|
(4,427)
|
(43)
|
Other (P&L only items)
|
|
(1)
|
|
|
-
|
|
|
(2)
|
|
|
(3)
|
Income statement (releases)/charges
|
|
(40)
|
|
|
9
|
|
|
14
|
|
|
(17)
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(8)
|
(8)
|
|
(8)
|
(8)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(31)
|
|
|
(31)
|
At 30 June 2024
|
166,993
|
49
|
|
20,317
|
68
|
|
2,241
|
280
|
|
189,551
|
397
|
Net carrying amount
|
166,944
|
|
|
20,249
|
|
|
1,961
|
|
|
189,154
|
|
At 1 January 2023
|
165,264
|
79
|
|
18,831
|
61
|
|
1,762
|
215
|
|
185,857
|
355
|
2023 movements
|
4,527
|
12
|
|
834
|
3
|
|
85
|
19
|
|
5,446
|
34
|
At 30 June 2023
|
169,791
|
91
|
|
19,665
|
64
|
|
1,847
|
234
|
|
191,303
|
389
|
Net carrying amount
|
169,700
|
|
|
19,601
|
|
|
1,613
|
|
|
190,914
|
|
- |
ECL levels for mortgages remained stable overall during H1 2024,
with growth in Stage 3 ECL offset by a reduction in good book ECL,
primarily driven by the reduction in economic uncertainty post
model adjustment levels.
|
- |
As well as a net reduction in book size, aligned to trends in the
UK mortgage market, the decrease in Stage 1 ECL was also driven by
the cost of living post model adjustment reduction, which
proportionately allocated more ECL to Stage 1 given the
forward-looking nature of the affordability threat. Refer to the
Governance and post model adjustments section for further
details.
|
- |
The Stage 3 inflows remained broadly stable, with signs of
improvement in default rates in recent months. Default rates had
been increasing during 2023 reflecting slightly poorer arrears
performance on mortgages recently rolled-off onto higher product
rates. The increase in Stage 3 ECL primarily reflected increases in
ECL for post-default interest alongside lower levels of
write-offs.
|
- |
There were net flows into Stage 2 from Stage 1 with an upward trend
in early arrears coupled with the collective migration into Stage 2
of higher risk customers utilising new Mortgage Charter treatments
(approximately £0.9 billion exposure).
|
- |
The relatively small ECL cost for net re-measurement on stage
transfer included the effect of risk targeted ECL adjustments, when
previously in the good book. Refer to the Governance and post model
adjustments section for further details.
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Retail Banking - credit cards
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
3,475
|
70
|
|
2,046
|
204
|
|
146
|
89
|
|
5,667
|
363
|
Currency translation and other adjustments
|
-
|
-
|
|
-
|
-
|
|
2
|
2
|
|
2
|
2
|
Transfers from Stage 1 to Stage 2
|
(814)
|
(16)
|
|
814
|
16
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
746
|
52
|
|
(746)
|
(52)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(11)
|
-
|
|
(77)
|
(29)
|
|
88
|
29
|
|
-
|
-
|
Transfers from Stage 3
|
1
|
-
|
|
4
|
2
|
|
(5)
|
(2)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(31)
|
|
|
74
|
|
|
21
|
|
|
64
|
Changes in risk parameters
|
|
1
|
|
|
3
|
|
|
9
|
|
|
13
|
Other changes in net exposure
|
726
|
5
|
|
(219)
|
(30)
|
|
(24)
|
(1)
|
|
483
|
(26)
|
Other (P&L only items)
|
|
-
|
|
|
1
|
|
|
-
|
|
|
1
|
Income statement (releases)/charges
|
|
(25)
|
|
|
48
|
|
|
29
|
|
|
52
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(38)
|
(38)
|
|
(38)
|
(38)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(4)
|
|
|
(4)
|
At 30 June 2024
|
4,123
|
81
|
|
1,822
|
188
|
|
169
|
105
|
|
6,114
|
374
|
Net carrying amount
|
4,042
|
|
|
1,634
|
|
|
64
|
|
|
5,740
|
|
At 1 January 2023
|
3,062
|
61
|
|
1,098
|
120
|
|
113
|
71
|
|
4,273
|
252
|
2023 movements
|
118
|
(2)
|
|
422
|
25
|
|
13
|
12
|
|
553
|
35
|
At 30 June 2023
|
3,180
|
59
|
|
1,520
|
145
|
|
126
|
83
|
|
4,826
|
287
|
Net carrying amount
|
3,121
|
|
|
1,375
|
|
|
43
|
|
|
4,539
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Retail Banking - other personal unsecured
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
5,240
|
149
|
|
1,657
|
238
|
|
963
|
758
|
|
7,860
|
1,145
|
Currency translation and other adjustments
|
-
|
-
|
|
-
|
1
|
|
8
|
8
|
|
8
|
9
|
Transfers from Stage 1 to Stage 2
|
(854)
|
(40)
|
|
854
|
40
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
953
|
137
|
|
(953)
|
(137)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(37)
|
(1)
|
|
(157)
|
(68)
|
|
194
|
69
|
|
-
|
-
|
Transfers from Stage 3
|
4
|
1
|
|
12
|
5
|
|
(16)
|
(6)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(99)
|
|
|
133
|
|
|
13
|
|
|
47
|
Changes in risk parameters
|
|
(42)
|
|
|
7
|
|
|
63
|
|
|
28
|
Other changes in net exposure
|
411
|
40
|
|
(188)
|
(19)
|
|
(80)
|
(22)
|
|
143
|
(1)
|
Other (P&L only items)
|
|
-
|
|
|
(1)
|
|
|
14
|
|
|
13
|
Income statement (releases)/charges
|
|
(101)
|
|
|
120
|
|
|
68
|
|
|
87
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(224)
|
(224)
|
|
(224)
|
(224)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(18)
|
|
|
(18)
|
At 30 June 2024
|
5,717
|
145
|
|
1,225
|
200
|
|
845
|
641
|
|
7,787
|
986
|
Net carrying amount
|
5,572
|
|
|
1,025
|
|
|
204
|
|
|
6,801
|
|
At 1 January 2023
|
4,784
|
111
|
|
2,028
|
269
|
|
779
|
631
|
|
7,591
|
1,011
|
2023 movements
|
292
|
21
|
|
(147)
|
(39)
|
|
111
|
90
|
|
256
|
72
|
At 30 June 2023
|
5,076
|
132
|
|
1,881
|
230
|
|
890
|
721
|
|
7,847
|
1,083
|
Net carrying amount
|
4,944
|
|
|
1,651
|
|
|
169
|
|
|
6,764
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Commercial & Institutional total
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
176,302
|
356
|
|
17,029
|
447
|
|
2,161
|
819
|
|
195,492
|
1,622
|
Currency translation and other adjustments
|
(436)
|
(1)
|
|
(29)
|
1
|
|
12
|
27
|
|
(453)
|
27
|
Inter-group transfers
|
-
|
-
|
|
-
|
-
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 1 to Stage 2
|
(7,758)
|
(35)
|
|
7,758
|
35
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
6,940
|
130
|
|
(6,940)
|
(130)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(34)
|
-
|
|
(761)
|
(44)
|
|
795
|
44
|
|
-
|
-
|
Transfers from Stage 3
|
125
|
7
|
|
93
|
8
|
|
(218)
|
(15)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(98)
|
|
|
102
|
|
|
121
|
|
|
125
|
Changes in risk parameters
|
