NatWest Group plc Q3 Results 2025

About this update from Natwest Group Plc

[{"type":"text","content":"\n \n Inside this report \n   \n \n \n \n \n Business performance summary \n   \n \n \n \n \n 2 \n \n \n Q3 2025 performance summary \n \n \n \n \n 3 \n \n \n Performance key metrics and ratios \n \n \n \n \n 5 \n \n \n Chief Financial Officer's review \n \n \n \n \n 6 \n \n \n Retail Banking \n \n \n \n \n 7 \n \n \n Private Banking & Wealth Management \n \n \n \n \n 8 \n \n \n Commercial & Institutional \n \n \n \n \n 9 \n \n \n Central items & other \n \n \n \n \n 10 \n \n \n Segment performance \n \n \n \n \n   \n \n \n   \n \n \n \n \n Risk and capital management \n \n \n \n \n 15 \n \n \n Credit risk \n \n \n \n \n 15 \n \n \n Segment analysis - portfolio summary \n \n \n \n \n 16 \n \n \n Segment analysis - loans \n \n \n \n \n 16 \n \n \n Movement in ECL provision \n \n \n \n \n 17 \n \n \n ECL post model adjustments \n \n \n \n \n 18 \n \n \n Sector analysis - portfolio summary \n \n \n \n \n 23 \n \n \n Capital, liquidity and funding risk \n \n \n \n \n 29 \n \n \n Pension risk \n \n \n \n \n   \n \n \n \n \n \n \n \n Financial statements and notes \n \n \n \n \n 30 \n \n \n Condensed consolidated income statement \n \n \n \n \n 31 \n \n \n Condensed consolidated statement of comprehensive income \n \n \n \n \n 32 \n \n \n Condensed consolidated balance sheet \n \n \n \n \n 33 \n \n \n Condensed consolidated statement of changes in equity \n \n \n \n \n 35 \n \n \n Presentation of condensed consolidated financial statements \n \n \n \n \n 35 \n \n \n Litigation and regulatory matters \n \n \n \n \n 36 \n \n \n Post balance sheet events \n \n \n \n \n \n \n \n \n \n \n   \n   \n \n \n \n \n Additional information \n \n \n \n \n 37 \n \n \n Presentation of information \n \n \n \n \n 37 \n \n \n Statutory accounts \n \n \n \n \n 37 \n \n \n Contacts \n \n \n \n \n 37 \n \n \n Forward-looking statements \n \n \n \n \n 38 \n \n \n Non-IFRS financial measures \n \n \n \n \n 43 \n \n \n Performance measures not defined under IFRS   \n \n \n \n \n \n \n \n \n Q3 2025 performance summary \n Chief Executive, Paul Thwaite, commented: \n \"NatWest Group delivered another strong performance in the third quarter of 2025, underpinned by healthy levels of customer activity and the continued support we provide to them. This is driving positive momentum across our three businesses, with continued lending growth and deposits remaining stable.    \n With our strategic focus on growth, NatWest Group's impact can be felt right across the economy, as we help people get on the housing ladder, save and invest for the future and grow their businesses - from innovative start-ups and vital mid-market firms to the largest multinationals responsible for critical infrastructure projects. We are also becoming a much simpler bank, with tight control of costs supporting our digital transformation that is enabling us to anticipate and meet the changing needs of customers at pace. \n As a result of our consistent delivery and capital generation, we have upgraded our income and returns guidance for 2025 and are well placed to support our customers, invest for the future and deliver returns to our shareholders.\" \n \n \n \n Growth in all of our customer businesses \n We have delivered a strong financial performance in the quarter, with income and lending growth across all of our businesses demonstrating our broad-based support for our customers.  \n -    Total income excluding notable items was up £0.2 billion to £4.2 billion in the quarter, driving an attributable profit of £1.6 billion and a Return on Tangible Equity (RoTE) of 22.3%. \n -    In the third quarter net loans to customers excluding central items were up by £4.4 billion as we met customer needs while deploying capital where returns were attractive. \n -    Deposits remained broadly stable across each of the businesses, with a small overall decrease in the quarter of £1.1 billion in customer deposits excluding central items. We continue to maintain a strong loan:deposit ratio (excl. repos and reverse repos) up 2% in the quarter to 88%, and a strong liquidity position with an average Liquidity Coverage Ratio (LCR) of 148%. \n -    Assets under management and administration (AUMA) grew strongly in the quarter, up by 8.1% to £56.0 billion assisted by strong client net inflows. \n   \n Simplification continues to drive efficiency \n We continued to make good progress on becoming a simpler bank, delivering efficiencies from our investment programmes and driving efficiency in the business which resulted in a 5% improvement in our year to date cost:income (excl. litigation and conduct) ratio of 47.8% , compared with 52.8% in the same period of 2024 . \n We are pleased with progress towards our objective of simplifying the way we operate, becoming a more agile and technology driven bank. \n   \n \n Active balance sheet management creates capacity for growth \n We continued to actively manage our balance sheet and