Credit Risk (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Disclosure of credit risk exposure [abstract] |
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Disclosure of loans and advances at amortised cost by geography and by product |
Total loans and advances at amortised cost in the credit risk section includes loans and advances at amortised cost to banks and loans and advances at amortised cost to customers. The table below presents a product and geographical breakdown of loans and advances at amortised cost and the impairment allowance by stage; and includes purchased or originated credit-impaired (POCI) balances. POCI balances represent a fixed pool of assets purchased at a deep discount to face value reflecting credit losses incurred from the point of origination to date of acquisition. The table also presents stage allocation of debt securities and off-balance sheet loan commitments and financial guarantee contracts. The impairment allowance under IFRS 9 considers both the drawn and the undrawn counterparty exposure. For retail portfolios, the total impairment allowance is allocated to gross loans and advances to the extent allowance does not exceed the drawn exposure and any excess is reported on the liabilities side of the balance sheet as a provision. For wholesale portfolios, impairment allowance on undrawn exposure is reported on the liability side of the balance sheet as a provision. . | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross exposure | | Impairment allowance | | | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | | As at 30.06.25 | £m | £m | £m | £m | £m | | £m | £m | £m | £m | £m | | | Retail mortgages | 151,153 | 17,151 | 1,721 | — | 170,025 | | 35 | 59 | 64 | — | 158 | | | Retail credit cards | 13,793 | 2,401 | 233 | 28 | 16,455 | | 160 | 441 | 136 | — | 737 | | | Retail other | 10,001 | 1,433 | 272 | 14 | 11,720 | | 99 | 151 | 182 | — | 432 | | | Corporate loans1 | 53,565 | 7,247 | 1,723 | — | 62,535 | | 135 | 215 | 418 | — | 768 | | | Total UK | 228,512 | 28,232 | 3,949 | 42 | 260,735 | | 429 | 866 | 800 | — | 2,095 | | | Retail mortgages | 1,708 | 74 | 163 | — | 1,945 | | 2 | — | 20 | — | 22 | | | Retail credit cards | 15,975 | 2,663 | 1,615 | — | 20,253 | | 297 | 751 | 1,323 | — | 2,371 | | | Retail other | 2,244 | 167 | 130 | — | 2,541 | | 4 | 2 | 17 | — | 23 | | | Corporate loans | 62,334 | 3,704 | 1,262 | — | 67,300 | | 81 | 141 | 213 | — | 435 | | | Total Rest of the World | 82,261 | 6,608 | 3,170 | — | 92,039 | | 384 | 894 | 1,573 | — | 2,851 | | | Total loans and advances at amortised cost | 310,773 | 34,840 | 7,119 | 42 | 352,774 | | 813 | 1,760 | 2,373 | — | 4,946 | | | Debt securities at amortised cost | 69,252 | 708 | — | — | 69,960 | | 12 | 12 | — | — | 24 | | | Total loans and advances at amortised cost including debt securities | 380,025 | 35,548 | 7,119 | 42 | 422,734 | | 825 | 1,772 | 2,373 | — | 4,970 | | | Off-balance sheet loan commitments and financial guarantee contracts2 | 398,675 | 17,054 | 943 | 5 | 416,677 | | 164 | 239 | 22 | — | 425 | | | Total3,4 | 778,700 | 52,602 | 8,062 | 47 | 839,411 | | 989 | 2,011 | 2,395 | — | 5,395 | | | | | | | | | | | | | | | | | | | | | | | | Net exposure | | Coverage ratio | | | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | | As at 30.06.25 | £m | £m | £m | £m | £m | | % | % | % | % | % | | | Retail mortgages | 151,118 | 17,092 | 1,657 | — | 169,867 | | — | | 0.3 | | 3.7 | | — | | 0.1 | | | | Retail credit cards | 13,633 | 1,960 | 97 | 28 | 15,718 | | 1.2 | | 18.4 | | 58.4 | | — | | 4.5 | | | | Retail other | 9,902 | 1,282 | 90 | 14 | 11,288 | | 1.0 | | 10.5 | | 66.9 | | — | | 3.7 | | | | Corporate loans1 | 53,430 | 7,032 | 1,305 | — | 61,767 | | 0.3 | | 3.0 | | 24.3 | | — | | 1.2 | | | | Total UK | 228,083 | 27,366 | 3,149 | 42 | 258,640 | | 0.2 | | 3.1 | | 20.3 | | — | | 0.8 | | | | Retail mortgages | 1,706 | 74 | 143 | — | 1,923 | | 0.1 | | — | | 12.3 | | — | | 1.1 | | | | Retail credit cards | 15,678 | 1,912 | 292 | — | 17,882 | | 1.9 | | 28.2 | | 81.9 | | — | | 11.7 | | | | Retail other | 2,240 | 165 | 113 | — | 2,518 | | 0.2 | | 1.2 | | 13.1 | | — | | 0.9 | | | | Corporate loans | 62,253 | 3,563 | 1,049 | — | 66,865 | | 0.1 | | 3.8 | | 16.9 | | — | | 0.6 | | | | Total Rest of the World | 81,877 | 5,714 | 1,597 | — | 89,188 | | 0.5 | | 13.5 | | 49.6 | | — | | 3.1 | | | | Total loans and advances at amortised cost | 309,960 | 33,080 | 4,746 | 42 | 347,828 | | 0.3 | | 5.1 | | 33.3 | | — | | 1.4 | | | | Debt securities at amortised cost | 69,240 | 696 | — | — | 69,936 | | — | | 1.7 | | — | | — | | — | | | | Total loans and advances at amortised cost including debt securities | 379,200 | 33,776 | 4,746 | 42 | 417,764 | | 0.2 | | 5.0 | | 33.3 | | — | | 1.2 | | | | Off-balance sheet loan commitments and financial guarantee contracts2 | 398,511 | 16,815 | 921 | 5 | 416,252 | | — | | 1.4 | | 2.3 | | — | | 0.1 | | | | Total3,4 | 777,711 | 50,591 | 5,667 | 47 | 834,016 | | 0.1 | | 3.8 | | 29.7 | | — | | 0.6 | | | |
1Includes Business Banking, which has a gross exposure of £12.7bn and an impairment allowance of £346m. This comprises £61m impairment allowance on £8.8bn Stage 1 exposure, £62m on £2.8bn Stage 2 exposure and £223m on £1.1bn Stage 3 exposure. Excluding this, total coverage for corporate loans in UK is 0.8%. 2Excludes loan commitments and financial guarantees of £18.8bn carried at fair value. 3Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a total gross exposure of £239.2bn and an impairment allowance of £150m. This comprises £23m impairment allowance on £238.2bn Stage 1 exposure, £4m on £0.9bn Stage 2 exposure and £123m on £128m Stage 3 exposure. 4The annualised loan loss rate is 52bps after applying the total impairment charge of £1,112m. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross exposure | | Impairment allowance | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | As at 31.12.24 | £m | £m | £m | £m | £m | | £m | £m | £m | £m | £m | Retail mortgages | 145,039 | 19,507 | 1,793 | — | 166,339 | | 36 | 61 | 61 | — | 158 | Retail credit cards | 13,497 | 2,064 | 179 | 40 | 15,780 | | 219 | 440 | 91 | — | 750 | Retail other | 10,606 | 1,218 | 257 | 17 | 12,098 | | 135 | 110 | 138 | — | 383 | Corporate loans1 | 52,284 | 7,266 | 2,171 | — | 61,721 | | 133 | 196 | 420 | — | 749 | Total UK | 221,426 | 30,055 | 4,400 | 57 | 255,938 | | 523 | 807 | 710 | — | 2,040 | Retail mortgages | 1,651 | 89 | 169 | — | 1,909 | | 2 | 1 | 26 | — | 29 | Retail credit cards | 17,629 | 2,953 | 1,724 | — | 22,306 | | 334 | 807 | 1,416 | — | 2,557 | Retail other | 1,844 | 155 | 121 | — | 2,120 | | 3 | 1 | 23 | — | 27 | Corporate loans | 64,224 | 3,901 | 945 | — | 69,070 | | 76 | 135 | 206 | — | 417 | Total Rest of the World | 85,348 | 7,098 | 2,959 | — | 95,405 | | 415 | 944 | 1,671 | — | 3,030 | Total loans and advances at amortised cost | 306,774 | 37,153 | 7,359 | 57 | 351,343 | | 938 | 1,751 | 2,381 | — | 5,070 | Debt securities at amortised cost | 64,988 | 3,245 | — | — | 68,233 | | 12 | 11 | — | — | 23 | Total loans and advances at amortised cost including debt securities | 371,762 | 40,398 | 7,359 | 57 | 419,576 | | 950 | 1,762 | 2,381 | — | 5,093 | Off-balance sheet loan commitments and financial guarantee contracts2 | 412,255 | 18,728 | 1,168 | 6 | 432,157 | | 164 | 250 | 25 | — | 439 | Total3,4 | 784,017 | 59,126 | 8,527 | 63 | 851,733 | | 1,114 | 2,012 | 2,406 | — | 5,532 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net exposure | | Coverage ratio | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | As at 31.12.24 | £m | £m | £m | £m | £m | | % | % | % | % | % | Retail mortgages | 145,003 | 19,446 | 1,732 | — | 166,181 | | — | | 0.3 | | 3.4 | | — | | 0.1 | | Retail credit cards | 13,278 | 1,624 | 88 | 40 | 15,030 | | 1.6 | | 