|
(114)
|
|
|
(49)
|
|
|
42
|
|
|
(121)
|
Other changes in net exposure
|
4,452
|
30
|
|
(3,109)
|
(36)
|
|
(493)
|
(28)
|
|
850
|
(34)
|
Other (P&L only items)
|
|
-
|
|
|
(3)
|
|
|
(24)
|
|
|
(27)
|
Income statement (releases)/charges
|
|
(182)
|
|
|
14
|
|
|
111
|
|
|
(57)
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(99)
|
(99)
|
|
(99)
|
(99)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(19)
|
|
|
(19)
|
At 30 June 2024
|
179,591
|
275
|
|
14,041
|
334
|
|
2,158
|
892
|
|
195,790
|
1,501
|
Net carrying amount
|
179,316
|
|
|
13,707
|
|
|
1,266
|
|
|
194,289
|
|
At 1 January 2023
|
160,352
|
342
|
|
24,711
|
534
|
|
2,198
|
747
|
|
187,261
|
1,623
|
2023 movements
|
1,819
|
(9)
|
|
(4,368)
|
(27)
|
|
75
|
18
|
|
(2,474)
|
(18)
|
At 30 June 2023
|
162,171
|
333
|
|
20,343
|
507
|
|
2,273
|
765
|
|
184,787
|
1,605
|
Net carrying amount
|
161,838
|
|
|
19,836
|
|
|
1,508
|
|
|
183,182
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Commercial & Institutional - corporate
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
61,402
|
226
|
|
12,275
|
344
|
|
1,454
|
602
|
|
75,131
|
1,172
|
Currency translation and other adjustments
|
(88)
|
(1)
|
|
(21)
|
1
|
|
11
|
22
|
|
(98)
|
22
|
Inter-group transfers
|
86
|
-
|
|
35
|
2
|
|
2
|
1
|
|
123
|
3
|
Transfers from Stage 1 to Stage 2
|
(5,045)
|
(26)
|
|
5,045
|
26
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
4,772
|
98
|
|
(4,772)
|
(98)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(30)
|
-
|
|
(530)
|
(30)
|
|
560
|
30
|
|
-
|
-
|
Transfers from Stage 3
|
100
|
5
|
|
66
|
6
|
|
(166)
|
(11)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(75)
|
|
|
76
|
|
|
60
|
|
|
61
|
Changes in risk parameters
|
|
(67)
|
|
|
(39)
|
|
|
28
|
|
|
(78)
|
Other changes in net exposure
|
2,119
|
14
|
|
(2,003)
|
(25)
|
|
(313)
|
(20)
|
|
(197)
|
(31)
|
Other (P&L only items)
|
|
-
|
|
|
(4)
|
|
|
(21)
|
|
|
(25)
|
Income statement (releases)/charges
|
|
(128)
|
|
|
8
|
|
|
47
|
|
|
(73)
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(88)
|
(88)
|
|
(88)
|
(88)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(13)
|
|
|
(13)
|
At 30 June 2024
|
63,316
|
174
|
|
10,095
|
263
|
|
1,460
|
611
|
|
74,871
|
1,048
|
Net carrying amount
|
63,142
|
|
|
9,832
|
|
|
849
|
|
|
73,823
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Commercial & Institutional - property
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
26,040
|
94
|
|
3,155
|
89
|
|
606
|
195
|
|
29,801
|
378
|
Currency translation and other adjustments
|
(5)
|
-
|
|
(2)
|
(1)
|
|
-
|
7
|
|
(7)
|
6
|
Inter-group transfers
|
(30)
|
-
|
|
(23)
|
(2)
|
|
(2)
|
-
|
|
(55)
|
(2)
|
Transfers from Stage 1 to Stage 2
|
(1,869)
|
(7)
|
|
1,869
|
7
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
1,622
|
27
|
|
(1,622)
|
(27)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
(4)
|
-
|
|
(160)
|
(9)
|
|
164
|
9
|
|
-
|
-
|
Transfers from Stage 3
|
21
|
2
|
|
24
|
2
|
|
(45)
|
(4)
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(19)
|
|
|
22
|
|
|
30
|
|
|
33
|
Changes in risk parameters
|
|
(38)
|
|
|
(12)
|
|
|
11
|
|
|
(39)
|
Other changes in net exposure
|
751
|
9
|
|
(266)
|
(7)
|
|
(150)
|
(6)
|
|
335
|
(4)
|
Other (P&L only items)
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
Income statement (releases)/charges
|
|
(48)
|
|
|
3
|
|
|
35
|
|
|
(10)
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(10)
|
(10)
|
|
(10)
|
(10)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(5)
|
|
|
(5)
|
At 30 June 2024
|
26,526
|
68
|
|
2,975
|
62
|
|
563
|
227
|
|
30,064
|
357
|
Net carrying amount
|
26,458
|
|
|
2,913
|
|
|
336
|
|
|
29,707
|
|
|
Stage 1
|
|
Stage 2
|
|
Stage 3
|
|
Total
|
||||
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
Financial
|
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
|
assets
|
ECL
|
Commercial & Institutional - other
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
|
£m
|
£m
|
At 1 January 2024
|
88,860
|
36
|
|
1,599
|
14
|
|
101
|
22
|
|
90,560
|
72
|
Currency translation and other adjustments
|
(344)
|
-
|
|
(5)
|
1
|
|
1
|
(1)
|
|
(348)
|
-
|
Inter-group transfers
|
(56)
|
-
|
|
(12)
|
-
|
|
-
|
-
|
|
(68)
|
-
|
Transfers from Stage 1 to Stage 2
|
(844)
|
(2)
|
|
844
|
2
|
|
-
|
-
|
|
-
|
-
|
Transfers from Stage 2 to Stage 1
|
547
|
5
|
|
(547)
|
(5)
|
|
-
|
-
|
|
-
|
-
|
Transfers to Stage 3
|
-
|
-
|
|
(71)
|
(6)
|
|
71
|
6
|
|
-
|
-
|
Transfers from Stage 3
|
4
|
-
|
|
3
|
-
|
|
(7)
|
-
|
|
-
|
-
|
Net re-measurement of ECL on stage transfer
|
|
(3)
|
|
|
4
|
|
|
30
|
|
|
31
|
Changes in risk parameters
|
|
(8)
|
|
|
2
|
|
|
2
|
|
|
(4)
|
Other changes in net exposure
|
1,582
|
5
|
|
(840)
|
(3)
|
|
(30)
|
(1)
|
|
712
|
1
|
Other (P&L only items)
|
|
-
|
|
|
-
|
|
|
(2)
|
|
|
(2)
|
Income statement (releases)/charges
|
|
(6)
|
|
|
3
|
|
|
29
|
|
|
26
|
Amounts written-off
|
-
|
-
|
|
-
|
-
|
|
(1)
|
(1)
|
|
(1)
|
(1)
|
Unwinding of discount
|
|
-
|
|
|
-
|
|
|
(1)
|
|
|
(1)
|
At 30 June 2024
|
89,749
|
33
|
|
971
|
9
|
|
135
|
54
|
|
90,855
|
96
|
Net carrying amount
|
89,716
|
|
|
962
|
|
|
81
|
|
|
90,759
|
|
|
UK mortgages
|
|
Credit cards
|
|
Other
|
|
Total
|
||||
30 June 2024
|
£m
|
%
|
|
£m
|
%
|
|
£m
|
%
|
|
£m
|
%
|
Personal trigger (1)
|
|
|
|
|
|
|
|
|
|
|
|
PD movement
|
13,825
|
67.8
|
|
1,303
|
72.6
|
|
623
|
51.3
|
|
15,751
|
67.5
|
PD persistence
|
3,964
|
19.5
|
|
406
|
22.7
|
|
230
|
19.0
|
|
4,600
|
19.7
|
Adverse credit bureau recorded with credit reference
agency
|
969
|
4.8
|
|
64
|
3.6
|
|
121
|
10.0
|
|
1,154
|
4.9
|
Forbearance support provided
|
162
|
0.8
|
|
1
|
0.1
|
|
11
|
0.9
|
|
174
|
0.7
|
Customers in collections
|
173
|
0.8
|
|
2
|
0.1
|
|
14
|
1.2
|
|
189
|
0.8
|
Collective SICR and other reasons (2)
|
1,141
|
5.6
|
|
16
|
0.9
|
|
200
|
16.5
|
|
1,357
|
5.8
|
Days past due >30
|
134
|
0.7
|
|
-
|
-
|
|
13
|
1.1
|
|
147
|
0.6
|
|
20,368
|
100.0
|
|
1,792
|
100.0
|
|
1,212
|
100.0
|
|
23,372
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
Personal trigger (1)
|
|
|
|
|
|
|
|
|
|
|
|
PD movement
|
12,969
|
72.5
|
|
1,469
|
72.7
|
|
866
|
52.9
|
|
15,304
|
71.1
|
PD persistence
|
2,317
|
13.0