risk, delivering a £2.2 billion benefit from RWA management actions as we created capacity for growth. \n Capital generation pre-distributions was 101 basis points in the quarter. \n Our Common Equity Tier 1 (CET1) ratio of 14.2% was up c.60 basis points compared with Q4 2024 and c.60 basis points higher than Q2 2025. TNAV per share in Q3 2025 increased by 11 pence to 362 pence. \n   \n Outlook (1) \n We will introduce guidance for 2026 and new targets for 2028 with our Full Year 2025 results on 13 February 2026. \n The following statements are based on our current expectations for interest rates and economic conditions. We will monitor and react to market conditions and refine our internal forecasts as the economic position evolves. \n We now expect income excluding notable items to be around £16.3 billion for 2025 and to achieve a Return on Tangible Equity of greater than 18.0%. \n Except for this strengthened guidance, we reaffirm the outlook provided in our H1 2025 Interim Results. \n   \n   \n   \n (1)    The guidance, targets, expectations and trends discussed in this section represent NatWest Group plc management's current expectations and are subject to change, including as a result of the factors described in the NatWest Group plc Risk Factors in the 2024 Annual Report and Accounts and Form 20-F and the Summary Risk Factors in the NatWest Group plc 2025 Interim Results announcement. These statements constitute forward-looking statements. Refer to Forward-looking statements in this announcement. \n \n \n \n \n   \n Business performance summary \n   \n \n \n \n \n \n \n \n Nine months ended \n \n \n   \n \n \n Quarter ended \n \n \n \n \n \n \n \n 30 September \n \n \n 30 September \n \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n \n \n \n 30 September \n \n \n \n \n \n \n \n \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n \n \n \n 2024 \n \n \n \n \n \n \n \n Summary consolidated income statement \n \n \n £m \n \n \n £m \n \n \n Variance \n \n \n \n \n \n £m \n \n \n £m \n \n \n Variance \n \n \n £m \n \n \n Variance \n \n \n \n \n Net interest income \n \n \n 9,388 \n \n \n 8,307 \n \n \n 13.0% \n \n \n \n \n \n 3,268 \n \n \n 3,094 \n \n \n 5.6% \n \n \n 2,899 \n \n \n 12.7% \n \n \n \n \n Non-interest income \n \n \n 2,929 \n \n \n 2,571 \n \n \n 13.9% \n \n \n \n \n \n 1,064 \n \n \n 911 \n \n \n 16.8% \n \n \n 845 \n \n \n 25.9% \n \n \n \n \n Total income \n \n \n 12,317 \n \n \n 10,878 \n \n \n 13.2% \n \n \n \n \n \n 4,332 \n \n \n 4,005 \n \n \n 8.2% \n \n \n 3,744 \n \n \n 15.7% \n \n \n \n \n Litigation and conduct costs \n \n \n (130) \n \n \n (142) \n \n \n (8.5%) \n \n \n \n \n \n (12) \n \n \n (74) \n \n \n (83.8%) \n \n \n (41) \n \n \n (70.7%) \n \n \n \n \n Other operating expenses \n \n \n (5,884) \n \n \n (5,740) \n \n \n 2.5% \n \n \n \n \n \n (1,984) \n \n \n (1,965) \n \n \n 1.0% \n \n \n (1,784) \n \n \n 11.2% \n \n \n \n \n Operating expenses \n \n \n (6,014) \n \n \n (5,882) \n \n \n 2.2% \n \n \n \n \n \n (1,996) \n \n \n (2,039) \n \n \n (2.1%) \n \n \n (1,825) \n \n \n 9.4% \n \n \n \n \n Profit before impairment losses \n \n \n 6,303 \n \n \n 4,996 \n \n \n 26.2% \n \n \n \n \n \n 2,336 \n \n \n 1,966 \n \n \n 18.8% \n \n \n 1,919 \n \n \n 21.7% \n \n \n \n \n Impairment losses \n \n \n (535) \n \n \n (293) \n \n \n 82.6% \n \n \n \n \n \n (153) \n \n \n (193) \n \n \n (20.7%) \n \n \n (245) \n \n \n (37.6%) \n \n \n \n \n Operating profit before tax \n \n \n 5,768 \n \n \n 4,703 \n \n \n 22.6% \n \n \n \n \n \n 2,183 \n \n \n 1,773 \n \n \n 23.1% \n \n \n 1,674 \n \n \n 30.4% \n \n \n \n \n Tax charge \n \n \n (1,412) \n \n \n (1,232) \n \n \n 14.6% \n \n \n \n \n \n (502) \n \n \n (439) \n \n \n 14.4% \n \n \n (431) \n \n \n 16.5% \n \n \n \n \n Profit from continuing operations \n \n \n 4,356 \n \n \n 3,471 \n \n \n 25.5% \n \n \n \n \n \n 1,681 \n \n \n 1,334 \n \n \n 26.0% \n \n \n 1,243 \n \n \n 35.2% \n \n \n \n \n Profit from discontinued operations, net of tax \n \n \n - \n \n \n 12 \n \n \n (100.0%) \n \n \n \n \n \n - \n \n \n - \n \n \n - \n \n \n 1 \n \n \n (100.0%) \n \n \n \n \n Profit for the period \n \n \n 4,356 \n \n \n 3,483 \n \n \n 25.1% \n \n \n \n \n \n 1,681 \n \n \n 1,334 \n \n \n 26.0% \n \n \n 1,244 \n \n \n 35.1% \n \n \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Performance key metrics and ratios \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n Notable items within total income   (1) \n \n \n £189m \n \n \n £102m \n \n \n 85.3% \n \n \n \n \n \n £166m \n \n \n (£5m) \n \n \n nm \n \n \n (£28m) \n \n \n nm \n \n \n \n \n Total income excluding notable items   (1) \n \n \n £12,128m \n \n \n £10,776m \n \n \n 12.5% \n \n \n \n \n \n £4,166m \n \n \n £4,010m \n \n \n 3.9% \n \n \n £3,772m \n \n \n 10.4% \n \n \n \n \n Net interest margin   (1) \n \n \n 2.31% \n \n \n 2.11% \n \n \n 20bps \n \n \n \n \n \n 2.37% \n \n \n 2.28% \n \n \n 9bps \n \n \n 2.18% \n \n \n 19bps \n \n \n \n \n Average interest earning assets   (1) \n \n \n £544bn \n \n \n £526bn \n \n \n 3.4% \n \n \n \n \n \n £548bn \n \n \n £543bn \n \n \n 0.9% \n \n \n £530bn \n \n \n 3.4% \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 47.8% \n \n \n 52.8% \n \n \n (5.0%) \n \n \n \n \n \n 45.8% \n \n \n 49.1% \n \n \n (3.3%) \n \n \n 47.6% \n \n \n (1.8%) \n \n \n \n \n Loan impairment rate   (1) \n \n \n 17bps \n \n \n 10bps \n \n \n 7bps \n \n \n \n \n \n 15bps \n \n \n 19bps \n \n \n (4bps) \n \n \n 25bps \n \n \n (10bps) \n \n \n \n \n Profit attributable to ordinary shareholders \n \n \n £4,086m \n \n \n £3,271m \n \n \n 24.9% \n \n \n \n \n \n £1,598m \n \n \n £1,236m \n \n \n 29.3% \n \n \n £1,172m \n \n \n 36.3% \n \n \n \n \n Total earnings per share attributable to ordinary shareholders - basic   \n \n \n 50.7p \n \n \n 38.3p \n \n \n 12.4p \n \n \n \n \n \n 19.8p \n \n \n 15.3p \n \n \n 4.5p \n \n \n 14.1p \n \n \n 5.7p \n \n \n \n \n Return on Tangible Equity (RoTE)   (1) \n \n \n 19.5% \n \n \n 17.0% \n \n \n 2.5% \n \n \n \n \n \n 22.3% \n \n \n 17.7% \n \n \n 4.6% \n \n \n 18.3% \n \n \n 4.0% \n \n \n \n \n Climate and transition finance   (2) \n \n \n £7,569m \n \n \n na \n \n \n na \n \n \n \n \n \n £7,569m \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n   \n nm = not meaningful, na = not applicable. \n For the footnotes to this table refer to the following page. \n \n \n   \n Business performance summary continued \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n As at \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n \n \n \n 31 December \n \n \n \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n \n \n \n 2024 \n \n \n \n \n \n \n \n Balance sheet \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n Variance \n \n \n £bn \n \n \n Variance \n \n \n \n \n Total assets \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 725.6 \n \n \n 730.8 \n \n \n (0.7%) \n \n \n 708.0 \n \n \n 2.5% \n \n \n \n \n Loans to customers - amortised cost \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 415.3 \n \n \n 407.1 \n \n \n 2.0% \n \n \n 400.3 \n \n \n 3.7% \n \n \n \n \n Loans to customers excluding central items   (1,3) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 384.5 \n \n \n 380.1 \n \n \n 1.2% \n \n \n 368.5 \n \n \n 4.3% \n \n \n \n \n Loans to customers and banks - amortised cost and FVOCI   \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 427.3 \n \n \n 417.9 \n \n \n 2.2% \n \n \n 410.2 \n \n \n 4.2% \n \n \n \n \n Total impairment provisions   (4) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 3.7 \n \n \n 3.7 \n \n \n - \n \n \n 3.4 \n \n \n 8.8% \n \n \n \n \n Expected credit loss (ECL) coverage ratio   \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 0.87% \n \n \n 0.87% \n \n \n - \n \n \n 0.83% \n \n \n 4bps \n \n \n \n \n Assets under management and administration (AUMA)   (1) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 56.0 \n \n \n 51.8 \n \n \n 8.1% \n \n \n 48.9 \n \n \n 14.5% \n \n \n \n \n Customer deposits \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 435.5 \n \n \n 436.8 \n \n \n (0.3%) \n \n \n 433.5 \n \n \n 0.5% \n \n \n \n \n Customer deposits excluding central items   (1,3) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 434.7 \n \n \n 435.8 \n \n \n (0.3%) \n \n \n 431.3 \n \n \n 0.8% \n \n \n \n \n Liquidity and funding \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Average Liquidity Coverage Ratio (LCR)   (5) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 148% \n \n \n 150% \n \n \n (2.0%) \n \n \n 151% \n \n \n (3.0%) \n \n \n \n \n Liquidity portfolio \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 239 \n \n \n 217 \n \n \n 10.1% \n \n \n 222 \n \n \n 7.7% \n \n \n \n \n Average Net Stable Funding Ratio (NSFR)   (5) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 135% \n \n \n 136% \n \n \n (1.0%) \n \n \n 137% \n \n \n (2.0%) \n \n \n \n \n Loan:deposit ratio (excl. repos and reverse repos)   (1) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 88% \n \n \n 86% \n \n \n 2% \n \n \n 85% \n \n \n 3% \n \n \n \n \n Total wholesale funding \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 93 \n \n \n 91 \n \n \n 2.2% \n \n \n 86 \n \n \n 8.1% \n \n \n \n \n Short-term wholesale funding \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 37 \n \n \n 35 \n \n \n 5.7% \n \n \n 33 \n \n \n 12.1% \n \n \n \n \n Capital and leverage \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Common Equity Tier 1 (CET1) ratio   (6) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 14.2% \n \n \n 13.6% \n \n \n 60bps \n \n \n 13.6% \n \n \n 60bps \n \n \n \n \n Total capital ratio   (6) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 20.2% \n \n \n 19.7% \n \n \n 50bps \n \n \n 19.7% \n \n \n 50bps \n \n \n \n \n Pro forma CET1 ratio (excl. foreseeable items)   (7) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 15.1% \n \n \n 14.6% \n \n \n 50bps \n \n \n 14.3% \n \n \n 80bps \n \n \n \n \n Risk-weighted assets (RWAs) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 