21.3 | | 50.8 | | — | | 4.8 | | Retail other | 10,471 | 1,108 | 119 | 17 | 11,715 | | 1.3 | | 9.0 | | 53.7 | | — | | 3.2 | | Corporate loans1 | 52,151 | 7,070 | 1,751 | — | 60,972 | | 0.3 | | 2.7 | | 19.3 | | — | | 1.2 | | Total UK | 220,903 | 29,248 | 3,690 | 57 | 253,898 | | 0.2 | | 2.7 | | 16.1 | | — | | 0.8 | | Retail mortgages | 1,649 | 88 | 143 | — | 1,880 | | 0.1 | | 1.1 | | 15.4 | | — | | 1.5 | | Retail credit cards | 17,295 | 2,146 | 308 | — | 19,749 | | 1.9 | | 27.3 | | 82.1 | | — | | 11.5 | | Retail other | 1,841 | 154 | 98 | — | 2,093 | | 0.2 | | 0.6 | | 19.0 | | — | | 1.3 | | Corporate loans | 64,148 | 3,766 | 739 | — | 68,653 | | 0.1 | | 3.5 | | 21.8 | | — | | 0.6 | | Total Rest of the World | 84,933 | 6,154 | 1,288 | — | 92,375 | | 0.5 | | 13.3 | | 56.5 | | — | | 3.2 | | Total loans and advances at amortised cost | 305,836 | 35,402 | 4,978 | 57 | 346,273 | | 0.3 | | 4.7 | | 32.4 | | — | | 1.4 | | Debt securities at amortised cost | 64,976 | 3,234 | — | — | 68,210 | | — | | 0.3 | | — | | — | | — | | Total loans and advances at amortised cost including debt securities | 370,812 | 38,636 | 4,978 | 57 | 414,483 | | 0.3 | | 4.4 | | 32.4 | | — | | 1.2 | | Off-balance sheet loan commitments and financial guarantee contracts2 | 412,091 | 18,478 | 1,143 | 6 | 431,718 | | — | | 1.3 | | 2.1 | | — | | 0.1 | | Total3,4 | 782,903 | 57,114 | 6,121 | 63 | 846,201 | | 0.1 | | 3.4 | | 28.2 | | — | | 0.6 | |
1Includes Business Banking, which has a gross exposure of £13.1bn and an impairment allowance of £356m. This comprises £60m impairment allowance on £8.9bn Stage 1 exposure, £60m on £2.8bn Stage 2 exposure and £236m on £1.5bn Stage 3 exposure. Excluding this, total coverage for corporate loans in UK is 0.8%. 2Excludes loan commitments and financial guarantees of £16.3bn carried at fair value and includes exposures relating to financial assets classified as assets held for sale. 3Other financial assets subject to impairment excluded in the table above include cash collateral and settlement balances, reverse repurchase agreements and other similar secured lending, financial assets at fair value through other comprehensive income and other assets. These have a total gross exposure of £204.2bn and an impairment allowance of £156m. This comprises £19m impairment allowance on £202.7bn Stage 1 exposure, £7m on £1.3bn Stage 2 exposure and £130m on £139m Stage 3 exposure. 4The annualised loan loss rate is 46bps after applying the total impairment charge of £1,982m. Loans and advances at amortised cost by product The table below presents a product breakdown by stages of loans and advances at amortised cost. Also included is a breakdown of Stage 2 past due balances. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Stage 2 | | | | As at 30.06.25 | Stage 1 | Not past due | <=30 days past due | >30 days past due | Total | Stage 3 excluding POCI | Stage 3 POCI | Total | Gross exposure | £m | £m | £m | £m | £m | £m | £m | £m | Retail mortgages | 152,861 | | 14,293 | | 2,149 | | 783 | | 17,225 | | 1,884 | | — | | 171,970 | | Retail credit cards | 29,768 | | 4,518 | | 292 | | 254 | | 5,064 | | 1,848 | | 28 | | 36,708 | | Retail other | 12,245 | | 1,337 | | 187 | | 76 | | 1,600 | | 402 | | 14 | | 14,261 | | Corporate loans | 115,899 | | 10,778 | | 79 | | 94 | | 10,951 | | 2,985 | | — | | 129,835 | | Total | 310,773 | | 30,926 | | 2,707 | | 1,207 | | 34,840 | | 7,119 | | 42 | | 352,774 | | | | | | | | | | | Impairment allowance | | | | | | | | | Retail mortgages | 37 | | 29 | | 17 | | 13 | | 59 | | 84 | | — | | 180 | | Retail credit cards | 457 | | 940 | | 111 | | 141 | | 1,192 | | 1,459 | | — | | 3,108 | | Retail other | 103 | | 104 | | 24 | | 25 | | 153 | | 199 | | — | | 455 | | Corporate loans | 216 | | 343 | | 5 | | 8 | | 356 | | 631 | | — | | 1,203 | | Total | 813 | | 1,416 | | 157 | | 187 | | 1,760 | | 2,373 | | — | 4,946 | | | | | | | | | | | Net exposure | | | | | | | | | Retail mortgages | 152,824 | | 14,264 | | 2,132 | | 770 | | 17,166 | | 1,800 | | — | | 171,790 | | Retail credit cards | 29,311 | | 3,578 | | 181 | | 113 | | 3,872 | | 389 | | 28 | | 33,600 | | Retail other | 12,142 | | 1,233 | | 163 | | 51 | | 1,447 | | 203 | | 14 | | 13,806 | | Corporate loans | 115,683 | | 10,435 | | 74 | | 86 | | 10,595 | | 2,354 | | — | | 128,632 | | Total | 309,960 | | 29,510 | | 2,550 | | 1,020 | | 33,080 | | 4,746 | | 42 | | 347,828 | | | | | | | | | | | Coverage ratio | % | % | % | % | % | % | % | % | Retail mortgages | — | | 0.2 | | 0.8 | | 1.7 | | 0.3 | | 4.5 | | — | | 0.1 | | Retail credit cards | 1.5 | | 20.8 | | 38.0 | | 55.5 | | 23.5 | | 79.0 | | — | | 8.5 | | Retail other | 0.8 | | 7.8 | | 12.8 | | 32.9 | | 9.6 | | 49.5 | | — | | 3.2 | | Corporate loans | 0.2 | | 3.2 | | 6.3 | | 8.5 | | 3.3 | | 21.1 | | — | | 0.9 | | Total | 0.3 | | 4.6 | | 5.8 | | 15.5 | | 5.1 | | 33.3 | | — | | 1.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | As at 31.12.24 | | | | | | | | | Gross exposure | £m | £m | £m | £m | £m | £m | £m | £m | Retail mortgages | 146,690 | | 16,790 | | 2,034 | | 772 | | 19,596 | | 1,962 | | — | | 168,248 | | Retail credit cards | 31,126 | | 4,435 | | 303 | | 279 | | 5,017 | | 1,903 | | 40 | | 38,086 | | Retail other | 12,450 | | 1,056 | | 211 | | 106 | | 1,373 | | 378 | | 17 | | 14,218 | | Corporate loans | 116,508 | | 10,849 | | 144 | | 174 | | 11,167 | | 3,116 | | — | | 130,791 | | Total | 306,774 | | 33,130 | | 2,692 | | 1,331 | | 37,153 | | 7,359 | | 57 | | 351,343 | | | | | | | | | | | Impairment allowance | | | | | | | | | Retail mortgages | 38 | | 42 | | 13 | | 7 | | 62 | | 87 | | — | | 187 | | Retail credit cards | 553 | | 959 | | 122 | | 166 | | 1,247 | | 1,507 | | — | | 3,307 | | Retail other | 138 | | 76 | | 17 | | 18 | | 111 | | 161 | | — | | 410 | | Corporate loans | 209 | | 316 | | 7 | | 8 | | 331 | | 626 | | — | | 1,166 | | Total | 938 | | 1,393 | | 159 | | 199 | | 1,751 | | 2,381 | | — | | 5,070 | | | | | | | | | | | Net exposure | | | | | | | | | Retail mortgages | 146,652 | | 16,748 | | 2,021 | | 765 | | 19,534 | | 1,875 | | — | | 168,061 | | Retail credit cards | 30,573 | | 3,476 | | 181 | | 113 | | 3,770 | | 396 | | 40 | | 34,779 | | Retail other | 12,312 | | 980 | | 194 | | 88 | | 1,262 | | 217 | | 17 | | 13,808 | | Corporate loans | 116,299 | | 10,533 | | 137 | | 166 | | 10,836 | | 2,490 | | — | | 129,625 | | Total | 305,836 | | 31,737 | | 2,533 | | 1,132 | | 35,402 | | 4,978 | | 57 | | 346,273 | | | | | | | | | | | Coverage ratio | % | % | % | % | % | % | % | % | Retail mortgages | — | | 0.3 | | 0.6 | | 0.9 | | 0.3 | | 4.4 | | — | | 0.1 | | Retail credit cards | 1.8 | | 21.6 | | 40.3 | | 59.5 | | 24.9 | | 79.2 | | — | | 8.7 | | Retail other | 1.1 | | 7.2 | | 8.1 | | 17.0 | | 8.1 | | 42.6 | | — | | 2.9 | | Corporate loans | 0.2 | | 2.9 | | 4.9 | | 4.6 | | 3.0 | | 20.1 | | — | | 0.9 | | Total | 0.3 | | 4.2 | | 5.9 | | 15.0 | | 4.7 | | 32.4 | | — | | 1.4 | |
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Disclosure of movement in gross exposures and impairment allowance including provisions for loan commitments and financial guarantees |
The following tables present a reconciliation of the opening to the closing balance of the gross exposure and impairment allowance. Transfers between stages in the tables have been reflected as if they had taken place at the beginning of the period. 'Net drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' includes additional drawdowns and partial repayments from existing facilities. Additionally, the below tables do not include other financial assets subject to impairment such as debt securities at amortised cost, reverse repurchase agreements and other similar secured lending, cash collateral and settlement balances, financial assets at fair value through other comprehensive income and other assets.