|
|
481
|
23.8
|
|
374
|
22.9
|
|
3,172
|
14.7
|
Adverse credit bureau recorded with credit reference
agency
|
1,047
|
5.9
|
|
49
|
2.4
|
|
99
|
6.1
|
|
1,195
|
5.6
|
Forbearance support provided
|
137
|
0.8
|
|
1
|
-
|
|
11
|
0.7
|
|
149
|
0.7
|
Customers in collections
|
178
|
1.0
|
|
2
|
0.1
|
|
8
|
0.5
|
|
188
|
0.9
|
Collective SICR and other reasons (2)
|
1,087
|
6.1
|
|
20
|
1.0
|
|
266
|
16.3
|
|
1,373
|
6.4
|
Days past due >30
|
119
|
0.7
|
|
-
|
-
|
|
9
|
0.6
|
|
128
|
0.6
|
|
17,854
|
100.0
|
|
2,022
|
100.0
|
|
1,633
|
100.0
|
|
21,509
|
100.0
|
|
Property
|
|
Corporate
|
|
Financial institutions
|
|
Sovereign
|
|
Total
|
|||||
30 June 2024
|
£m
|
%
|
|
£m
|
%
|
|
£m
|
%
|
|
£m
|
%
|
|
£m
|
%
|
Wholesale trigger (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PD movement
|
1,742
|
57.6
|
|
6,664
|
66.1
|
|
422
|
77.0
|
|
-
|
-
|
|
8,828
|
63.5
|
PD persistence
|
68
|
2.3
|
|
248
|
2.5
|
|
3
|
0.5
|
|
-
|
-
|
|
319
|
2.3
|
Heightened Monitoring and Risk of Credit Loss
|
1,008
|
33.4
|
|
2,116
|
21.0
|
|
109
|
19.9
|
|
262
|
99.6
|
|
3,495
|
25.1
|
Forbearance support provided
|
45
|
1.5
|
|
386
|
3.8
|
|
6
|
1.1
|
|
-
|
-
|
|
437
|
3.1
|
Customers in collections
|
8
|
0.3
|
|
25
|
0.2
|
|
-
|
-
|
|
-
|
-
|
|
33
|
0.2
|
Collective SICR and other reasons (2)
|
112
|
3.7
|
|
522
|
5.2
|
|
7
|
1.3
|
|
1
|
0.4
|
|
642
|
4.6
|
Days past due >30
|
35
|
1.2
|
|
126
|
1.2
|
|
1
|
0.2
|
|
-
|
-
|
|
162
|
1.2
|
|
3,018
|
100.0
|
|
10,087
|
100.0
|
|
548
|
100.0
|
|
263
|
100.0
|
|
13,916
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wholesale trigger (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PD movement
|
2,211
|
67.6
|
|
7,611
|
62.5
|
|
760
|
78.7
|
|
-
|
-
|
|
10,582
|
64.6
|
PD persistence
|
223
|
6.8
|
|
847
|
7.0
|
|
13
|
1.3
|
|
-
|
-
|
|
1,083
|
6.6
|
Heightened Monitoring and Risk of Credit Loss
|
563
|
17.2
|
|
2,630
|
21.7
|
|
120
|
12.4
|
|
-
|
-
|
|
3,313
|
20.2
|
Forbearance support provided
|
49
|
1.6
|
|
373
|
3.1
|
|
-
|
-
|
|
-
|
-
|
|
422
|
2.6
|
Customers in collections
|
7
|
0.2
|
|
23
|
0.2
|
|
-
|
-
|
|
-
|
-
|
|
30
|
0.2
|
Collective SICR and other reasons (2)
|
70
|
2.1
|
|
457
|
3.8
|
|
72
|
7.5
|
|
1
|
100.0
|
|
600
|
3.7
|
Days past due >30
|
147
|
4.5
|
|
204
|
1.7
|
|
1
|
0.1
|
|
-
|
-
|
|
352
|
2.1
|
|
3,270
|
100.0
|
|
12,145
|
100.0
|
|
966
|
100.0
|
|
1
|
100.0
|
|
16,382
|
100.0
|
|
Gross loans
|
|
ECL provisions
|
|
ECL provisions coverage
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
UK mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
100,746
|
8,061
|
-
|
108,807
|
|
20
|
20
|
-
|
40
|
|
0.0
|
0.3
|
-
|
0.0
|
AQ5-AQ8
|
81,760
|
11,399
|
-
|
93,159
|
|
29
|
43
|
-
|
72
|
|
0.0
|
0.4
|
-
|
0.1
|
AQ9
|
166
|
908
|
-
|
1,074
|
|
-
|
6
|
-
|
6
|
|
-
|
0.7
|
-
|
0.6
|
AQ10
|
-
|
-
|
2,446
|
2,446
|
|
-
|
-
|
302
|
302
|
|
-
|
-
|
12.4
|
12.4
|
|
182,672
|
20,368
|
2,446
|
205,486
|
|
49
|
69
|
302
|
420
|
|
0.0
|
0.3
|
12.4
|
0.2
|
Credit cards
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
126
|
-
|
-
|
126
|
|
1
|
-
|
-
|
1
|
|
0.8
|
-
|
-
|
0.8
|
AQ5-AQ8
|
4,292
|
1,718
|
-
|
6,010
|
|
80
|
173
|
-
|
253
|
|
1.9
|
10.1
|
-
|
4.2
|
AQ9
|
13
|
74
|
-
|
87
|
|
1
|
16
|
-
|
17
|
|
7.7
|
21.6
|
-
|
19.5
|
AQ10
|
-
|
-
|
158
|
158
|
|
-
|
-
|
105
|
105
|
|
-
|
-
|
66.5
|
66.5
|
|
4,431
|
1,792
|
158
|
6,381
|
|
82
|
189
|
105
|
376
|
|
1.9
|
10.6
|
66.5
|
5.9
|
Other personal
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
708
|
107
|
-
|
815
|
|
8
|
14
|
-
|
22
|
|
1.1
|
13.1
|
-
|
2.7
|
AQ5-AQ8
|
6,729
|
972
|
-
|
7,701
|
|
135
|
140
|
-
|
275
|
|
2.0
|
14.4
|
-
|
3.6
|
AQ9
|
71
|
133
|
-
|
204
|
|
6
|
45
|
-
|
51
|
|
8.5
|
33.8
|
-
|
25.0
|
AQ10
|
-
|
-
|
857
|
857
|
|
-
|
-
|
656
|
656
|
|
-
|
-
|
76.6
|
76.6
|
|
7,508
|
1,212
|
857
|
9,577
|
|
149
|
199
|
656
|
1,004
|
|
2.0
|
16.4
|
76.6
|
10.5
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
101,580
|
8,168
|
-
|
109,748
|
|
29
|
34
|
-
|
63
|
|
0.0
|
0.4
|
-
|
0.1
|
AQ5-AQ8
|
92,781
|
14,089
|
-
|
106,870
|
|
244
|
356
|
-
|
600
|
|
0.3
|
2.5
|
-
|
0.6
|
AQ9
|
250
|
1,115
|
-
|
1,365
|
|
7
|
67
|
-
|
74
|
|
2.8
|
6.0
|
-
|
5.4
|
AQ10
|
-
|
-
|
3,461
|
3,461
|
|
-
|
-
|
1,063
|
1,063
|
|
-
|
-
|
30.7
|
30.7
|
|
194,611
|
23,372
|
3,461
|
221,444
|
|
280
|
457
|
1,063
|
1,800
|
|
0.1
|
2.0
|
30.7
|
0.8
|
|
Gross loans
|
|
ECL provisions
|
|
ECL provisions coverage
|
|||||||||
|
Stage
1
|
Stage
2
|
Stage
3
|
Total
|
|
Stage
1
|
Stage
2
|
Stage
3
|
Total
|
|
Stage
1
|
Stage
2
|
Stage
3
|
Total
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
UK mortgages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
110,694
|
7,572
|
-
|
118,266
|
|
51
|
20
|
-
|
71
|
|
0.1
|
0.3
|
-
|
0.1
|
AQ5-AQ8
|
77,290
|
9,578
|
-
|
86,868
|
|
37
|
37
|
-
|
74
|
|
0.1
|
0.4
|
-
|
0.1
|
AQ9
|
156
|
704
|
-
|
860
|
|
-
|
4
|
-
|
4
|
|
-
|
0.6
|
-
|
0.5
|
AQ10
|
-
|
-
|
2,281
|
2,281
|
|
-
|
-
|
271
|
271
|
|
-
|
-
|
11.9
|
11.9
|
|
188,140
|
17,854
|
2,281
|
208,275
|
|
88
|
61
|
271
|
420
|
|
0.1
|
0.3
|
11.9
|
0.2
|
Credit cards
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
124
|
-
|
-
|
124
|
|
1
|
-
|
-
|
1
|
|
0.8
|
-
|
-
|
0.8
|
AQ5-AQ8
|
3,612
|
1,965
|
-
|
5,577
|
|
75
|
193
|
-
|
268
|
|
2.1
|
9.8
|
-
|
4.8
|
AQ9
|
6
|
57
|
-
|
63
|
|
-
|
14
|
-
|
14
|
|
-
|
24.6
|
-
|
22.2
|
AQ10
|
-
|
-
|
140
|
140
|
|
-
|
-
|
93
|
93
|
|
-
|
-
|
66.4
|
66.4
|
|
3,742
|
2,022
|
140
|
5,904
|
|
76
|
207
|
93
|
376
|
|
2.0
|
10.2
|
66.4
|
6.4
|
Other personal
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
764
|
150
|
-
|
914
|
|
11
|
23
|
-
|
34
|
|
1.4
|
15.3
|
-
|
3.7
|
AQ5-AQ8
|
6,178
|
1,374
|
-
|
7,552
|
|
138
|
180
|
-
|
318
|
|
2.2
|
13.1
|
-
|
4.2
|
AQ9
|
41
|
109
|
-
|
150
|
|
3
|
35
|
-
|
38
|
|
7.3
|
32.1
|
-
|
25.3
|
AQ10
|
-
|
-
|
979
|
979
|
|
-
|
-
|
778
|
778
|
|
-
|
-
|
79.5
|
79.5
|
|
6,983
|
1,633
|
979
|
9,595
|
|
152
|
238
|
778
|
1,168
|
|
2.2
|
14.6
|
79.5
|
12.2
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
111,582
|
7,722
|
-
|
119,304
|
|
63
|
43
|
-
|
106
|
|
0.1
|
0.6
|
-
|
0.1
|
AQ5-AQ8
|
87,080
|
12,917
|
-
|
99,997
|
|
250
|
410
|
-
|
660
|
|
0.3
|
3.2
|
-
|
0.7
|
AQ9
|
203