189.1 \n \n \n 190.1 \n \n \n (0.5%) \n \n \n 183.2 \n \n \n 3.2% \n \n \n \n \n UK leverage ratio \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 5.0% \n \n \n 5.0% \n \n \n - \n \n \n 5.0% \n \n \n - \n \n \n \n \n Tangible net asset value (TNAV) per ordinary share   (1,8) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 362p \n \n \n 351p \n \n \n 11p \n \n \n 329p \n \n \n 33p \n \n \n \n \n Number of ordinary shares in issue (millions)   (8) \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n 8,031 \n \n \n 8,088 \n \n \n (0.7%) \n \n \n 8,043 \n \n \n (0.1%) \n \n \n \n \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n (2)     NatWest Group uses its climate and transition finance framework to determine the assets, activities, acquisition targets and companies that are eligible to be included within its target to provide £200 billion in climate and transition finance between 1 July 2025 and the end of 2030. This included both provision of committed (on and off-balance sheet) financing and facilitation. The climate and transition finance framework is available on natwestgroup.com. \n (3)     Central items includes Treasury repo activity. \n (4)     Includes £0.1 billion relating to off-balance sheet exposures (30 June 2025 - £0.1 billion; 31 December 2024 - £0.1 billion). \n (5)     Reported on an average basis in line with supervisory guidelines. The LCR is calculated as the average of the preceding 12 months. The NSFR is calculated as the average of the preceding four quarters. \n (6)     Refer to the Capital, liquidity and funding risk section for details of the basis of preparation. \n (7)     The pro forma CET1 ratio at 30 September 2025 excludes foreseeable items of £1,721 million: £1,275 million for ordinary dividends and £446 million foreseeable charges (30 June 2025 excludes foreseeable items of £1,994 million: £1,244 million for ordinary dividends and £750 million foreseeable charges; 31 December 2024 excludes foreseeable items of £1,249 million for ordinary dividends). \n (8)     The number of ordinary shares in issue excludes own shares held. \n   \n \n \n \n \n Chief Financial Officer's review \n   \n We delivered another strong performance in the third quarter with total income excluding notable items up by 3.9% on Q2 2025 and 10.4% on Q3 2024. We made further progress on simplification and as a result our cost:income ratio (excl. litigation and conduct) was 47.8% in the year to date compared with 52.8% in the prior year. As a result, we achieved RoTE of 22.3%, including more than 2 percentage points from one-off items in the quarter. \n The balance sheet continues to grow, with another quarter of strong lending growth of £4.4 billion excluding central items while customer deposits excluding central items remained broadly stable with a small decrease overall of £1.1 billion in the quarter. Liquidity position remains robust with an average LCR of 148%. \n Our CET1 ratio came in just above the top end of our target range at 14.2% as we actively managed the balance sheet, delivering RWA management actions of £2.2 billion in Q3 2025 which created continued capacity for growth. \n \n \n \n Strong Q3 2025 performance across growth and simplification \n -    Total income increased by 8.2% in Q3 2025 compared with Q2 2025 and was 15.7% higher than Q3 2024. Total income excluding notable items was £156 million higher than Q2 2025 reflecting deposit margin expansion alongside the benefit of one additional day in the quarter. As a result, NIM increased by 9 basis points in the quarter to 2.37%. \n -    Total operating expenses were £43 million lower than Q2 2025 and £171 million higher than Q3 2024. Other operating expenses were £19 million higher than Q2 2025 primarily reflecting integration costs following the acquisition of balances from Sainsbury's Bank and higher restructuring costs as we continue to develop core skills for the future, including increasing the number of software engineering roles. Our focus remains on driving cost savings to create capacity for further investment to accelerate our bank-wide simplification . Headcount reduced by around 600 FTE compared with Q3 2024 and was 100 FTE lower than Q2 2025. \n We continue to proactively manage risk \n -    The net impairment charge of £153 million, or 15 basis points of gross customer loans, was £40 million lower than Q2 2025 as Stage 3 charges were lower in Commercial & Institutional and the prior quarter included an £81 million charge on the acquisition of balances from Sainsbury's Bank, offset by lower post model adjustment releases. \n -    Compared with Q2 2025, our ECL provision and our ECL coverage ratio remained stable at £3.7 billion and 0.87% respectively. We retain post model adjustments of £265 million and remain comfortable with the strong credit performance of our diversified prime loan book. \n Our lending aligns to our climate ambitions \n -    During Q3 2025 we provided £7.6 billion in climate and transition finance against our