The movements are measured over a six-month period. Loans and advances at amortised cost | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Retail mortgages | £m | £m | £m | £m | £m | £m | £m | £m | £m | £m | As at 1 January 2025 | 146,690 | | 38 | | 19,596 | | 62 | | 1,962 | | 87 | | — | | — | | 168,248 | | 187 | | Transfers from Stage 1 to Stage 2 | (5,409) | | (2) | | 5,409 | | 2 | | — | | — | | — | | — | | — | | — | | Transfers from Stage 2 to Stage 1 | 6,592 | | 21 | | (6,592) | | (21) | | — | | — | | — | | — | | — | | — | | Transfers to Stage 3 | (153) | | — | | (255) | | (4) | | 408 | | 4 | | — | | — | | — | | — | | Transfers from Stage 3 | 79 | | 2 | | 155 | | 1 | | (234) | | (3) | | — | | — | | — | | — | | Business activity in the period | 15,180 | | 6 | | 385 | | 2 | | 26 | | — | | — | | — | | 15,591 | | 8 | | Refinements to models used for calculation | — | | — | | — | | — | | — | | — | | — | | — | | — | | — | | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (3,839) | | (26) | | (563) | | 21 | | (63) | | 23 | | — | | — | | (4,465) | | 18 | | Final repayments | (6,279) | | (2) | | (909) | | (3) | | (193) | | (9) | | — | | — | | (7,381) | | (14) | | Disposals1 | — | | — | | (1) | | (1) | | (9) | | (5) | | — | | — | | (10) | | (6) | | Write-offs | — | | — | | — | | — | | (13) | | (13) | | — | | — | | (13) | | (13) | | As at 30 June 2025 | 152,861 | | 37 | | 17,225 | | 59 | | 1,884 | | 84 | | — | | — | | 171,970 | | 180 | | | | | | | | | | | | | Retail credit cards | | | | | | | | | | | As at 1 January 2025 | 31,126 | | 553 | | 5,017 | | 1,247 | | 1,903 | | 1,507 | | 40 | | — | | 38,086 | | 3,307 | | Transfers from Stage 1 to Stage 2 | (2,065) | | (59) | | 2,065 | | 59 | | — | | — | | — | | — | | — | | — | | Transfers from Stage 2 to Stage 1 | 1,488 | | 306 | | (1,488) | | (306) | | — | | — | | — | | — | | — | | — | | Transfers to Stage 3 | (298) | | (12) | | (636) | | (272) | | 934 | | 284 | | — | | — | | — | | — | | Transfers from Stage 3 | 12 | | 6 | | 15 | | 6 | | (27) | | (12) | | — | | — | | — | | — | | Business activity in the period | 1,951 | | 31 | | 171 | | 38 | | 1 | | 1 | | — | | — | | 2,123 | | 70 | | Refinements to models used for calculation2 | — | | 14 | | — | | (47) | | — | | 1 | | — | | — | | — | | (32) | | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (2,310) | | (377) | | (69) | | 469 | | (200) | | 385 | | (12) | | — | | (2,591) | | 477 | | Final repayments | (136) | | (5) | | (11) | | (2) | | (2) | | (1) | | — | | — | | (149) | | (8) | | Disposals1 | — | | — | | — | | — | | (245) | | (190) | | — | | — | | (245) | | (190) | | Write-offs | — | | — | | — | | — | | (516) | | (516) | | — | | — | | (516) | | (516) | | As at 30 June 2025 | 29,768 | | 457 | | 5,064 | | 1,192 | | 1,848 | | 1,459 | | 28 | | — | | 36,708 | | 3,108 | |
1The £10m of gross disposals reported within Retail mortgages relate to sale of the Italian mortgage loans. The £245m of gross disposals reported within Retail credit cards relate to debt sales undertaken during the period. 2Refinements to models used for calculation reported within Retail credit cards include a £(32)m movement in the calculated ECL for the US Cards portfolio. These reflect model enhancements made during the period. Barclays continually reviews the output of models to determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loans and advances at amortised cost | | | | | | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Retail other | £m | £m | £m | £m | £m | £m | £m | £m | £m | £m | As at 1 January 2025 | 12,450 | 138 | 1,373 | 111 | 378 | 161 | 17 | — | 14,218 | 410 | Transfers from Stage 1 to Stage 2 | (757) | (12) | 757 | 12 | — | — | — | — | — | — | Transfers from Stage 2 to Stage 1 | 309 | 20 | (309) | (20) | — | — | — | — | — | — | Transfers to Stage 3 | (85) | (1) | (84) | (22) | 169 | 23 | — | — | — | — | Transfers from Stage 3 | 23 | 1 | 3 | 2 | (26) | (3) | — | — | — | — | Business activity in the period | 2,969 | 23 | 180 | 19 | 11 | 4 | — | — | 3,160 | 46 | Refinements to models used for calculation | — | — | — | — | — | — | — | — | — | — | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (615) | (54) | (30) | 54 | 67 | 98 | (3) | — | (581) | 98 | Final repayments | (2,049) | (12) | (290) | (3) | (119) | (12) | — | — | (2,458) | (27) | Disposals1 | — | — | — | — | (21) | (15) | — | — | (21) | (15) | Write-offs | — | — | — | — | (57) | (57) | — | — | (57) | (57) | As at 30 June 2025 | 12,245 | 103 | 1,600 | 153 | 402 | 199 | 14 | — | 14,261 | 455 | | | | | | | | | | | | Corporate loans | | | | | | | | | | | As at 1 January 2025 | 116,508 | 209 | 11,167 | 331 | 3,116 | 626 | — | — | 130,791 | 1,166 | Transfers from Stage 1 to Stage 2 | (3,210) | (17) | 3,210 | 17 | — | — | — | — | — | — | Transfers from Stage 2 to Stage 1 | 2,156 | 46 | (2,156) | (46) | — | — | — | — | — | — | Transfers to Stage 3 | (374) | (2) | (461) | (25) | 835 | 27 | — | — | — | — | Transfers from Stage 3 | 207 | 10 | 220 | 10 | (427) | (20) | — | — | — | — | Business activity in the period | 16,320 | 26 | 1,290 | 27 | 373 | 25 | — | — | 17,983 | 78 | Refinements to models used for calculation2 | — | (8) | — | (6) | — | — | — | — | — | (14) | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes3 | 181 | (33) | (732) | 86 | (370) | 199 | — | — | (921) | 252 | Final repayments | (15,888) | (14) | (1,585) | (36) | (260) | (44) | — | — | (17,733) | (94) | Disposals1 | (1) | (1) | (2) | (2) | (121) | (21) | — | — | (124) | (24) | Write-offs | — | — | — | — | (161) | (161) | — | — | (161) | (161) | As at 30 June 2025 | 115,899 | 216 | 10,951 | 356 | 2,985 | 631 | — | — | 129,835 | 1,203 |
1The £21m of gross disposals reported within Retail other and £124m of gross disposals reported within Corporate loans relate to debt sales undertaken during the period. 2Refinements to models used for calculation reported within Corporate loans include a £(14)m movement in the calculated ECL for the IB portfolio. These reflect model enhancements made during the period. Barclays continually reviews the output of models to determine accuracy of the ECL calculation including review of model monitoring, external benchmarking and experience of model operation over an extended period of time. This helps to ensure that the models used continue to reflect the risks inherent across the businesses. 3'Net drawdowns, repayments, net re-measurement and movements due to exposure and risk parameter changes' reported within Corporate loans includes assets of £0.2bn de-recognised due to payment received on defaulted loans from government guarantees issued under the Government’s Bounce Back Loan Scheme. | | | | | | | | | | | | | | | | | | | | | | | | | | | Reconciliation of ECL movement to impairment charge/(release) for the period | | | | | | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | | | | £m | £m | £m | £m | £m | Retail mortgages | (1) | | (2) | | 15 | | — | | 12 | Retail credit cards | (96) | | (55) | | 658 | | — | | 507 | | Retail other | (35) | | 42 | | 110 | | — | | 117 | | Corporate loans | 8 | | 27 | | 187 | | — | | 222 | | ECL movements excluding disposals and write-offs1 | (124) | | 12 | | 970 | | — | | 858 | | ECL movement on loan commitments and other financial guarantees | — | | (11) | | (3) | | — | | (14) | | ECL movement on other financial assets | 4 | | (3) | | (7) | | — | | (6) | | ECL movement on debt securities at amortised cost | — | | 1 | | — | | — | | 1 | | Recoveries and reimbursements2 | (4) | | (20) | | (77) | | — | | (101) | | ECL charge on assets held for sale3 | | | | | 105 | | Total exchange and other adjustments | | | | | 269 | | Total income statement charge for the period | | | | | 1,112 | |