|
870
|
-
|
1,073
|
|
3
|
53
|
-
|
56
|
|
1.5
|
6.1
|
-
|
5.2
|
AQ10
|
-
|
-
|
3,400
|
3,400
|
|
-
|
-
|
1,142
|
1,142
|
|
-
|
-
|
33.6
|
33.6
|
|
198,865
|
21,509
|
3,400
|
223,774
|
|
316
|
506
|
1,142
|
1,964
|
|
0.2
|
2.4
|
33.6
|
0.9
|
|
Gross loans
|
|
ECL provisions
|
|
ECL provisions coverage
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
Property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
15,257
|
1,000
|
-
|
16,257
|
|
13
|
8
|
-
|
21
|
|
0.1
|
0.8
|
-
|
0.1
|
AQ5-AQ8
|
13,607
|
1,955
|
-
|
15,562
|
|
60
|
54
|
-
|
114
|
|
0.4
|
2.8
|
-
|
0.7
|
AQ9
|
8
|
63
|
-
|
71
|
|
-
|
4
|
-
|
4
|
|
-
|
6.4
|
-
|
5.6
|
AQ10
|
-
|
-
|
728
|
728
|
|
-
|
-
|
232
|
232
|
|
-
|
-
|
31.9
|
31.9
|
|
28,872
|
3,018
|
728
|
32,618
|
|
73
|
66
|
232
|
371
|
|
0.3
|
2.2
|
31.9
|
1.1
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
25,616
|
1,040
|
-
|
26,656
|
|
18
|
12
|
-
|
30
|
|
0.1
|
1.2
|
-
|
0.1
|
AQ5-AQ8
|
39,331
|
8,797
|
-
|
48,128
|
|
162
|
239
|
-
|
401
|
|
0.4
|
2.7
|
-
|
0.8
|
AQ9
|
27
|
250
|
-
|
277
|
|
-
|
19
|
-
|
19
|
|
-
|
7.6
|
-
|
6.9
|
AQ10
|
-
|
-
|
1,527
|
1,527
|
|
-
|
-
|
613
|
613
|
|
-
|
-
|
40.1
|
40.1
|
|
64,974
|
10,087
|
1,527
|
76,588
|
|
180
|
270
|
613
|
1,063
|
|
0.3
|
2.7
|
40.1
|
1.4
|
Financial institutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
52,008
|
413
|
-
|
52,421
|
|
24
|
1
|
-
|
25
|
|
0.1
|
0.2
|
-
|
0.1
|
AQ5-AQ8
|
4,093
|
123
|
-
|
4,216
|
|
15
|
5
|
-
|
20
|
|
0.4
|
4.1
|
-
|
0.5
|
AQ9
|
2
|
12
|
-
|
14
|
|
-
|
1
|
-
|
1
|
|
-
|
8.3
|
-
|
7.1
|
AQ10
|
-
|
-
|
74
|
74
|
|
-
|
-
|
44
|
44
|
|
-
|
-
|
59.5
|
59.5
|
|
56,103
|
548
|
74
|
56,725
|
|
39
|
7
|
44
|
90
|
|
0.1
|
1.3
|
59.5
|
0.2
|
Sovereign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
1,287
|
1
|
-
|
1,288
|
|
13
|
1
|
-
|
14
|
|
1.0
|
100.0
|
-
|
1.1
|
AQ5-AQ8
|
-
|
130
|
-
|
130
|
|
-
|
1
|
-
|
1
|
|
-
|
0.8
|
-
|
0.8
|
AQ 9
|
-
|
132
|
-
|
132
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
AQ10
|
-
|
-
|
22
|
22
|
|
-
|
-
|
4
|
4
|
|
-
|
-
|
18.2
|
18.2
|
|
1,287
|
263
|
22
|
1,572
|
|
13
|
2
|
4
|
19
|
|
1.0
|
0.8
|
18.2
|
1.2
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
94,168
|
2,454
|
-
|
96,622
|
|
68
|
22
|
-
|
90
|
|
0.1
|
0.9
|
-
|
0.1
|
AQ5-AQ8
|
57,031
|
11,005
|
-
|
68,036
|
|
237
|
299
|
-
|
536
|
|
0.4
|
2.7
|
-
|
0.8
|
AQ9
|
37
|
457
|
-
|
494
|
|
-
|
24
|
-
|
24
|
|
-
|
5.3
|
-
|
4.9
|
AQ10
|
-
|
-
|
2,351
|
2,351
|
|
-
|
-
|
893
|
893
|
|
-
|
-
|
38.0
|
38.0
|
|
151,236
|
13,916
|
2,351
|
167,503
|
|
305
|
345
|
893
|
1,543
|
|
0.2
|
2.5
|
38.0
|
0.9
|
|
Gross loans
|
|
ECL provisions
|
|
ECL provisions coverage
|
|||||||||
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
|
Stage 1
|
Stage 2
|
Stage 3
|
Total
|
31 December 2023
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
%
|
%
|
%
|
%
|
Property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
14,961
|
405
|
-
|
15,366
|
|
16
|
5
|
-
|
21
|
|
0.1
|
1.2
|
-
|
0.1
|
AQ5-AQ8
|
12,346
|
2,799
|
-
|
15,145
|
|
86
|
88
|
-
|
174
|
|
0.7
|
3.1
|
-
|
1.2
|
AQ9
|
9
|
66
|
-
|
75
|
|
-
|
5
|
-
|
5
|
|
-
|
7.6
|
-
|
6.7
|
AQ10
|
-
|
-
|
621
|
621
|
|
-
|
-
|
198
|
198
|
|
-
|
-
|
31.9
|
31.9
|
|
27,316
|
3,270
|
621
|
31,207
|
|
102
|
98
|
198
|
398
|
|
0.4
|
3.0
|
31.9
|
1.3
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
25,914
|
937
|
-
|
26,851
|
|
27
|
13
|
-
|
40
|
|
0.1
|
1.4
|
-
|
0.2
|
AQ5-AQ8
|
37,738
|
10,935
|
-
|
48,673
|
|
207
|
323
|
-
|
530
|
|
0.6
|
3.0
|
-
|
1.1
|
AQ9
|
38
|
273
|
-
|
311
|
|
-
|
20
|
-
|
20
|
|
-
|
7.3
|
-
|
6.4
|
AQ10
|
-
|
-
|
1,504
|
1,504
|
|
-
|
-
|
611
|
611
|
|
-
|
-
|
40.6
|
40.6
|
|
63,690
|
12,145
|
1,504
|
77,339
|
|
234
|
356
|
611
|
1,201
|
|
0.4
|
2.9
|
40.6
|
1.6
|
Financial institutions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
52,702
|
665
|
-
|
53,367
|
|
28
|
6
|
-
|
34
|
|
0.1
|
0.9
|
-
|
0.1
|
AQ5-AQ8
|
3,402
|
284
|
-
|
3,686
|
|
16
|
9
|
-
|
25
|
|
0.5
|
3.2
|
-
|
0.7
|
AQ9
|
1
|
17
|
-
|
18
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
AQ10
|
-
|
-
|
16
|
16
|
|
-
|
-
|
7
|
7
|
|
-
|
-
|
43.8
|
43.8
|
|
56,105
|
966
|
16
|
57,087
|
|
44
|
15
|
7
|
66
|
|
0.1
|
1.6
|
43.8
|
0.1
|
Sovereign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
2,487
|
1
|
-
|
2,488
|
|
13
|
1
|
-
|
14
|
|
0.5
|
nm
|
-
|
0.6
|
AQ5-AQ8
|
123
|
-
|
-
|
123
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
AQ9
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
AQ10
|
-
|
-
|
22
|
22
|
|
-
|
-
|
2
|
2
|
|
-
|
-
|
9.1
|
9.1
|
|
2,610
|
1
|
22
|
2,633
|
|
13
|
1
|
2
|
16
|
|
0.5
|
nm
|
9.1
|
0.6
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
96,064
|
2,008
|
-
|
98,072
|
|
84
|
25
|
-
|
109
|
|
0.1
|
1.3
|
-
|
0.1
|
AQ5-AQ8
|
53,609
|
14,018
|
-
|
67,627
|
|
309
|
420
|
-
|
729
|
|
0.6
|
3.0
|
-
|
1.1
|
AQ9
|
48
|
356
|
-
|
404
|
|
-
|
25
|
-
|
25
|
|
-
|
7.0
|
-
|
6.2
|
AQ10
|
-
|
-
|
2,163
|
2,163
|
|
-
|
-
|
818
|
818
|
|
-
|
-
|
37.8
|
37.8
|
|
149,721
|
16,382
|
2,163
|
168,266
|
|
393
|
470
|
818
|
1,681
|
|
0.3
|
2.9
|
37.8
|
1.0
|
|
Reverse repos
|
|
Repos
|
||||
|
|
Of which:
|
Outside netting
|
|
|
Of which:
|
Outside netting
|
|
Total
|
can be offset
|
arrangements
|
|
Total
|
can be offset
|
arrangements
|
30 June 2024
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Gross
|
77,085
|
77,000
|
85
|
|
74,623
|
73,535
|
1,088
|
IFRS offset
|
(32,309)
|
(32,309)
|
-
|
|
(32,309)
|
(32,309)
|
-
|
Carrying value
|
44,776
|
44,691
|
85
|
|
42,314
|
41,226
|
1,088
|
|
|
|
|
|
|
|
|
Master netting arrangements
|
(1,454)
|
(1,454)
|
-
|
|
(1,454)
|
(1,454)
|
-
|
Securities collateral
|
(42,965)
|
(42,965)
|
-
|
|
(39,772)
|
(39,772)
|
-
|
Potential for offset not recognised under IFRS
|
(44,419)
|
(44,419)
|
-
|
|
(41,226)
|
(41,226)
|
-
|
Net
|
357
|
272
|
85
|
|
1,088
|
-
|
1,088
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
Gross
|
77,508
|
77,050
|
458
|
|
66,767
|
66,047
|
720
|
IFRS offset
|
(25,903)
|
(25,903)
|
-
|
|
(25,903)
|
(25,903)
|
-
|
Carrying value
|
51,605
|
51,147
|
458
|
|
40,864
|
40,144
|
720
|
Master netting arrangements
|
(669)
|
(669)
|
-
|
|
(669)
|
(669)
|
-
|
Securities collateral
|
(50,287)
|
(50,287)