target to provide £200 billion between 1 July 2025 and the end of 2030, which is underpinned by our climate and transition finance framework. We also achieved our aim to provide £10 billion in lending for EPC A and B rated residential properties between 1 January 2023 and the end of 2025, with £10.8 billion lending up to 30 September 2025. \n \n Active balance sheet management supporting robust liquidity levels \n -    We continued to support our customers as net loans to customers excluding central items increased £4.4 billion in Q3 2025. Retail Banking mortgage balances increased by £1.7 billion and Commercial & Institutional balances were up by £2.5 billion, largely within Corporate & Institutions and Commercial Mid-market. \n -    Customer deposits excluding central items reduced £1.1 billion in the quarter to £434.7 billion primarily reflecting a reduction in savings balances in Retail Banking and Private Banking & Wealth Management. Commercial & Institutional increased by £0.4 billion largely due to higher balances within Commercial Mid-market and Business Banking. Total business term balances reduced to 16% of the book, down from 17% at Q2 2025. \n -    We continue to actively manage our balance sheet as RWAs decreased by £1.0 billion in the quarter to £189.1 billion, including a further £2.2 billion benefit from RWA management actions as we created capacity for lending growth. \n -    The average LCR of 148% (spot LCR: 141%) representing £51.6 billion headroom above 100% minimum requirement, decreased by 2 percentage points compared with Q2 2025 primarily due to higher lending. Our primary liquidity at Q3 2025 was £159 billion, of which £80.5 billion, or 51% was cash and balances at central banks. Total wholesale funding increased by £2.1 billion in the quarter to £92.9 billion. \n \n \n \n \n Shareholder return supported by strong capital generation \n -    An attributable profit of £1,598 million and RoTE of 22.3% included more than 2 percentage points from one-off items in the quarter, including a £147 million gain from the release of a funding valuation adjustment applied to a portfolio of derivatives.    \n -    The CET1 ratio of 14.2% was c.60 basis points higher than Q2 2025 principally reflecting the attributable profit for the quarter, c.85 basis points, and the reduction in RWAs, c.10 basis points, partially offset by the foreseeable ordinary dividend, c.40 basis points. \n \n \n \n \n -    TNAV per share increased by 11 pence in the quarter to 362 pence primarily reflecting the profit for the period partially offset by the interim dividend payment. \n Business performance summary \n Retail Banking \n \n \n \n \n \n \n \n Quarter ended \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 30 September \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Total income \n \n \n 1,662 \n \n \n 1,594 \n \n \n 1,459 \n \n \n \n \n Operating expenses \n \n \n (715) \n \n \n (742) \n \n \n (659) \n \n \n \n \n     of which: Other operating expenses \n \n \n (712) \n \n \n (734) \n \n \n (656) \n \n \n \n \n Impairment losses \n \n \n (97) \n \n \n (117) \n \n \n (144) \n \n \n \n \n Operating profit \n \n \n 850 \n \n \n 735 \n \n \n 656 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Return on equity   (1) \n \n \n 26.4% \n \n \n 23.2% \n \n \n 21.4% \n \n \n \n \n Net interest margin   (1) \n \n \n 2.64% \n \n \n 2.59% \n \n \n 2.43% \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 42.8% \n \n \n 46.0% \n \n \n 45.0% \n \n \n \n \n Loan impairment rate   (1) \n \n \n 18bps \n \n \n 22bps \n \n \n 28bps \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 31 December \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Net loans to customers (amortised cost) \n \n \n 216.0 \n \n \n 214.3 \n \n \n 208.4 \n \n \n \n \n Customer deposits \n \n \n 195.8 \n \n \n 196.6 \n \n \n 194.8 \n \n \n \n \n RWAs \n \n \n 69.1 \n \n \n 69.4 \n \n \n 65.5 \n \n \n \n \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n   \n During Q3 2025, Retail Banking delivered a return on equity of 26.4% and an operating profit of £850 million, with continued positive income and net interest margin momentum. We have increased net mortgage lending by £1.7 billion and, as we widen our customer proposition, we have announced our partnership with Landbay to support more buy-to-let property investors. In addition, we have continued to progress the integration of our recently acquired Sainsbury's customers, with credit card customers now able to view their credit card, link their Sainsbury's Nectar card and view their Nectar points from credit card spending in our app. \n Retail Banking provided £1.2 billion of climate and transition financing in Q3 2025 from lending on EPC A and B rated residential properties. \n \n   \n   \n Q3 2025 performance \n -    Total income was £68 million, or 4.3%, higher than Q2 2025 reflecting deposit margin expansion, full quarter impact of balances acquired from Sainsbury's Bank and the benefit of one additional day in