1In H125, gross write-offs amounted to £747m (H124: £760m) and post write-off recoveries amounted to £43m (H124: £38m). Net write-offs represent gross write-offs less post write-off recoveries and amounted to £704m (H124: £722m). 2Recoveries and reimbursements include £58m (H124: £18m) for reimbursements expected to be received under the arrangement where Group has entered into financial guarantee contracts which provide credit protection over certain assets with third parties and cash recoveries of previously written off amounts of £43m(H124: £38m). 3ECL charge on assets held for sale relate to the charges on a co-branded card portfolio in USCB and the German consumer finance business. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loan commitments and financial guarantees1 | | Stage 1 | Stage 2 | Stage 3 excluding POCI | Stage 3 POCI | Total | | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Gross exposure | ECL | Retail mortgages | £m | £m | £m | £m | £m | £m | £m | £m | £m | £m | As at 1 January 2025 | 11,093 | — | 340 | — | 2 | — | — | — | 11,435 | — | Net transfers between stages | (22) | — | 20 | — | 2 | — | — | — | — | — | Business activity in the period | 10,082 | — | — | — | 6 | — | — | — | 10,088 | — | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (8,050) | — | (27) | — | (2) | — | — | — | (8,079) | — | Limit management and final repayments | (171) | — | (19) | — | (1) | — | — | — | (191) | — | As at 30 June 2025 | 12,932 | — | 314 | — | 7 | — | — | — | 13,253 | — | Retail credit cards | | | | | | | | | | | As at 1 January 2025 | 162,471 | 53 | 2,515 | 13 | 122 | — | 6 | — | 165,114 | 66 | Net transfers between stages | (2,001) | 10 | 1,977 | (10) | 24 | — | — | — | — | — | Business activity in the period | 9,162 | 11 | 136 | 2 | — | — | — | — | 9,298 | 13 | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (7,840) | (16) | (1,284) | 14 | (26) | — | (1) | — | (9,151) | (2) | Limit management and final repayments | (6,172) | (5) | (122) | (5) | (11) | — | — | — | (6,305) | (10) | Disposals2 | (5,203) | — | (217) | — | (10) | — | — | — | (5,430) | — | As at 30 June 2025 | 150,417 | 53 | 3,005 | 14 | 99 | — | 5 | — | 153,526 | 67 | Retail other | | | | | | | | | | | As at 1 January 2025 | 8,416 | 6 | 440 | — | 25 | — | — | — | 8,881 | 6 | Net transfers between stages | (10) | — | 10 | — | — | — | — | — | — | — | Business activity in the period | 364 | — | — | — | 6 | — | — | — | 370 | — | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (126) | (3) | (14) | — | (7) | — | — | — | (147) | (3) | Limit management and final repayments | (573) | — | (25) | — | (3) | — | — | — | (601) | — | Disposals2 | (743) | — | (30) | — | (1) | — | — | — | (774) | — | As at 30 June 2025 | 7,328 | 3 | 381 | — | 20 | — | — | — | 7,729 | 3 | Corporate loans | | | | | | | | | | | As at 1 January 2025 | 230,275 | 105 | 15,433 | 237 | 1,019 | 25 | — | — | 246,727 | 367 | Net transfers between stages | (77) | 23 | (77) | (22) | 154 | (1) | — | — | — | — | Business activity in the period | 52,278 | 23 | 1,166 | 31 | 68 | — | — | — | 53,512 | 54 | Net drawdowns, repayments, net re-measurement and movement due to exposure and risk parameter changes | (4,520) | (29) | (1,182) | 17 | (261) | — | — | — | (5,963) | (12) | Limit management and final repayments | (49,958) | (14) | (1,986) | (38) | (163) | (2) | — | — | (52,107) | (54) | As at 30 June 2025 | 227,998 | 108 | 13,354 | 225 | 817 | 22 | — | — | 242,169 | 355 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
1 Loan commitments reported also include financial assets classified as held for sale. 2The gross disposals reported within Retail credit card and Retail other relate to the German consumer finance business; sale of which was completed in Q125.
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Disclosure of management adjustment to models for impairment |
Management adjustments to models for impairment allowance presented by product and geography1 | | | | | | | | | | | | | | | | | | | | | | | Impairment allowance pre management adjustments2 | Economic uncertainty adjustments | Other adjustments | Management adjustments3 | Total impairment allowance4 | Proportion of Management adjustments to Total impairment allowance | | | | (a) | (b) | (a+b) | | | | As at 30.06.25 | £m | £m | £m | £m | £m | % | | Retail mortgages | 50 | 36 | 72 | 108 | 158 | 68.4 | | | Retail credit cards | 883 | — | (127) | (127) | 756 | (16.8) | | | Retail other | 350 | — | 84 | 84 | 434 | 19.4 | | | Corporate loans | 767 | 43 | 40 | 83 | 850 | 9.8 | | | Total UK | 2,050 | 79 | 69 | 148 | 2,198 | 6.7 | | | Retail mortgages | 22 | — | — | — | 22 | — | | | Retail credit cards5 | 2,389 | 30 | — | 30 | 2,419 | 1.2 | | | Retail other | 24 | — | — | — | 24 | — | | | Corporate loans5 | 719 | 44 | (55) | (11) | 708 | (1.6) | | | Total Rest of the World | 3,154 | 74 | (55) | 19 | 3,173 | 0.6 | | | Total | 5,204 | 153 | 14 | 167 | 5,371 | 3.1 | | | Debt securities at amortised cost | 23 | 1 | — | 1 | 24 | 4.2 | | | Total including debt securities at amortised cost | 5,227 | 154 | 14 | 168 | 5,395 | 3.1 | | | | | | | | | | | As at 31.12.24 | £m | £m | £m | £m | £m | % | | Retail mortgages | 51 | 36 | 71 | 107 | 158 | 67.7 | | | Retail credit cards | 787 | — | (22) | (22) | 765 | (2.9) | | | Retail other | 298 | — | 90 | 90 | 388 | 23.2 | | | Corporate loans | 759 | 42 | 39 | 81 | 840 | 9.6 | | | Total UK | 1,895 | 78 | 178 | 256 | 2,151 | 11.9 | | | Retail mortgages | 29 | — | — | — | 29 | — | | | Retail credit cards | 2,631 | — | (23) | (23) | 2,608 | (0.9) | | | Retail other | 24 | — | 4 | 4 | 28 | 14.3 | | | Corporate loans | 695 | — | (2) | (2) | 693 | (0.3) | | | Total Rest of the World | 3,379 | — | (21) | (21) | 3,358 | (0.6) | | | Total | 5,274 | 78 | 157 | 235 | 5,509 | 4.3 | | | Debt securities at amortised cost | 30 | — | (7) | (7) | 23 | (30.4) | | | Total including debt securities at amortised cost | 5,304 | 78 | 150 | 228 | 5,532 | 4.1 | | |
Economic uncertainty adjustments presented by stage | | | | | | | | | | | | | | | | Stage 1 | Stage 2 | Stage 3 | Total | As at 30.06.25 | £m | £m | £m | £m | Retail mortgages | 7 | 18 | 11 | 36 | Retail credit cards | — | — | — | — | Retail other | — | — | — | — | Corporate loans | 25 | 12 | 6 | 43 | Total UK | 32 | 30 | 17 | 79 | Retail mortgages | — | — | — | — | Retail credit cards | — | 30 | — | 30 | Retail other | — | — | — | — | Corporate loans | 13 | 31 | — | 44 | Total Rest of the World | 13 | 61 | — | 74 | Total | 45 | 91 | 17 | 153 | Debt securities at amortised cost | 1 | — | — | 1 | Total including debt securities at amortised cost | 46 | 91 | 17 | 154 |
| | | | | | | | | | | | | | | As at 31.12.24 | £m | £m | £m | £m | Retail mortgages | 7 | 18 | 11 | 36 | Retail credit cards | — | — | — | — | Retail other | — | — | — | — | Corporate loans | 26 | 10 | 6 | 42 | Total UK | 33 | 28 | 17 | 78 | Retail mortgages | — | — | — | — | Retail credit cards | — | — | — | — | Retail other | — | — | — | — | Corporate loans | — | — | — | — | Total Rest of the World | — | — | — | — | Total | 33 | 28 | 17 | 78 | Debt securities at amortised cost | — | — | — | — | Total including debt securities at amortised cost | 33 | 28 | 17 | 78 |
1Positive values reflect an increase in impairment allowance and negative values reflect a reduction in the impairment allowance. 2Includes £4.5bn (December 2024: £4.7bn) of modelled ECL, £0.5bn (December 2024: £0.5bn) of individually assessed impairments, £(0.2)bn (December 2024: £(0.3)bn) of ECL from assets held for sale (co-branded card portfolio) and £0.4bn (December 2024: £0.4bn) of ECL from non-modelled exposures and debt securities. 3Management adjustments related to other financial assets subject to impairment not included in the table above include cash collateral and settlement balances £nil (December 2024: £(1)m), reverse repurchase agreements £1m (December 2024: £(2)m) and financial assets at fair value through other comprehensive income £nil (December 2024: £(2)m) within the IB portfolio. 4Total impairment allowance consists of ECL stock on drawn and undrawn exposure. 5Economic uncertainty adjustment of £87m is split £36m in USCB (including £6m in HFS) and £51m in IB, primarily reported within Corporate loans (ROW).