|
-
|
|
(39,475)
|
(39,475)
|
-
|
Potential for offset not recognised under IFRS
|
(50,956)
|
(50,956)
|
-
|
|
(40,144)
|
(40,144)
|
-
|
Net
|
649
|
191
|
458
|
|
720
|
-
|
720
|
|
30 June 2024
|
|
31 December 2023
|
||||||||
|
Notional
|
|
|
|
|
|
|
|
|||
|
GBP
|
USD
|
EUR
|
Other
|
Total
|
Assets
|
Liabilities
|
|
Notional
|
Assets
|
Liabilities
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£m
|
£m
|
|
£bn
|
£m
|
£m
|
Gross exposure
|
|
|
|
|
|
86,136
|
82,013
|
|
|
99,501
|
96,264
|
IFRS offset
|
|
|
|
|
|
(18,622)
|
(21,164)
|
|
|
(20,597)
|
(23,869)
|
Carrying value
|
3,378
|
3,188
|
5,651
|
1,191
|
13,408
|
67,514
|
60,849
|
|
13,403
|
78,904
|
72,395
|
Of which:
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate (1)
|
3,046
|
1,705
|
5,004
|
268
|
10,023
|
40,925
|
35,137
|
|
10,268
|
44,563
|
38,483
|
Exchange rate
|
331
|
1,478
|
637
|
923
|
3,369
|
26,446
|
25,442
|
|
3,120
|
34,161
|
33,586
|
Credit
|
1
|
5
|
10
|
-
|
16
|
143
|
270
|
|
15
|
180
|
326
|
Carrying value
|
|
|
|
|
13,408
|
67,514
|
60,849
|
|
13,403
|
78,904
|
72,395
|
Counterparty mark-to-market netting
|
|
|
|
|
|
(50,530)
|
(50,530)
|
|
|
(60,355)
|
(60,355)
|
Cash collateral
|
|
|
|
|
|
(11,296)
|
(5,650)
|
|
|
(12,284)
|
(6,788)
|
Securities collateral
|
|
|
|
|
|
(3,503)
|
(1,142)
|
|
|
(3,408)
|
(1,664)
|
Net exposure
|
|
|
|
|
|
2,185
|
3,527
|
|
|
2,857
|
3,588
|
Banks (2)
|
|
|
|
|
|
217
|
441
|
|
|
335
|
555
|
Other financial institutions (3)
|
|
|
|
|
|
1,117
|
1,260
|
|
|
1,422
|
1,304
|
Corporate (4)
|
|
|
|
|
|
815
|
1,808
|
|
|
1,063
|
1,690
|
Government (5)
|
|
|
|
|
|
36
|
18
|
|
|
37
|
39
|
Net exposure
|
|
|
|
|
|
2,185
|
3,527
|
|
|
2,857
|
3,588
|
UK
|
|
|
|
|
|
1,148
|
1,871
|
|
|
1,283
|
1,912
|
Europe
|
|
|
|
|
|
551
|
1,085
|
|
|
800
|
1,209
|
US
|
|
|
|
|
|
404
|
383
|
|
|
607
|
381
|
RoW
|
|
|
|
|
|
82
|
188
|
|
|
167
|
86
|
Net exposure
|
|
|
|
|
|
2,185
|
3,527
|
|
|
2,857
|
3,588
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset quality of uncollateralised derivative assets
|
|
|
|
|
|
|
|
|
|
|
|
AQ1-AQ4
|
|
|
|
|
|
1,871
|
|
|
|
2,382
|
|
AQ5-AQ8
|
|
|
|
|
|
312
|
|
|
|
471
|
|
AQ9-AQ10
|
|
|
|
|
|
2
|
|
|
|
4
|
|
Net exposure
|
|
|
|
|
|
2,185
|
|
|
|
2,857
|
|
|
Central and local government
|
Financial
|
|
|
||
|
UK
|
US
|
Other
|
institutions
|
Corporate
|
Total
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
£m
|
AAA
|
-
|
-
|
1,302
|
1,406
|
-
|
2,708
|
AA to AA+
|
-
|
5,507
|
45
|
672
|
12
|
6,236
|
A to AA-
|
5,170
|
-
|
2,049
|
504
|
378
|
8,101
|
BBB- to A-
|
-
|
-
|
1,250
|
465
|
645
|
2,360
|
Non-investment grade
|
-
|
-
|
-
|
153
|
178
|
331
|
Total
|
5,170
|
5,507
|
4,646
|
3,200
|
1,213
|
19,736
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
AAA
|
-
|
-
|
1,333
|
1,132
|
-
|
2,465
|
AA to AA+
|
-
|
2,600
|
19
|
762
|
4
|
3,385
|
A to AA-
|
2,729
|
-
|
1,017
|
251
|
283
|
4,280
|
BBB- to A-
|
-
|
-
|
693
|
295
|
489
|
1,477
|
Non-investment grade
|
-
|
-
|
-
|
198
|
149
|
347
|
Total
|
2,729
|
2,600
|
3,062
|
2,638
|
925
|
11,954
|
CET1 ratio
13.6%
(as at 31 December 2023 - 13.4%)
|
|
MREL
£57.3bn
(as at 31 December 2023 - £55.8bn)
|
|
RWAs
£180.8bn
(as at 31 December 2023 - £183.0bn)
|
The CET1 ratio increased by 20 basis points to 13.6%. The increase
in the CET1 ratio was due to a £2.2 billion decrease in RWAs
and a £0.2 billion increase in CET1 capital.
The CET1 capital increase was mainly driven by an attributable
profit to ordinary shareholders of £2.1 billion and other
movements on reserves and regulatory adjustments of £0.1
billion partially offset by a directed buyback of £1.2 billion
and a foreseeable ordinary dividend accrual of £0.8
billion.
|
|
Minimum Requirements of own funds and Eligible Liabilities
increased by £1.5 billion to £57.3 billion driven by a
£1.0 billion increase in Tier 1 capital and a £0.6
billion increase in MREL eligible Tier 2 capital. The increase in
capital was driven by issuance of $1.0 billion Additional Tier 1
capital and $1.0 billion Tier 2 capital in the period. There
was an immaterial decrease in senior unsecured debt following
redemption of a €0.8 billion debt instrument and a $2 billion
debt instrument offset by the issuance of USD debt instruments
totalling $2.8 billion.
|
|
Total RWAs decreased by £2.2 billion to £180.8 billion
during H1 2024 reflecting:
- a decrease in credit risk RWAs
of £2.7 billion, primarily due to active RWA management
partially offset by drawdowns and new facilities within Commercial
& Institutional.
- a decrease of £0.7
billion in counterparty credit risk driven by reduced
over-the-counter exposures and securities financing
transactions.
- a decrease in market risk RWAs
of £0.4 billion, predominantly driven by risk reduction
activity.
- an increase of £1.6
billion in operational risk RWAs following the annual recalculation
as a result of higher income compared to 2020.
|
UK leverage ratio
5.2%
(as at 31 December 2023 - 5.0%)
|
|
Liquidity portfolio
£227.0bn
(as at 31 December 2023 - £222.8bn)
|
|
LCR
151%
(as at 31 December 2023 - 144%)
|
|
NSFR
139%
(as at 31 December 2023 - 133%)
|
The leverage ratio increased by 20 basis points to 5.2%, driven by
a £1.0 billion increase in Tier 1 capital partially offset by
a £2.9 billion increase in leverage exposure. The key drivers
in the leverage exposure were an increase in other off- balance
sheet items partially offset by a decrease in other financial
assets.
|
|
The liquidity portfolio increased by £4.2 billion to
£227.0 billion. Primary liquidity increased by £12.3
billion to £160.4 billion, driven by an increase in customer
deposits and wholesale funding partly offset by capital
distributions (share buyback and dividends). Secondary liquidity
decreased £8.1 billion due to a decrease in pre-positioned
collateral at the Bank of England.
|
|
The Liquidity Coverage Ratio (LCR) increased by 7 percentage points
to 151%, during H1 2024, driven by an increase in customer deposits
partly offset by capital distributions (share buyback and
dividends).
|
|
The Net Stable Funding Ratio (NSFR) increased 6% to 139% driven by
increased customer deposits and increased wholesale
funding.