the quarter. Q3 2025 total income was £203 million, or 13.9%, higher than Q3 2024 reflecting deposit margin expansion, lending growth and the impact of balances acquired from Sainsbury's Bank. \n -    Net interest margin was 5 basis points higher than Q2 2025 largely reflecting deposit margin expansion and full quarter impact of balances acquired from Sainsbury's Bank. \n -    Other operating expenses were £22 million, or 3.0%, lower than Q2 2025 reflecting non-repeat of Q2 2025 FCA regulatory fees and property exit costs. Other operating expenses were £56 million, or 8.5%, higher than Q3 2024 reflecting higher investment spend, partly offset by a 4.9% reduction in headcount. \n -    An impairment charge of £97 million, compared with a £117 million charge in Q2 2025, largely driven by good book model releases. Stage 3 default driven charge remains stable. \n -    Net loans to customers increased by £1.7 billion, or 0.8%, in Q3 2025 driven by higher mortgage balances of £1.7 billion, or 0.9%, higher cards balances of £0.1 billion, or 1.2%, partly offset by lower personal advances of £0.1 billion, or 1.1%. \n -    Customer deposits decreased by £0.8 billion, or 0.4%, in Q3 2025 reflecting lower savings balances of £1.4 billion, partly offset by increased current account balances of £0.6 billion. \n -    RWAs decreased by £0.3 billion, or 0.4%, in Q3 2025 primarily due to RWA management actions, largely offset by book movements. \n \n \n Business performance summary continued \n Private Banking & Wealth Management \n \n \n \n \n \n \n \n Quarter ended \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 30 September \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Total income \n \n \n 284 \n \n \n 274 \n \n \n 253 \n \n \n \n \n    of which: AUMA income   (1) \n \n \n 75 \n \n \n 72 \n \n \n 68 \n \n \n \n \n Operating expenses \n \n \n (173) \n \n \n (172) \n \n \n (166) \n \n \n \n \n    of which: Other operating expenses \n \n \n (172) \n \n \n (171) \n \n \n (166) \n \n \n \n \n Impairment (losses)/releases \n \n \n (3) \n \n \n - \n \n \n 3 \n \n \n \n \n Operating profit \n \n \n 108 \n \n \n 102 \n \n \n 90 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Return on equity   (1) \n \n \n 23.4% \n \n \n 22.5% \n \n \n 19.7% \n \n \n \n \n Net interest margin   (1) \n \n \n 2.66% \n \n \n 2.56% \n \n \n 2.50% \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 60.6% \n \n \n 62.4% \n \n \n 65.6% \n \n \n \n \n Loan impairment rate   (1) \n \n \n 6bps \n \n \n - \n \n \n (7bps) \n \n \n \n \n AUMA net flows (£bn)   (1) \n \n \n 1.2 \n \n \n 1.3 \n \n \n 0.9 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 31 December \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Net loans to customers (amortised cost) \n \n \n 18.8 \n \n \n 18.6 \n \n \n 18.2 \n \n \n \n \n Customer deposits \n \n \n 40.6 \n \n \n 41.3 \n \n \n 42.4 \n \n \n \n \n Assets under management (AUM)   (1) \n \n \n 41.9 \n \n \n 39.0 \n \n \n 37.0 \n \n \n \n \n Assets under administration (AUA)   (1) \n \n \n 14.1 \n \n \n 12.8 \n \n \n 11.9 \n \n \n \n \n Assets under management and administration (AUMA)   (1) \n \n \n 56.0 \n \n \n 51.8 \n \n \n 48.9 \n \n \n \n \n Total combined assets and liabilities (CAL)   (1,2) \n \n \n 114.2 \n \n \n 110.4 \n \n \n 108.4 \n \n \n \n \n RWAs \n \n \n 11.4 \n \n \n 11.5 \n \n \n 11.0 \n \n \n \n \n   \n (1)     Refer to the Non-IFRS financial measures appendix for details of basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n (2)     CAL refers to customer deposits, net loans to customers and AUMA. To avoid double counting, investment cash is deducted as it is reported within customer deposits and AUMA. \n During Q3 2025, Private Banking & Wealth Management continued to deliver a strong performance with an operating profit of £108 million, return on equity of 23.4% and cost:income ratio (excl. litigation and conduct) of 60.6%. We have continued to progress our simplification agenda, including the rollout of a new workflow tool for investment advice, which has reduced the time to deliver simple investment advice. Our digital experience also continues to improve, with mobile NPS rising to 54, reflecting the ongoing enhancements to our mobile app. \n Private Banking & Wealth Management provided £0.1 billion of climate and transition financing in Q3 2025, principally in relation to mortgages on residential properties with an EPC rating of A or B and wholesale transactions. \n   \n   \n Q3 2025 performance \n -    Total income was £10 million, or 3.6%, higher than Q2 2025 primarily reflecting balance growth across lending and AUMA and deposit margin expansion. Q3 2025 total income was £31 million, or 12.3%, higher than Q3 2024 primarily reflecting balance growth across deposits, lending and AUMA, and deposit margin expansion. \n -    Net interest margin was 10 basis points higher than Q2 2025 largely reflecting deposit margin expansion. \n -    Other operating expenses were £1 million, or 0.6%, higher than Q2 2025 