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Disclosure of macroeconomic variables |
| | | | | | | | | | | | | | | | | | Macroeconomic variables used in the calculation of ECL | As at 30.06.25 | 2025 | 2026 | 2027 | 2028 | 2029 | Baseline | % | % | % | % | % | UK GDP1 | 0.7 | | 1.2 | | 1.5 | | 1.6 | | 1.7 | | UK unemployment2 | 4.6 | | 4.7 | | 4.7 | | 4.6 | | 4.6 | | UK HPI3 | 2.1 | | 2.3 | | 2.3 | | 3.5 | | 3.9 | | UK bank rate6 | 4.1 | | 3.8 | | 3.8 | | 3.8 | | 3.9 | | US GDP1 | 1.9 | | 1.4 | | 2.0 | | 2.0 | | 2.0 | | US unemployment4 | 4.4 | | 4.6 | | 4.6 | | 4.6 | | 4.6 | | US HPI5 | 2.8 | | 2.0 | | 2.0 | | 2.0 | | 2.0 | | US federal funds rate6 | 4.3 | | 3.6 | | 3.6 | | 3.8 | | 3.8 | | | | | | | | Downside 2 | | | | | | UK GDP1 | (0.2) | | (3.4) | | 1.7 | | 2.6 | | 1.8 | | UK unemployment2 | 4.9 | | 7.6 | | 7.5 | | 5.9 | | 5.3 | | UK HPI3 | (9.4) | | (20.6) | | 1.2 | | 18.1 | | 10.0 | | UK bank rate6 | 4.0 | | 1.4 | | 0.2 | | 0.8 | | 1.5 | | US GDP1 | 0.9 | | (4.7) | | (0.2) | | 2.3 | | 2.3 | | US unemployment4 | 4.6 | | 7.3 | | 7.8 | | 6.4 | | 5.8 | | US HPI5 | (1.6) | | (6.6) | | 3.6 | | 9.1 | | 4.7 | | US federal funds rate6 | 4.5 | | 4.1 | | 2.4 | | 1.4 | | 1.2 | | | | | | | | Downside 1 | | | | | | UK GDP1 | 0.2 | | (1.1) | | 1.6 | | 2.1 | | 1.8 | | UK unemployment2 | 4.8 | | 6.2 | | 6.1 | | 5.2 | | 4.9 | | UK HPI3 | (3.7) | | (9.6) | | 1.7 | | 10.7 | | 7.0 | | UK bank rate6 | 4.1 | | 3.1 | | 2.2 | | 2.3 | | 2.7 | | US GDP1 | 1.4 | | (1.6) | | 0.9 | | 2.1 | | 2.1 | | US unemployment4 | 4.5 | | 5.9 | | 6.2 | | 5.5 | | 5.2 | | US HPI5 | 0.5 | | (2.4) | | 2.8 | | 5.5 | | 3.4 | | US federal funds rate6 | 4.3 | | 3.9 | | 2.9 | | 2.6 | | 2.6 | | | | | | | | Upside 2 | | | | | | UK GDP1 | 1.1 | | 3.9 | | 3.2 | | 2.6 | | 2.3 | | UK unemployment2 | 4.4 | | 4.0 | | 3.8 | | 3.7 | | 3.7 | | UK HPI3 | 4.4 | | 14.2 | | 6.8 | | 2.7 | | 3.8 | | UK bank rate6 | 4.1 | | 3.1 | | 2.5 | | 2.6 | | 2.9 | | US GDP1 | 2.3 | | 3.1 | | 2.9 | | 2.8 | | 2.8 | | US unemployment4 | 4.2 | | 3.9 | | 3.9 | | 3.9 | | 3.9 | | US HPI5 | 5.2 | | 4.3 | | 5.3 | | 4.9 | | 4.9 | | US federal funds rate6 | 4.1 | | 2.9 | | 2.8 | | 2.8 | | 2.8 | | | | | | | | Upside 1 | | | | | | UK GDP1 | 0.9 | | 2.5 | | 2.4 | | 2.1 | | 2.0 | | UK unemployment2 | 4.5 | | 4.3 | | 4.3 | | 4.2 | | 4.2 | | UK HPI3 | 3.2 | | 8.1 | | 4.5 | | 3.1 | | 3.9 | | UK bank rate6 | 4.1 | | 3.4 | | 3.3 | | 3.3 | | 3.4 | | US GDP1 | 2.1 | | 2.3 | | 2.4 | | 2.4 | | 2.4 | | US unemployment4 | 4.3 | | 4.2 | | 4.2 | | 4.2 | | 4.2 | | US HPI5 | 4.0 | | 3.1 | | 3.7 | | 3.4 | | 3.4 | | US federal funds rate6 | 4.3 | | 3.3 | | 3.3 | | 3.5 | | 3.5 | | 1Average Real GDP seasonally adjusted change in year. 2Average UK unemployment rate 16-year+. 3Change in year end UK HPI = Halifax HPI Meth2 All Houses, All Buyers index. 4Average US civilian unemployment rate 16-year+. 5Change in year end US HPI = FHFA House Price Index, relative to prior year end. 6Average rate. | | | | | | | | | | | | | | | | | | As at 31.12.24 | 2024 | 2025 | 2026 | 2027 | 2028 | Baseline | % | % | % | % | % | UK GDP1 | 1.0 | | 1.4 | | 1.5 | | 1.6 | | 1.5 | | UK unemployment2 | 4.3 | | 4.4 | | 4.5 | | 4.4 | | 4.4 | | UK HPI3 | 2.8 | | 3.3 | | 1.6 | | 4.5 | | 3.0 | | UK bank rate6 | 5.1 | | 4.3 | | 4.0 | | 4.0 | | 3.8 | | US GDP1 | 2.7 | | 2.0 | | 2.0 | | 2.0 | | 2.0 | | US unemployment4 | 4.1 | | 4.3 | | 4.2 | | 4.2 | | 4.2 | | US HPI5 | 6.5 | | 2.6 | | 2.7 | | 3.0 | | 3.0 | | US federal funds rate6 | 5.1 | | 4.1 | | 4.0 | | 3.8 | | 3.8 | | | | | | | | Downside 2 | | | | | | UK GDP1 | 1.0 | | (2.3) | | (1.3) | | 2.6 | | 2.3 | | UK unemployment2 | 4.3 | | 6.2 | | 8.1 | | 6.6 | | 5.5 | | UK HPI3 | 2.8 | | (24.8) | | (5.2) | | 10.0 | | 14.6 | | UK bank rate6 | 5.1 | | 3.5 | | 1.7 | | 0.6 | | 1.1 | | US GDP1 | 2.7 | | (1.3) | | (1.3) | | 3.3 | | 2.9 | | US unemployment4 | 4.1 | | 5.8 | | 7.2 | | 6.2 | | 5.5 | | US HPI5 | 6.5 | | (8.0) | | (0.7) | | 5.2 | | 4.0 | | US federal funds rate6 | 5.1 | | 2.5 | | 0.6 | | 0.8 | | 1.5 | | | | | | | | Downside 1 | | | | | | UK GDP1 | 1.0 | | (0.5) | | 0.1 | | 2.1 | | 1.9 | | UK unemployment2 | 4.3 | | 5.3 | | 6.3 | | 5.5 | | 5.0 | | UK HPI3 | 2.8 | | (11.6) | | (1.8) | | 7.2 | | 8.7 | | UK bank rate6 | 5.1 | | 3.9 | | 2.9 | | 2.3 | | 2.4 | | US GDP1 | 2.7 | | 0.3 | | 0.4 | | 2.7 | | 2.4 | | US unemployment4 | 4.1 | | 5.1 | | 5.7 | | 5.2 | | 4.9 | | US HPI5 | 6.5 | | (2.7) | | 1.0 | | 4.1 | | 3.5 | | US federal funds rate6 | 5.1 | | 3.4 | | 2.3 | | 2.3 | | 2.7 | | | | | | | | Upside 2 | | | | | | UK GDP1 | 1.0 | | 3.0 | | 3.7 | | 2.9 | | 2.4 | | UK unemployment2 | 4.3 | | 3.8 | | 3.4 | | 3.5 | | 3.5 | | UK HPI3 | 2.8 | | 11.9 | | 8.4 | | 5.1 | | 4.1 | | UK bank rate6 | 5.1 | | 3.9 | | 2.9 | | 2.8 | | 2.8 | | US GDP1 | 2.7 | | 2.8 | | 3.1 | | 2.8 | | 2.8 | | US unemployment4 | 4.1 | | 3.8 | | 3.5 | | 3.5 | | 3.5 | | US HPI5 | 6.5 | | 6.2 | | 4.7 | | 4.8 | | 4.9 | | US federal funds rate6 | 5.1 | | 3.7 | | 3.3 | | 3.1 | | 2.8 | | | | | | | | Upside 1 | | | | | | UK GDP1 | 1.0 | | 2.2 | | 2.6 | | 2.2 | | 2.0 | | UK unemployment2 | 4.3 | | 4.1 | | 4.0 | | 4.0 | | 4.0 | | UK HPI3 | 2.8 | | 7.6 | | 4.9 | | 4.8 | | 3.5 | | UK bank rate6 | 5.1 | | 4.1 | | 3.5 | | 3.4 | | 3.3 | | US GDP1 | 2.7 | | 2.4 | | 2.6 | | 2.4 | | 2.4 | | US unemployment4 | 4.1 | | 4.0 | | 3.9 | | 3.9 | | 3.9 | | US HPI5 | 6.5 | | 4.4 | | 3.7 | | 3.9 | | 3.9 | | US federal funds rate6 | 5.1 | | 4.0 | | 3.8 | | 3.6 | | 3.3 | | 1Average Real GDP seasonally adjusted change in year. 2Average UK unemployment rate 16-year+. 