|
Type
|
CET1
|
Total Tier 1
|
Total capital
|
||
Pillar 1 requirements
|
4.5%
|
6.0%
|
8.0%
|
||
Pillar 2A requirements
|
1.8%
|
2.4%
|
3.2%
|
||
Minimum Capital Requirements
|
6.3%
|
8.4%
|
11.2%
|
||
Capital conservation buffer
|
2.5%
|
2.5%
|
2.5%
|
||
Countercyclical capital buffer (1)
|
1.7%
|
1.7%
|
1.7%
|
||
MDA threshold (2)
|
10.5%
|
|
n/a
|
|
n/a
|
Overall capital requirement
|
10.5%
|
12.6%
|
15.4%
|
||
Capital ratios at 30 June 2024
|
13.6%
|
16.2%
|
19.5%
|
||
Headroom (3,4)
|
3.1%
|
3.6%
|
4.1%
|
||
|
|
|
|
|
|
Type
|
CET1
|
Total Tier 1
|
Minimum ratio
|
2.44%
|
3.25%
|
Countercyclical leverage ratio buffer (1)
|
0.6%
|
0.6%
|
Total
|
3.04%
|
3.85%
|
|
30 June
|
31 December
|
|
2024
|
2023
|
Capital adequacy ratios (1)
|
%
|
%
|
CET1
|
13.6
|
13.4
|
Tier 1
|
16.2
|
15.5
|
Total
|
19.5
|
18.4
|
|
|
|
Capital
|
£m
|
£m
|
Tangible equity
|
25,241
|
25,653
|
|
|
|
Expected loss less impairment
|
(34)
|
-
|
Prudential valuation adjustment
|
(233)
|
(279)
|
Deferred tax assets
|
(822)
|
(979)
|
Own credit adjustments
|
19
|
(10)
|
Pension fund assets
|
(161)
|
(143)
|
Cash flow hedging reserve
|
1,812
|
1,899
|
Foreseeable ordinary dividends
|
(839)
|
(1,013)
|
Adjustment for trust assets (2)
|
(365)
|
(365)
|
Foreseeable charges
|
(50)
|
(525)
|
Adjustments under IFRS 9 transitional arrangements
|
39
|
202
|
Total regulatory adjustments
|
(634)
|
(1,213)
|
|
|
|
CET1 capital
|
24,607
|
24,440
|
|
|
|
Additional AT1 capital
|
4,670
|
3,875
|
Tier 1 capital
|
29,277
|
28,315
|
|
|
|
End-point Tier 2 capital
|
5,924
|
5,317
|
Tier 2 capital
|
5,924
|
5,317
|
Total regulatory capital
|
35,201
|
33,632
|
|
|
|
Risk-weighted assets
|
|
|
Credit risk
|
144,852
|
147,598
|
Counterparty credit risk
|
7,139
|
7,830
|
Market risk
|
6,956
|
7,363
|
Operational risk
|
21,821
|
20,198
|
Total RWAs
|
180,768
|
182,989
|
|
30 June
|
31 December
|
|
2024
|
2023
|
Leverage
|
£m
|
£m
|
Cash and balances at central banks
|
115,833
|
104,262
|
Trading assets
|
45,974
|
45,551
|
Derivatives
|
67,514
|
78,904
|
Financial assets
|
437,909
|
439,449
|
Other assets
|
22,116
|
23,605
|
Assets of disposal groups
|
992
|
902
|
Total assets
|
690,338
|
692,673
|
Derivatives
|
|
|
- netting and variation margin
|
(66,846)
|
(79,299)
|
- potential future exposures
|
16,829
|
17,212
|
Securities financing transactions gross up
|
1,645
|
1,868
|
Other off balance sheet items
|
55,003
|
50,961
|
Regulatory deductions and other adjustments
|
(15,782)
|
(16,043)
|
Claims on central banks
|
(112,377)
|
(100,735)
|
Exclusion of bounce back loans
|
(3,084)
|
(3,794)
|
UK leverage exposure
|
565,726
|
562,843
|
UK leverage ratio (%) (1)
|
5.2
|
5.0
|
|
CET1
|
AT1
|
Tier 2
|
Total
|
|
£m
|
£m
|
£m
|
£m
|
At 31 December 2023
|
24,440
|
3,875
|
5,317
|
33,632
|
Attributable profit for the period
|
2,099
|
-
|
-
|
2,099
|
Directed buyback
|
(1,241)
|
-
|
-
|
(1,241)
|
Foreseeable ordinary dividends
|
(839)
|
-
|
-
|
(839)
|
Foreign exchange reserve
|
(53)
|
-
|
-
|
(53)
|
FVOCI reserve
|
6
|
-
|
-
|
6
|
Own credit
|
29
|
-
|
-
|
29
|
Share capital and reserve movements in respect of employee share
schemes
|
143
|
-
|
-
|
143
|
Goodwill and intangibles deduction
|
24
|
-
|
-
|
24
|
Deferred tax assets
|
157
|
-
|
-
|
157
|
Prudential valuation adjustments
|
46
|
-
|
-
|
46
|
New issues of capital instruments
|
-
|
795
|
788
|
1,583
|
Redemption of capital instruments
|
-
|
-
|
(34)
|
(34)
|
Foreign exchange movements
|
-
|
-
|
(19)
|
(19)
|
Adjustment under IFRS 9 transitional arrangements
|
(163)
|
|
|
(163)
|
Expected loss less impairment
|
(34)
|
|
|
(34)
|
Other movements
|
(7)
|
-
|
(128)
|
(135)
|
At 30 June 2024
|
24,607
|
4,670
|
5,924
|
35,201
|
|
30 June
|
31 December
|
|
2024
|
2023
|
|
£m
|
£m
|
Shareholders' equity (excluding non-controlling
interests)
|
|
|
Shareholders' equity
|
37,521
|
37,157
|
Other equity instruments
|
(4,690)
|
(3,890)
|
|
32,831
|
33,267
|
Regulatory adjustments and deductions
|
|
|
Own credit
|
19
|
(10)
|
Defined benefit pension fund adjustment
|
(161)
|
(143)
|
Cash flow hedging reserve
|
1,812
|
1,899
|
Deferred tax assets
|
(822)
|
(979)
|
Prudential valuation adjustments
|
(233)
|
(279)
|
Goodwill and other intangible assets
|
(7,590)
|
(7,614)
|
Foreseeable ordinary dividends
|
(839)
|
(1,013)
|
Adjustment for trust assets (1)
|
(365)
|
(365)
|
Foreseeable charges
|
(50)
|
(525)
|
Adjustment under IFRS 9 transitional
arrangements
|
39
|
202
|
Expected loss less impairment
|
(34)
|
-
|
|
(8,224)
|
(8,827)
|
CET1 capital
|
24,607
|
24,440
|
Additional Tier 1 (AT1) capital
|
|
|
Qualifying instruments and related share premium
|
4,670
|
3,875
|
AT1 capital
|
4,670
|
3,875
|
Tier 1 capital
|
29,277
|
28,315
|
Qualifying Tier 2 capital
|
|
|
Qualifying instruments and related share premium
|
5,924
|
5,189
|
Other regulatory adjustments
|
-
|
128
|
Tier 2 capital
|
5,924
|
5,317
|
Total regulatory capital
|
35,201
|
33,632
|
|
30 June 2024
|
|
31 December 2023
|
||||||
|
|
Balance
|
Regulatory
|
MREL
|
|
|
Balance
|
Regulatory
|
MREL
|
|
Par value (1)
|
sheet value
|
value
|
value (2)
|
|
Par value
|
sheet value
|
value
|
value
|
|
£bn
|
£bn
|
£bn
|
£bn
|
|
£bn
|
£bn
|
£bn
|
£bn
|
CET1 capital (3)
|
24.6
|
24.6
|
24.6
|
24.6
|
|
24.4
|
24.4
|
24.4
|
24.4
|
Tier 1 capital: end-point CRR compliant AT1
|
|
|
|
|
|
|
|
|
|
of which: NatWest Group plc (holdco)
|
4.7
|
4.7
|
4.7
|
4.7
|
|
3.9
|
3.9
|
3.9
|
3.9
|
of which: NatWest Group plc
operating subsidiaries (opcos)
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
4.7
|
4.7
|
4.7
|
4.7
|
|
3.9
|
3.9
|
3.9
|
3.9
|
Tier 1 capital: end-point CRR non-compliant
|
|
|
|
|
|
|
|
|
|
of which: holdco
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
of which: opcos
|
0.1
|
0.1
|
-
|
-
|
|
0.1
|
0.1
|
-
|
-
|
|
0.1
|
0.1
|
-
|
-
|
|
0.1
|
0.1
|
-
|
-
|
Tier 2 capital: end-point CRR compliant
|
|
|
|
|
|
|
|
|
|
of which: holdco
|
5.9
|
5.6
|
5.9
|
5.9
|
|
5.6
|
5.3
|
5.2
|
5.2
|
of which: opcos
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
|
5.9
|
5.6
|
5.9
|
5.9
|
|
5.6
|
5.3
|
5.2
|
5.2
|
Tier 2 capital: end-point CRR non-compliant
|
|
|
|
|
|
|
|
|
|
of which: holdco
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
-
|
of which: opcos
|
0.2
|
0.3
|
-
|
-
|
|
0.2
|
0.3
|
-
|
-
|
|
0.2
|
0.3
|
-
|
-
|
|
0.2
|
0.3
|
-
|
-
|
Senior unsecured debt securities
|
|
|
|
|
|
|
|
|
|
of which: holdco
|
22.1
|
21.4
|
-
|
22.1
|
|
22.2
|
21.7
|
-
|
22.2
|
of which: opcos (4)
|
34.0
|
33.5
|
-
|
-
|
|
33.4
|
29.9
|
-
|
-
|
|
56.1
|
54.9
|
-
|
22.1
|
|
55.6
|
51.6
|
-
|
22.2
|
Tier 2 capital
|
|
|
|
|
|
|
|
|
|
Other regulatory adjustments
|
-
|
-
|
-
|
-
|
|
-
|
-
|
0.1
|
0.1
|
|
|
|
|
|
|
|
|
|
|
Total
|
91.6
|
90.2
|
35.2
|
57.3
|
|
89.8
|
85.6
|
33.6
|
55.8
|
RWAs
|
|
|
|
180.8
|
|
|
|
|
183.0
|
UK leverage exposure
|
|
|
|
565.7
|
|
|
|
|
562.8
|
MREL as a ratio of RWAs
|
|
|
|
31.7%
|
|
|
|
|
30.5%
|
MREL as a ratio of UK leverage exposure
|
|
|
|
10.1%
|
|
|
|
|
9.9%
|
(1)
|
Par value reflects the nominal value of securities
issued.