primarily reflecting timing of non-staff costs. Other operating expenses were £6 million, or 3.6%, higher than Q3 2024 primarily reflecting higher back office costs, partly offset by a 4.5% reduction in headcount. \n -    An impairment charge of £3 million in Q3 2025, compared with no impairment charge in Q2 2025. Stage 3 charges remain at low levels. \n -    CAL increased by £3.8 billion, or 3.4%, in Q3 2025, supported by growth in AUMA and lending balances. \n -    Net loans to customers increased by £0.2 billion, or 1.1%, in Q3 2025 driven by higher personal lending balances. \n -    Customer deposits decreased by £0.7 billion, or 1.7%, in Q3 2025 driven by seasonal tax outflows and continued flows to AUMAs. \n -    AUMA balances increased by £4.2 billion, in Q3 2025, driven by positive market movements of £3.0 billion, AUM net inflows of £0.6 billion, AUA net inflows of £0.4 billion and Cushon net inflows of £0.2 billion. AUM net flows as a percentage of opening balances are 6.2% on an annualised basis. \n   \n \n \n Business performance summary continued \n Commercial & Institutional \n \n \n \n \n \n \n \n Quarter ended \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 30 September \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Net interest income \n \n \n 1,550 \n \n \n 1,496 \n \n \n 1,392 \n \n \n \n \n Non-interest income \n \n \n 658 \n \n \n 651 \n \n \n 679 \n \n \n \n \n Total income \n \n \n 2,208 \n \n \n 2,147 \n \n \n 2,071 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Operating expenses \n \n \n (1,115) \n \n \n (1,107) \n \n \n (945) \n \n \n \n \n    of which: Other operating expenses \n \n \n (1,060) \n \n \n (1,047) \n \n \n (911) \n \n \n \n \n Impairment losses \n \n \n (52) \n \n \n (76) \n \n \n (109) \n \n \n \n \n Operating profit \n \n \n 1,041 \n \n \n 964 \n \n \n 1,017 \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Return on equity   (1) \n \n \n 19.7% \n \n \n 17.9% \n \n \n 19.9% \n \n \n \n \n Net interest margin   (1) \n \n \n 2.36% \n \n \n 2.35% \n \n \n 2.24% \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 48.0% \n \n \n 48.8% \n \n \n 44.0% \n \n \n \n \n Loan impairment rate   (1) \n \n \n 14bps \n \n \n 20bps \n \n \n 31bps \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n As at \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 31 December \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Net loans to customers (amortised cost) \n \n \n 149.7 \n \n \n 147.2 \n \n \n 141.9 \n \n \n \n \n Customer deposits \n \n \n 198.3 \n \n \n 197.9 \n \n \n 194.1 \n \n \n \n \n Funded assets   (1) \n \n \n 348.2 \n \n \n 343.1 \n \n \n 321.6 \n \n \n \n \n RWAs \n \n \n 107.0 \n \n \n 107.8 \n \n \n 104.7 \n \n \n \n \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n   \n During Q3 2025, Commercial & Institutional continued to deliver a strong performance in income and operating profit, supporting a return on equity of 19.7%, an increase from 17.9% in Q2 2025. We have supported sectors that are vital to the health and success of the UK economy including continued support for UK Infrastructure and Housing Associations, reaching £7.4 billion of lending to Social Housing against our target of £7.5 billion. We saw another quarter of continued strong demand for FX risk management against a backdrop of volatile markets, supporting income. We have improved customer experience through our Bankline transformation and modernised digital platforms, driving deeper customer engagement. \n Commercial & Institutional provided £6.3 billion of climate and transition funding in Q3 2025 to support customers investing in the transition to net zero. \n   \n   \n Q3 2025 performance \n -    Total income was £61 million, or 2.8%, higher than Q2 2025 primarily reflecting deposit margin expansion, lending growth as well as the impact of an additional day in the quarter. Q3 2025 total income was £137 million, or 6.6%, higher than Q3 2024 primarily reflecting deposit margin expansion and customer lending growth. \n -    Net interest margin was 1 basis point higher than Q2 2025 reflecting deposit margin expansion. \n -    Other operating expenses were £13 million, or 1.2%, higher than Q2 2025 largely reflecting increased investment spend partially offset by non-repeat of Q2 2025 FCA regulatory fees and one-off VAT recovery in the quarter. Other operating expenses were £149 million, or 16.4%, higher than Q3 2024 reflecting inflationary increases on staff costs and increased investment spend. \n -    An impairment charge of £52 million in Q3 2025 compared with a £76 million charge in Q2 2025 reflecting lower levels of Stage 3 impairments. \n -    Net loans to customers increased by £2.5 billion, or 1.7%, in Q3 2025 principally due to Funds lending and Large Corporate growth within Corporate & Institutions and Regional and Commercial Real Estate growth within Commercial Mid-market, partly offset by UK Government scheme repayments of £0.5 billion. \n -    Customer deposits increased by £0.4 billion, or 