3Change in year end UK HPI = Halifax All Houses, All Buyers index, relative to prior year end. 4Average US civilian unemployment rate 16-year+. 5Change in year end US HPI = FHFA House Price Index, relative to prior year end. 6Average rate. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Scenario weighting | Upside 2 | Upside 1 | Baseline | Downside 1 | Downside 2 | | | | | | | % | % | % | % | % | | | | | | As at 30.06.25 | | | | | | | | | | | Scenario weighting | 15.5 | | 26.4 | | 34.4 | | 15.2 | | 8.5 | | | | | | | As at 31.12.24 | | | | | | | | | | | Scenario weighting | 17.4 | | 26.8 | | 32.5 | | 14.7 | | 8.6 | | | | | | |
Specific bases show the most extreme position of each variable in the context of the downside/upside scenarios, for example, the highest unemployment for downside scenarios, average unemployment for baseline scenarios and lowest unemployment for upside scenarios. GDP and HPI downside and upside scenario data represent the lowest and highest cumulative position relative to the start point in the 20 quarter period. | | | | | | | | | | | | | | | | | | Macroeconomic variables (specific bases)1 | | Upside 2 | Upside 1 | Baseline | Downside 1 | Downside 2 | As at 30.06.25 | % | % | % | % | % | UK GDP2 | 14.5 | | 10.9 | | 1.3 | | (1.3) | | (4.0) | | UK unemployment3 | 3.7 | | 4.2 | | 4.6 | | 6.5 | | 8.4 | | UK HPI4 | 35.8 | | 25.0 | | 2.8 | | (13.2) | | (28.1) | | UK bank rate3 | 2.5 | | 3.3 | | 3.9 | | 4.6 | | 4.6 | | US GDP2 | 14.8 | | 12.0 | | 1.8 | | (1.4) | | (5.3) | | US unemployment3 | 3.9 | | 4.1 | | 4.5 | | 6.5 | | 8.4 | | US HPI4 | 27.1 | | 19.0 | | 2.2 | | (2.2) | | (8.4) | | US federal funds rate3 | 2.8 | | 3.3 | | 3.8 | | 4.5 | | 4.5 | | | | | | | | As at 31.12.24 | % | % | % | % | % | UK GDP2 | 15.0 | | 11.6 | | 1.4 | | 0.2 | | (2.9) | | UK unemployment3 | 3.4 | | 3.9 | | 4.4 | | 6.5 | | 8.4 | | UK HPI4 | 36.3 | | 25.9 | | 3.0 | | (11.3) | | (26.8) | | UK bank rate3 | 2.8 | | 3.3 | | 4.2 | | 5.3 | | 5.3 | | US GDP2 | 14.9 | | 12.8 | | 2.2 | | 0.4 | | (2.1) | | US unemployment3 | 3.5 | | 3.8 | | 4.2 | | 5.9 | | 7.5 | | US HPI4 | 30.1 | | 24.4 | | 3.5 | | 1.1 | | (4.0) | | US federal funds rate3 | 2.8 | | 3.3 | | 4.2 | | 5.3 | | 5.3 | |
1UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK unemployment rate 16-year+; UK HPI (31.12.24) = Halifax All Houses, All Buyers Index; UK HPI (30.06.25) = Halifax HPI Meth2 All Houses, All Buyers index; US GDP = Real GDP growth seasonally adjusted; US unemployment = US civilian unemployment rate 16-year+; US HPI = FHFA House Price Index. 20 quarter period starts from Q125 (2024: Q124). 2Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year yearly average Compound Annual Growth Rate(CAGR) in Baseline; minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios. 3Lowest quarter in 20 quarter period in Upside scenarios; 5-year average in Baseline; highest quarter 20 quarter period in Downside scenarios. 4Maximum growth relative to Q424 (2024: Q423), based on 20 quarter period in Upside scenarios; 5-year quarter end CAGR in Baseline; minimum growth relative to Q424 (2024: Q423), based on 20 quarter period in Downside scenarios. Average basis represents the average quarterly value of variables in the 20 quarter period with GDP and HPI based on yearly average and quarterly CAGRs respectively. | | | | | | | | | | | | | | | | | | Macroeconomic variables (5-year averages)1 | | Upside 2 | Upside 1 | Baseline | Downside 1 | Downside 2 | As at 30.06.25 | % | % | % | % | % | UK GDP2 | 2.6 | | 2.0 | | 1.3 | | 0.9 | | 0.5 | | UK unemployment3 | 3.9 | | 4.3 | | 4.6 | | 5.4 | | 6.2 | | UK HPI4 | 6.3 | | 4.6 | | 2.8 | | 0.9 | | (1.1) | | UK bank rate3 | 3.0 | | 3.5 | | 3.9 | | 2.9 | | 1.6 | | US GDP2 | 2.8 | | 2.3 | | 1.8 | | 1.0 | | 0.1 | | US unemployment3 | 3.9 | | 4.2 | | 4.5 | | 5.4 | | 6.4 | | US HPI4 | 4.9 | | 3.5 | | 2.2 | | 1.9 | | 1.7 | | US federal funds rate3 | 3.1 | | 3.6 | | 3.8 | | 3.3 | | 2.7 | | | | | | | | As at 31.12.24 | % | % | % | % | % | UK GDP2 | 2.6 | | 2.0 | | 1.4 | | 0.9 | | 0.5 | | UK unemployment3 | 3.7 | | 4.0 | | 4.4 | | 5.3 | | 6.1 | | UK HPI4 | 6.4 | | 4.7 | | 3.0 | | 0.8 | | (1.6) | | UK bank rate3 | 3.5 | | 3.9 | | 4.2 | | 3.3 | | 2.4 | | US GDP2 | 2.9 | | 2.5 | | 2.2 | | 1.7 | | 1.2 | | US unemployment3 | 3.7 | | 3.9 | | 4.2 | | 5.0 | | 5.8 | | US HPI4 | 5.4 | | 4.5 | | 3.5 | | 2.4 | | 1.2 | | US federal funds rate3 | 3.6 | | 4.0 | | 4.2 | | 3.2 | | 2.1 | |
1UK GDP = Real GDP growth seasonally adjusted; UK unemployment = UK unemployment rate 16-year+; UK HPI (31.12.24) = Halifax All Houses, All Buyers Index; UK HPI (30.06.25) = Halifax HPI Meth2 All Houses, All Buyers index; US GDP = Real GDP growth seasonally adjusted; US unemployment = US civilian unemployment rate 16-year+; US HPI = FHFA House Price Index. 20 quarter period starts from Q125 (2024: Q124). 25-year yearly average CAGR, starting 2024 (2024: 2023). 35-year average. Period based on 20 quarters from Q125 (2024: Q124). 45-year quarter end CAGR, starting Q424 (2024: Q423).