|
(2)
|
MREL value reflects NatWest Group's interpretation of the Bank of
England's approach to setting a MREL, published in December 2021
(Updating June 2018). Liabilities excluded from MREL include
instruments with less than one year remaining to maturity,
structured debt, operating company senior debt, and other
instruments that do not meet the MREL criteria. The MREL
calculation includes Tier 1 and Tier 2 securities before the
application of any regulatory caps or adjustments.
|
(3)
|
Shareholders' equity was £37.5 billion (2023 - £37.2
billion).
|
(4)
|
As per 2023, Intra group issuances were reported in "Par value" but
on further clarification from Bank of England, it has been excluded
from reporting in 2024.
|
|
|
|
NatWest
|
|
|
|
NatWest
|
NWM
|
RBS
|
|
|
NatWest
|
Holdings
|
NWB
|
RBS
|
NWM
|
Markets
|
Securities
|
International
|
|
|
Group plc
|
Limited
|
Plc
|
plc
|
Plc
|
N.V.
|
Inc.
|
Limited
|
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
Additional Tier 1
|
Externally issued
|
4.7
|
-
|
0.1
|
-
|
-
|
-
|
-
|
-
|
Additional Tier 1
|
Internally issued
|
-
|
3.9
|
3.3
|
0.5
|
0.9
|
0.2
|
-
|
0.3
|
|
|
4.7
|
3.9
|
3.4
|
0.5
|
0.9
|
0.2
|
-
|
0.3
|
Tier 2
|
Externally issued
|
5.6
|
-
|
-
|
-
|
0.0
|
0.2
|
-
|
-
|
Tier 2
|
Internally issued
|
0.0
|
5.2
|
3.6
|
0.9
|
1.1
|
0.1
|
0.3
|
-
|
|
|
5.6
|
5.2
|
3.6
|
0.9
|
1.1
|
0.3
|
0.3
|
-
|
Senior unsecured
|
Externally issued
|
21.4
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Senior unsecured
|
Internally issued
|
-
|
11.0
|
6.5
|
1.1
|
3.5
|
-
|
-
|
0.3
|
|
|
21.4
|
11.0
|
6.5
|
1.1
|
3.5
|
-
|
-
|
0.3
|
Total outstanding issuance
|
31.7
|
20.1
|
13.5
|
2.5
|
5.5
|
0.5
|
0.3
|
0.6
|
|
|
Counterparty
|
|
Operational
|
|
|
Credit risk
|
credit risk
|
Market risk
|
risk
|
Total
|
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
At 31 December 2023
|
147.6
|
7.8
|
7.4
|
20.2
|
183.0
|
Foreign exchange movement
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
Business movement
|
(2.2)
|
(0.6)
|
(0.4)
|
1.6
|
(1.6)
|
Risk parameter changes
|
(0.1)
|
(0.1)
|
-
|
-
|
(0.2)
|
Model updates
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
Other changes
|
-
|
-
|
-
|
-
|
-
|
At 30 June 2024
|
144.9
|
7.1
|
7.0
|
21.8
|
180.8
|
|
|
|
|
|
Total
|
|
Retail
|
Private
|
Commercial &
|
Central items
|
NatWest
|
|
Banking
|
Banking
|
Institutional
|
& other (1)
|
Group
|
Total RWAs
|
£bn
|
£bn
|
£bn
|
£bn
|
£bn
|
At 31 December 2023
|
61.6
|
11.2
|
107.4
|
2.8
|
183.0
|
Foreign exchange movement
|
-
|
-
|
(0.2)
|
-
|
(0.2)
|
Business movement
|
0.7
|
(0.2)
|
(1.9)
|
(0.2)
|
(1.6)
|
Risk parameter changes
|
0.2
|
-
|
(0.4)
|
-
|
(0.2)
|
Model updates
|
(0.2)
|
-
|
-
|
-
|
(0.2)
|
At 30 June 2024
|
62.3
|
11.0
|
104.9
|
2.6
|
180.8
|
|
-
|
-
|
-
|
-
|
-
|
Credit risk
|
53.9
|
9.5
|
79.4
|
2.1
|
144.9
|
Counterparty credit risk
|
0.2
|
-
|
6.9
|
-
|
7.1
|
Market risk
|
0.1
|
-
|
6.9
|
-
|
7.0
|
Operational risk
|
8.1
|
1.5
|
11.7
|
0.5
|
21.8
|
Total RWAs
|
62.3
|
11.0
|
104.9
|
2.6
|
180.8
|
|
|
|
|
|
|
|
30 June 2024
|
|
31 December 2023
|
||||
|
Short-term
|
Long-term
|
|
|
Short-term
|
Long-term
|
|
|
less than
|
more than
|
|
|
less than
|
more than
|
|
|
1 year
|
1 year
|
Total
|
|
1 year
|
1 year
|
Total
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Bank deposits
|
|
|
|
|
|
|
|
Repos
|
5,897
|
-
|
5,897
|
|
3,118
|
-
|
3,118
|
Other bank deposits (1)
|
5,965
|
13,764
|
19,729
|
|
5,836
|
13,236
|
19,072
|
|
11,862
|
13,764
|
25,626
|
|
8,954
|
13,236
|
22,190
|
Customer deposits
|
|
|
|
|
|
|
|
Repos
|
6,846
|
-
|
6,846
|
|
10,844
|
-
|
10,844
|
Non-bank financial institutions
|
48,784
|
34
|
48,818
|
|
46,875
|
13
|
46,888
|
Personal
|
221,498
|
6,255
|
227,753
|
|
216,456
|
6,436
|
222,892
|
Corporate
|
149,448
|
110
|
149,558
|
|
150,718
|
35
|
150,753
|
|
426,576
|
6,399
|
432,975
|
|
424,893
|
6,484
|
431,377
|
Trading liabilities (2)
|
|
|
|
|
|
|
|
Repos (3)
|
29,021
|
300
|
29,321
|
|
26,634
|
268
|
26,902
|
Derivative collateral
|
14,030
|
-
|
14,030
|
|
15,075
|
-
|
15,075
|
Other bank customer deposits
|
478
|
322
|
800
|
|
768
|
382
|
1,150
|
Debt securities in issue - Medium term
notes
|
80
|
227
|
307
|
|
418
|
288
|
706
|
|
43,609
|
849
|
44,458
|
|
42,895
|
938
|
43,833
|
Other financial liabilities
|
|
|
|
|
|
|
|
Customer deposits
|
461
|
1,188
|
1,649
|
|
194
|
1,086
|
1,280
|
Debt securities in issue:
|
-
|
-
|
-
|
|
|
|
|
Commercial paper and
certificates of deposit
|
12,023
|
362
|
12,385
|
|
11,116
|
205
|
11,321
|
Medium term notes
|
6,811
|
35,459
|
42,270
|
|
6,878
|
32,625
|
39,503
|
Covered bonds
|
-
|
749
|
749
|
|
2,122
|
-
|
2,122
|
Securitisation (5)
|
-
|
1,222
|
1,222
|
|
-
|
863
|
863
|
|
19,295
|
38,980
|
58,275
|
|
20,310
|
34,779
|
55,089
|
Subordinated liabilities
|
1,593
|
4,439
|
6,032
|
|
1,047
|
4,667
|
5,714
|
Total funding
|
502,935
|
64,431
|
567,366
|
|
498,099
|
60,104
|
558,203
|
Of which: available in
resolution (4)
|
|
|
27,061
|
|
|
|
26,561
|
|
Liquidity value
|
||||||
|
30 June 2024
|
|
31 December 2023
|
||||
|
NatWest
|
NWH
|
UK DoL
|
|
NatWest
|
NWH
|
UK DoL
|
|
Group (1)
|
Group (2)
|
Sub
|
|
Group (1)
|
Group (2)
|
Sub
|
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Cash and balances at central banks
|
111,763
|
73,408
|
72,895
|
|
99,855
|
68,495
|
67,954
|
High quality government/MDB/PSE and GSE bonds (4)
|
35,616
|
26,253
|
26,253
|
|
36,250
|
26,510
|
26,510
|
Extremely high quality covered bonds
|
3,892
|
3,892
|
3,892
|
|
4,164
|
4,164
|
4,164
|
LCR level 1 assets
|
151,271
|
103,553
|
103,040
|
|
140,269
|
99,169
|
98,628
|