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Disclosure of ECL under 100% weighted scenarios for key principal portfolios |
The table below shows the modelled ECL assuming each of the five modelled scenarios are 100% weighted with the dispersion of results around the Baseline, highlighting the impact on exposure and ECL across the scenarios. Model exposure uses exposure at default (EAD) values and is not directly comparable to gross exposure used in prior disclosures. | | | | | | | | | | | | | | | | | | | | | | Scenarios | As at 30.06.25 | Weighted1 | Upside 2 | Upside 1 | Baseline | Downside 1 | Downside 2 | Stage 1 Model Exposure (£m) | | | | | | | Retail mortgages | 143,893 | | 144,499 | | 144,220 | | 143,894 | | 142,404 | | 140,285 | | Retail credit cards2 | 61,346 | | 61,301 | | 61,334 | | 61,364 | | 61,389 | | 61,315 | | Retail other | 6,361 | | 6,488 | | 6,436 | | 6,375 | | 6,217 | | 6,047 | | Corporate loans2 | 206,132 | | 208,928 | | 208,025 | | 206,540 | | 204,086 | | 197,488 | | Stage 1 Model ECL (£m) | | | | | | | Retail mortgages | 2 | | 1 | | 1 | | 1 | | 3 | | 5 | | Retail credit cards2 | 514 | | 493 | | 503 | | 513 | | 533 | | 551 | | Retail other | 31 | | 28 | | 29 | | 30 | | 33 | | 35 | | Corporate loans2 | 288 | | 251 | | 264 | | 274 | | 332 | | 385 | | Stage 1 Coverage (%) | | | | | | | Retail mortgages | — | | — | | — | | — | | — | | — | | Retail credit cards | 0.8 | | 0.8 | | 0.8 | | 0.8 | | 0.9 | | 0.9 | | Retail other | 0.5 | | 0.4 | | 0.5 | | 0.5 | | 0.5 | | 0.6 | | Corporate loans | 0.1 | | 0.1 | | 0.1 | | 0.1 | | 0.2 | | 0.2 | | Stage 2 Model Exposure (£m) | | | | | | | Retail mortgages | 17,837 | | 16,768 | | 17,185 | | 17,673 | | 19,831 | | 23,057 | | Retail credit cards2 | 6,381 | | 6,216 | | 6,288 | | 6,363 | | 6,525 | | 6,794 | | Retail other | 1,181 | | 1,054 | | 1,106 | | 1,167 | | 1,325 | | 1,495 | | Corporate loans2 | 20,327 | | 17,378 | | 18,338 | | 19,936 | | 22,509 | | 29,237 | | Stage 2 Model ECL (£m) | | | | | | | Retail mortgages | 3 | | 1 | | 2 | | 2 | | 5 | | 9 | | Retail credit cards2 | 1,353 | | 1,268 | | 1,302 | | 1,337 | | 1,440 | | 1,584 | | Retail other | 79 | | 66 | | 70 | | 75 | | 98 | | 127 | | Corporate loans2 | 550 | | 418 | | 462 | | 517 | | 693 | | 1,045 | | Stage 2 Coverage (%) | | | | | | | Retail mortgages | — | | — | | — | | — | | — | | — | | Retail credit cards | 21.2 | | 20.4 | | 20.7 | | 21.0 | | 22.1 | | 23.3 | | Retail other | 6.7 | | 6.3 | | 6.3 | | 6.4 | | 7.4 | | 8.5 | | Corporate loans | 2.7 | | 2.4 | | 2.5 | | 2.6 | | 3.1 | | 3.6 | | Stage 3 Model Exposure (£m)3 | | | | | | | Retail mortgages | 1,128 | | 1,128 | | 1,128 | | 1,128 | | 1,128 | | 1,128 | | Retail credit cards2 | 2,050 | | 2,050 | | 2,050 | | 2,050 | | 2,050 | | 2,050 | | Retail other | 133 | | 133 | | 133 | | 133 | | 133 | | 133 | | Corporate loans2 | 3,858 | | 3,858 | | 3,858 | | 3,858 | | 3,858 | | 3,858 | | Stage 3 Model ECL (£m) | | | | | | | Retail mortgages | 18 | | 11 | | 14 | | 16 | | 27 | | 35 | | Retail credit cards2 | 1,525 | | 1,486 | | 1,507 | | 1,527 | | 1,558 | | 1,586 | | Retail other | 75 | | 73 | | 73 | | 74 | | 78 | | 82 | | Corporate loans2,4 | 61 | | 58 | | 58 | | 60 | | 66 | | 72 | | Stage 3 Coverage (%) | | | | | | | Retail mortgages | 1.6 | | 1.0 | | 1.2 | | 1.4 | | 2.4 | | 3.1 | | Retail credit cards | 74.4 | | 72.5 | | 73.5 | | 74.5 | | 76.0 | | 77.4 | | Retail other | 56.4 | | 54.9 | | 54.9 | | 55.6 | | 58.6 | | 61.7 | | Corporate loans4 | 1.6 | | 1.5 | | 1.5 | | 1.6 | | 1.7 | | 1.9 | | Total Model ECL (£m) | | | | | | | Retail mortgages | 23 | | 13 | | 17 | | 19 | | 35 | | 49 | | Retail credit cards2 | 3,392 | | 3,247 | | 3,312 | | 3,377 | | 3,531 | | 3,721 | | Retail other | 185 | | 167 | | 172 | | 179 | | 209 | | 244 | | Corporate loans2,4 | 899 | | 727 | | 784 | | 851 | | 1,091 | | 1,502 | | Total Model ECL | 4,499 | | 4,154 | | 4,285 | | 4,426 | | 4,866 | | 5,516 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Reconciliation to total ECL | £m | Total weighted model ECL | 4,499 | | ECL from individually assessed exposures4 | 485 | | ECL from non-modelled exposures and others5 | 459 | | ECL from debt securities at amortised cost | 24 | | ECL from held for sale assets (co-branded card portfolio) | (239) | | ECL from post model management adjustments | 167 | | Of which: ECL from economic uncertainty adjustments | 153 | | Total ECL | 5,395 | |
1Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach as required for Barclays reported impairment allowances. As a result, it is not possible to back solve the final reported weighted ECL from individual scenarios given balances may be assigned to a different stage dependent on the scenario. 2Model exposure and ECL reported within Retail credit cards and Corporate loans continues to include a co-branded card portfolio, as its sale is expected to close in 2026. 3Model exposures allocated to Stage 3 does not change in any of the scenarios as the transition criteria relies only on an observable evidence of default as at 30 June 2025 and not on macroeconomic scenario. 4Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of £485m is reported as an individually assessed impairment in the reconciliation table. 5ECL from non-modelled exposures and others includes ECL on Tesco Bank's retail banking business of £295m calculated using a benchmarked approach based on UK cards and UK retail loans. The sensitivity of the non-modelled exposures would materially reflect the sensitivity of the benchmarked model. | | | | | | | | | | | | | | | | | | | | | | | | | Scenarios1 | | As at 31.12.24 | Weighted2 | Upside 2 | Upside 1 | Baseline | Downside 1 | Downside 2 | | Stage 1 Model Exposure (£m) | | | | | | | | Retail mortgages | 139,086 | | 140,828 | | 140,079 | | 139,188 | | 136,671 | | 134,861 | | | Retail credit cards | 63,937 | | 63,821 | | 63,859 | | 63,894 | | 63,980 | | 63,975 | | | Retail other | 7,952 | | 8,074 | | 8,025 | | 7,968 | | 7,804 | | 7,614 | | | Corporate loans | 213,905 | | 216,064 | | 215,215 | | 214,293 | | 212,007 | | 207,062 | | | Stage 1 Model ECL (£m) | | | | | | | | Retail mortgages | 1 | | — | | 1 | | 1 | | 3 | | 6 | | | Retail credit cards | 535 | | 512 | | 523 | | 534 | | 560 | | 586 | | | Retail other | 34 | | 32 | | 32 | | 33 | | 36 | | 40 | | | Corporate loans | 270 | | 235 | | 247 | | 258 | | 311 | | 363 | | | Stage 1 Coverage (%) | | | | | | | | Retail mortgages | — | | — | | — | | — | | — | | — | | | Retail credit cards | 0.8 | | 0.8 | | 0.8 | | 0.8 | | 0.9 | | 0.9 | | | Retail other | 0.4 | | 0.4 | | 0.4 | | 0.4 | | 0.5 | | 0.5 | | | Corporate loans | 0.1 | | 0.1 | | 0.1 | | 0.1 | | 0.1 | | 0.2 | | | Stage 2 Model Exposure (£m) | | | | | | | | Retail mortgages | 20,401 | | 18,178 | | 19,072 | | 20,134 | | 23,359 | | 26,339 | | | Retail credit cards | 6,904 | | 6,747 | | 6,817 | | 6,889 | | 7,052 | | 7,310 | | | Retail other | 1,232 | | 1,110 | | 1,159 | | 1,215 | | 1,380 | | 1,570 | | | Corporate loans | 21,197 | | 18,889 | | 19,793 | | 20,827 | | 23,238 | | 28,340 | | | Stage 2 Model ECL (£m) | | | | | | | | Retail mortgages | 4 | | 1 | | 2 | | 3 | | 8 | | 16 | | | Retail credit cards | 1,473 | | 1,387 | | 1,422 | | 1,459 | | 1,567 | | 1,714 | | | Retail other | 81 | | 68 | | 72 | | 77 | | 101 | | 134 | | | Corporate loans | 532 | | 424 | | 461 | | 505 | | 655 | | 932 | | | Stage 2 Coverage (%) | | | | | | | | Retail mortgages | — | — | — | — | — | 0.1 | | Retail credit cards | 21.3 | 20.6 | 20.9 | 21.2 | 22.2 | 23.4 | | Retail other | 6.6 | 6.1 | 6.2 | 6.3 | 7.3 | 8.5 | | Corporate loans | 2.5 | 2.2 | 2.3 | 2.4 | 2.8 | 3.3 | | Stage 3 Model Exposure (£m)3 | | | | | | | | Retail mortgages | 1,062 | | 1,062 | | 1,062 | | 1,062 | | 1,062 | | 1,062 | | | Retail credit cards | 2,197 | | 2,197 | | 2,197 | | 2,197 | | 2,197 | | 2,197 | | | Retail other | 158 | | 158 | | 158 | | 158 | | 158 | | 158 | | | Corporate loans | 4,051 | | 4,051 | | 4,051 | | 4,051 | | 4,051 | | 4,051 | | | Stage 3 Model ECL (£m) | | | | | | | | Retail mortgages | 19 | | 12 | | 14 | | 17 | | 29 | | 41 | | | Retail credit cards | 1,625 | | 1,585 | | 1,606 | | 1,627 | | 1,663 | | 1,695 | | | Retail other | 92 | | 90 | | 91 | | 92 | | 95 | | 97 | | | Corporate loans4 | 71 | | 66 | | 67 | | 69 | | 79 | | 89 | | | Stage 3 Coverage (%) | | | | | | | | Retail mortgages | 1.8 | | 1.1 | | 1.3 | | 1.6 | | 2.7 | | 3.9 | | | Retail credit cards | 74.0 | | 72.1 | | 73.1 | | 74.1 | | 75.7 | | 77.2 | | | Retail other | 58.2 | | 57.0 | | 57.6 | | 58.2 | | 60.1 | | 61.4 | | | Corporate loans4 | 1.8 | | 1.6 | | 1.7 | | 1.7 | | 2.0 | | 2.2 | | | Total Model ECL (£m) | | | | | | | | Retail mortgages | 24 | | 13 | | 17 | | 21 | | 40 | | 63 | | | Retail credit cards | 3,633 | | 3,484 | | 3,551 | | 3,620 | | 3,790 | | 3,995 | | | Retail other | 207 | | 190 | | 195 | | 202 | | 232 | | 271 | | | Corporate loans4 | 873 | | 725 | | 775 | | 832 | | 1,045 | | 1,384 | | | Total Model ECL | 4,737 | | 4,412 | | 4,538 | | 4,675 | | 5,107 | | 5,713 | | |
| | | | | | Reconciliation to total ECL | £m | Total weighted model ECL | 4,737 | ECL from individually assessed exposures4 | 461 | ECL from non-modelled exposures and others5 | 358 | ECL from debt securities at amortised cost | 23 | ECL from held for sale assets (co-branded card portfolio) | (282) | ECL from post model management adjustments | 235 | Of which: ECL from economic uncertainty adjustments | 78 | Total ECL | 5,532 |
1Model exposure and ECL reported within Retail credit cards and Retail Other excludes the German consumer finance business, sale of which completed after the balance sheet date. Model exposure and ECL reported within Retail credit cards and Corporate loans continues to include a co-branded card portfolio, as its sale is expected to close in 2026. 2Model exposures are allocated to a stage based on an individual scenario rather than a probability-weighted approach as required for Barclays reported impairment allowances. As a result, it is not possible to back solve the final reported weighted ECL from individual scenarios given balances may be assigned to a different stage dependent on the scenario. 3Model exposures allocated to Stage 3 does not change in any of the scenarios as the transition criteria relies only on an observable evidence of default as at 31 December 2024 and not on macroeconomic scenario. 4Material corporate loan defaults are individually assessed across different recovery strategies. As a result, ECL of £461m is reported as an individually assessed impairment in the reconciliation table. 5ECL from non-modelled exposures and others includes ECL on Tesco Bank's retail banking business of £209m calculated using a benchmarked approach based on UK cards and UK retail loans. The sensitivity of the non-modelled exposures would materially reflect the sensitivity of the benchmarked model.
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Disclosure of management value at risk |
Management VaR (95%) by asset class
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Half year ended 30.06.25 | | Half year ended 31.12.24 | | Half year ended 30.06.24 | | Average | High | Low | | Average | High | Low | | Average | High | Low | | £m | £m | £m | | £m | £m | £m | | £m | £m | £m | Credit risk | 16 | 20 | 13 | | 20 | 24 | 17 | | 22 | 27 | 19 | Interest rate risk | 15 | 25 | 5 | | 14 | 22 | 7 | | 16 | 25 | 9 | Equity risk | 8 | 14 | 5 | | 5 | 12 | 2 | | 6 | 9 | 4 | Basis risk | 5 | 7 | 4 | | 5 | 6 | 4 | | 6 | 8 | 4 | Spread risk | 5 | 7 | 4 | | 4 | 7 | 3 | | 5 | 7 | 4 | Foreign exchange risk | 4 | 7 | 3 | | 4 | 7 | 3 | | 4 | 9 | 2 | Commodity risk | — | 1 | — | | — | 1 | — | | — | 1 | — | Inflation risk | 5 | 8 | 3 | | 4 | 5 | 2 | | 4 | 5 | 2 | Diversification effect1 | (39) | n/a | n/a | | (32) | n/a | n/a | | (34) | n/a | n/a | Total management VaR | 19 | 30 | 10 | | 24 | 32 | 15 | | 29 | 36 | 20 |
1Diversification effects recognise that forecast losses from different assets or businesses are unlikely to occur concurrently, hence the expected aggregate loss is lower than the sum of the expected losses from each area. Historical correlations between losses are taken into account in making these assessments. The high and low VaR figures reported for each category did not necessarily occur on the same day as the high and low total management VaR. Consequently, a diversification effect balance for the high and low VaR figures would not be meaningful and is therefore omitted from the above table.
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Disclosure of own funds and eligible liabilities |
| | | | | | | | | | | | | | Capital ratios1,2 | | | As at 30.06.25 | As at 31.03.25 | As at 31.12.24 | CET1 | | | 14.0% | 13.9% | 13.6% | T1 | | | 17.8% | 17.7% | 16.9% | Total regulatory capital | | | 20.5% | 20.6% | 19.6% | MREL ratio as a percentage of total RWAs | | | 35.4% | 36.2% | 34.4% | | | | | | | Own funds and eligible liabilities | | | £m | £m | £m | Total equity excluding non-controlling interests per the balance sheet | | | 75,906 | 74,880 | 71,821 | Less: other equity instruments (recognised as AT1 capital) | | | (13,266) | (13,263) | (12,075) | Adjustment to retained earnings for foreseeable ordinary share dividends | | | (600) | (1,086) | (786) | Adjustment to retained earnings for foreseeable repurchase of shares | | | (171) | (664) | — | Adjustment to retained earnings for foreseeable other equity coupons | | | (37) | (49) | (35) | | | | | | | Other regulatory adjustments and deductions | | | | | | Additional value adjustments (PVA) | | | (1,887) | (1,795) | (2,051) | Goodwill and intangible assets | | | (8,158) | (8,247) | (8,272) | Deferred tax assets that rely on future profitability excluding temporary differences | | | (1,303) | (1,408) | (1,451) | Fair value reserves related to gains or losses on cash flow hedges | | | 1,210 | 2,378 | 2,930 | Excess of expected losses over impairment | | | (331) | (306) | (403) | Gains or losses on liabilities at fair value resulting from own credit | | | 456 | 799 | 981 | Defined benefit pension fund assets | | | (2,177) | (2,326) | (2,367) | Direct and indirect holdings by an institution of own CET1 instruments | | | (5) | (4) | (1) | Adjustment under IFRS 9 transitional arrangements | | | — | — | 138 | | | | | | | Other regulatory adjustments | | | (92) | (115) | 129 | CET1 capital | | | 49,545 | 48,794 | 48,558 | | | | | | | AT1 capital | | | | | | Capital instruments and related share premium accounts | | | 13,289 | 13,289 | 12,108 | | | | | | | Other regulatory adjustments and deductions | | | (23) | (26) | (32) | AT1 capital | | | 13,266 | 13,263 | 12,076 | | | | | | | T1 capital | | | 62,811 | 62,057 | 60,634 | | | | | | | T2 capital | | | | | | Capital instruments and related share premium accounts | | | 9,498 | 9,988 | 9,150 | Qualifying T2 capital (including minority interests) issued by subsidiaries | | | 76 | 337 | 367 | | | | | | | Other regulatory adjustments and deductions | | | (81) | (43) | (33) | Total regulatory capital | | | 72,304 | 72,339 | 70,118 | | | | | | | Less : Ineligible T2 capital (including minority interests) issued by subsidiaries | | | (76) | (337) | (367) | Eligible liabilities | | | 52,733 | 55,159 | 53,547 | Total own funds and eligible liabilities3 | | | 124,961 | 127,161 | 123,298 | | | | | | | Total RWAs | | | 353,043 | 351,314 | 358,127 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
12024 comparatives for Capital and RWAs have been calculated applying the IFRS 9 transitional arrangements in accordance with the CRR. Effective from 1 January 2025, the IFRS 9 transitional arrangements no longer applied. 22024 and Q1 2025 comparatives for total capital were calculated applying the grandfathering of certain capital instruments within Tier 2 capital. Effective from 29 June 2025, the grandfathered instruments no longer qualified as Tier 2 capital. 3As at 30 June 2025, the Group's MREL requirement, excluding the institution-specific confidential PRA buffer, was to hold £108.3bn of own funds and eligible liabilities equating to 30.7% of RWAs. The Group remains above its MREL regulatory requirement including the institution-specific confidential PRA buffer.
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