LCR level 2 Eligible Assets (5)
|
9,124
|
7,897
|
7,897
|
|
7,796
|
7,320
|
7,320
|
Primary liquidity (HQLA) (6)
|
160,395
|
111,450
|
110,937
|
|
148,065
|
106,489
|
105,948
|
Secondary liquidity
|
66,589
|
66,559
|
66,559
|
|
74,722
|
74,683
|
74,683
|
Total liquidity value
|
226,984
|
178,009
|
177,496
|
|
222,787
|
181,172
|
180,631
|
|
Half year ended
|
|||||||||||||
|
30 June 2024
|
|
30 June 2023
|
|
31 December 2023
|
|||||||||
|
|
|
|
Period
|
|
|
|
|
Period
|
|
|
|
|
Period
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Interest rate
|
24.1
|
28.2
|
17.6
|
17.6
|
|
40.5
|
63.2
|
30.1
|
63.2
|
|
38.0
|
63.2
|
24.6
|
24.6
|
Credit spread
|
55.6
|
60.2
|
50.7
|
50.7
|
|
23.6
|
29.7
|
20.9
|
29.7
|
|
33.1
|
54.2
|
20.9
|
54.2
|
Structural foreign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
exchange rate
|
9.2
|
12.3
|
7.1
|
12.3
|
|
11.3
|
13.6
|
8.4
|
12.3
|
|
11.2
|
13.6
|
8.4
|
12.1
|
Equity
|
9.3
|
10.3
|
8.2
|
8.2
|
|
16.7
|
19.0
|
13.0
|
13.0
|
|
14.2
|
19.0
|
10.4
|
10.4
|
Pipeline risk (1)
|
5.9
|
12.7
|
3.4
|
12.7
|
|
3.1
|
4.4
|
1.4
|
3.4
|
|
3.3
|
7.1
|
1.4
|
7.1
|
Diversification (2)
|
(41.1)
|
|
|
(39.7)
|
|
(35.3)
|
|
|
(38.1)
|
|
(34.4)
|
|
|
(29.9)
|
Total
|
63.0
|
73.8
|
52.9
|
61.8
|
|
59.9
|
83.5
|
52.1
|
83.5
|
|
65.4
|
83.4
|
52.1
|
78.5
|
|
Half year ended
|
||||||||||||||||
|
30 June 2024
|
|
30 June 2023
|
|
31 December 2023
|
||||||||||||
|
|
|
Period
|
|
|
|
|
|
Period
|
|
|
|
|
|
Period
|
|
|
|
Incremental
|
Hedge
|
-end
|
Average
|
Total
|
|
Incremental
|
Hedge
|
-end
|
Average
|
Total
|
|
Incremental
|
Hedge
|
-end
|
Average
|
Total
|
|
income
|
income
|
notional
|
notional
|
yield
|
|
income
|
income
|
notional
|
notional
|
yield
|
|
income
|
income
|
notional
|
notional
|
yield
|
|
£m
|
£m
|
£bn
|
£bn
|
%
|
|
£m
|
£m
|
£bn
|
£bn
|
%
|
|
£m
|
£m
|
£bn
|
£bn
|
%
|
Equity
|
(364)
|
218
|
22
|
22
|
1.95
|
|
(246)
|
204
|
23
|
22
|
1.83
|
|
(365)
|
214
|
22
|
23
|
1.91
|
Product
|
(3,184)
|
1,392
|
175
|
176
|
1.58
|
|
(2,773)
|
1,362
|
202
|
205
|
1.33
|
|
(3,548)
|
1,460
|
185
|
193
|
1.51
|
Total
|
(3,548)
|
1,610
|
197
|
198
|
1.62
|
|
(3,019)
|
1,566
|
225
|
227
|
1.38
|
|
(3,913)
|
1,674
|
207
|
216
|
1.56
|
|
Half year ended
|
||
|
30 June
|
30 June
|
31 December
|
|
2024
|
2023
|
2023
|
|
£m
|
£m
|
£m
|
Retail Banking
|
(1,354)
|
(1,156)
|
(1,488)
|
Commercial & Institutional
|
(1,617)
|
(1,415)
|
(1,798)
|
Private Banking & Other
|
(212)
|
(202)
|
(262)
|
Total
|
(3,184)
|
(2,773)
|
(3,548)
|
|
+25 basis points upward shift
|
|
-25 basis points downward shift
|
||||
|
Year 1
|
Year 2
|
Year 3
|
|
Year 1
|
Year 2
|
Year 3
|
30 June 2024
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
Structural hedges
|
42
|
129
|
216
|
|
(42)
|
(129)
|
(216)
|
Managed margin
|
93
|
97
|
110
|
|
(125)
|
(107)
|
(110)
|
Total
|
135
|
226
|
326
|
|
(167)
|
(236)
|
(326)
|
|
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
|
|
Structural hedges
|
44
|
138
|
227
|
|
(44)
|
(138)
|
(227)
|
Managed margin
|
120
|
117
|
114
|
|
(125)
|
(121)
|
(105)
|
Total
|
164
|
255
|
341
|
|
(169)
|
(259)
|
(332)
|
(1)
|
Earnings sensitivity considers only the main drivers, namely
structural hedging and margin management.
|
|
Shifts in yield curve
|
||||||||
|
30 June 2024
|
|
31 December 2023
|
||||||
|
+25 basis
|
-25 basis
|
+100 basis
|
-100 basis
|
|
+25 basis
|
-25 basis
|
+100 basis
|
-100 basis
|
|
points
|
points
|
points
|
points
|
|
points
|
points
|
points
|
points
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Euro
|
1
|
(5)
|
5
|
(16)
|
|
7
|
(11)
|
38
|
(45)
|
Sterling
|
121
|
(149)
|
487
|
(614)
|
|
138
|
(139)
|
504
|
(577)
|
US dollar
|
10
|
(9)
|
46
|
(47)
|
|
14
|
(14)
|
54
|
(56)
|
Other
|
3
|
(4)
|
13
|
(15)
|
|
5
|
(5)
|
21
|
(22)
|
Total
|
135
|
(167)
|
551
|
(692)
|
|
164
|
(169)
|
617
|
(700)
|
|
|
|
Structural foreign
|
|
Residual
|
|
Net investments in
|
Net investment
|
currency exposures
|
Economic
|
structural foreign
|
|
foreign operations
|
in hedges
|
pre-economic hedges
|
hedges (1)
|
currency exposures
|
30 June 2024
|
£m
|
£m
|
£m
|
£m
|
£m
|
US dollar
|
1,201
|
-
|
1,201
|
(1,201)
|
-
|
Euro
|
4,345
|
(2,649)
|
1,696
|
-
|
1,696
|
Other non-sterling
|
864
|
(386)
|
478
|
-
|
478
|
Total
|
6,410
|
(3,035)
|
3,375
|
(1,201)
|
2,174
|
|
|
|
|
|
|
31 December 2023
|
|
|
|
|
|
US dollar
|
1,185
|
(228)
|
957
|
(957)
|
-
|
Euro
|
4,475
|
(2,585)
|
1,890
|
-
|
1,890
|
Other non-sterling
|
963
|
(429)
|
534
|
-
|
534
|
Total
|
6,623
|
(3,242)
|
3,381
|
(957)
|
2,424
|
|
Half year ended
|
|||||||||||||
|
30 June 2024
|
|
30 June 2023
|
|
31 December 2023
|
|||||||||
|
|
|
|
Period
|
|
|
|
|
Period
|
|
|
|
|
Period
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
Average
|
Maximum
|
Minimum
|
end
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
|
£m
|
£m
|
£m
|
£m
|
Interest rate
|
6.7
|
12.0
|
3.6
|
6.6
|
|
9.0
|
19.3
|
4.3
|
16.5
|
|
10.5
|
17.3
|
4.4
|
7.4
|
Credit spread
|
8.1
|
10.1
|
6.7
|
7.6
|
|
5.9
|
6.9
|
4.9
|
6.1
|
|
6.4
|
7.1
|
5.3
|
6.8
|
Currency
|
2.1
|
6.7
|
0.8
|
1.9
|
|
2.1
|
4.9
|
1.0
|
1.5
|
|
2.4
|
7.0
|
0.9
|
1.8
|
Equity
|
0.1
|
0.1
|
0.1
|
0.1
|
|
-
|
0.1
|
-
|
-
|
|
-
|
0.1
|
-
|
0.1
|
Diversification (1)
|
(6.8)
|
|
|
(5.5)
|
|
(6.8)
|
|
|
(6.3)
|
|
(6.9)
|
|
|
(7.2)
|
Total
|
10.2
|
16.2
|
7.0
|
10.7
|
|
10.2
|
17.8
|
6.6
|
17.8
|
|
12.4
|
20.0
|
8.4
|
8.9
|
|
NATWEST
GROUP plc (Registrant)
|
|
|
|
By: /s/
Jan Cargill
|
|
|
|
Name:
Jan Cargill
|
|
Title:
Chief Governance Officer and Company Secretary
|
1 Year NatWest (PK) Chart |
1 Month NatWest (PK) Chart |
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