0.2%, in Q3 2025 largely reflecting higher balances within Commercial Mid-market and Business Banking. \n -    RWAs decreased by £0.8 billion, or 0.7%, in Q3 2025 primarily reflecting continued RWA management actions, partially offset by book movements and currency impacts. \n \n \n Business performance summary continued \n Central items & other \n \n \n \n \n \n \n \n Quarter ended \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 30 September \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n   \n \n \n \n \n \n \n \n \n \n \n Total income \n \n \n 178 \n \n \n (10) \n \n \n (39) \n \n \n \n \n Operating expenses   \n \n \n 7 \n \n \n (18) \n \n \n (55) \n \n \n \n \n    of which: Other operating expenses \n \n \n (40) \n \n \n (13) \n \n \n (51) \n \n \n \n \n Impairment (losses)/releases \n \n \n (1) \n \n \n - \n \n \n 5 \n \n \n \n \n Operating profit/(loss) \n \n \n 184 \n \n \n (28) \n \n \n (89) \n \n \n \n \n \n \n \n   \n \n \n As at \n \n \n   \n \n \n \n \n \n \n \n 30 September \n \n \n 30 June \n \n \n 31 December \n \n \n \n \n \n \n \n 2025 \n \n \n 2025 \n \n \n 2024 \n \n \n \n \n \n \n \n £bn \n \n \n £bn \n \n \n £bn \n \n \n \n \n Net loans to customers (amortised cost) \n \n \n 30.8 \n \n \n 27.0 \n \n \n 31.8 \n \n \n \n \n Customer deposits \n \n \n 0.8 \n \n \n 1.0 \n \n \n 2.2 \n \n \n \n \n RWAs \n \n \n 1.6 \n \n \n 1.4 \n \n \n 2.0 \n \n \n \n \n \n   \n Q3 2025 performance \n -    Total income was £188 million higher than Q2 2025 primarily reflecting higher gains on interest and FX risk management derivatives not in accounting hedge relationships and Business Growth Fund profits partially offset with foreign exchange recycling losses. \n -    Other operating expenses were £27 million higher than Q2 2025 primarily due to one-off items including an HMRC tax credit in Q2 2025, timing of spend, as well as higher staff restructuring costs in the quarter as we pivot support towards developing critical core skills for the future. \n -    Net loans to customers increased by £3.8 billion in Q3 2025 driven by reverse repo activity in Treasury. \n -    Customer deposits decreased by £0.2 billion in Q3 2025 reflecting repo activity in Treasury. \n \n \n \n \n   \n Segment performance \n \n \n \n \n   \n \n \n Nine months ended 30 September 2025 \n \n \n \n \n \n \n \n   \n \n \n Private Banking \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n Retail \n \n \n   & Wealth \n \n \n Commercial   \n \n \n Central items \n \n \n Total NatWest \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n   & other \n \n \n Group \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n \n \n \n \n \n Income statement   \n \n \n \n \n \n \n \n Net interest income \n \n \n 4,471 \n \n \n 555 \n \n \n 4,505 \n \n \n (143) \n \n \n 9,388 \n \n \n \n \n Own credit adjustments \n \n \n - \n \n \n - \n \n \n 3 \n \n \n - \n \n \n 3 \n \n \n \n \n Other non-interest income \n \n \n 325 \n \n \n 268 \n \n \n 1,989 \n \n \n 344 \n \n \n 2,926 \n \n \n \n \n Total income   \n \n \n 4,796 \n \n \n 823 \n \n \n 6,497 \n \n \n 201 \n \n \n 12,317 \n \n \n \n \n Direct expenses \n \n \n (604) \n \n \n (183) \n \n \n (1,192) \n \n \n (3,905) \n \n \n (5,884) \n \n \n \n \n Indirect expenses \n \n \n (1,519) \n \n \n (347) \n \n \n (1,930) \n \n \n 3,796 \n \n \n - \n \n \n \n \n Other operating expenses \n \n \n (2,123) \n \n \n (530) \n \n \n (3,122) \n \n \n (109) \n \n \n (5,884) \n \n \n \n \n Litigation and conduct costs \n \n \n (15) \n \n \n (2) \n \n \n (144) \n \n \n 31 \n \n \n (130) \n \n \n \n \n Operating expenses \n \n \n (2,138) \n \n \n (532) \n \n \n (3,266) \n \n \n (78) \n \n \n (6,014) \n \n \n \n \n Operating profit before impairment losses \n \n \n 2,658 \n \n \n 291 \n \n \n 3,231 \n \n \n 123 \n \n \n 6,303 \n \n \n \n \n Impairment losses \n \n \n (323) \n \n \n (4) \n \n \n (206) \n \n \n (2) \n \n \n (535) \n \n \n \n \n Operating profit \n \n \n 2,335 \n \n \n 287 \n \n \n 3,025 \n \n \n 121 \n \n \n 5,768 \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Total income excluding notable items   (1) \n \n \n 4,796 \n \n \n 823 \n \n \n 6,494 \n \n \n 15 \n \n \n 12,128 \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Additional information \n \n \n   \n \n \n \n \n Return on Tangible Equity   (1) \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n 19.5% \n \n \n \n \n Return on equity   (1) \n \n \n 24.7% \n \n \n 21.0% \n \n \n 19.0% \n \n \n nm \n \n \n na \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 44.3% \n \n \n 64.4% \n \n \n 48.1% \n \n \n nm \n \n \n 47.8% \n \n \n \n \n Total assets (£bn) \n \n \n 240.6 \n \n \n 29.1 \n \n \n 408.9 \n \n \n 47.0 \n \n \n 725.6 \n \n \n \n \n Funded assets (£bn)   (1) \n \n \n 240.6 \n \n \n 29.1 \n \n \n 348.2 \n \n \n 46.6 \n \n \n 664.5 \n \n \n \n \n Net loans to customers - amortised cost (£bn) \n \n \n 216.0 \n \n \n 18.8 \n \n \n 149.7 \n \n \n 30.8 \n \n \n 415.3 \n \n \n \n \n Loan impairment rate   (1) \n \n \n 20bps \n \n \n 3bps \n \n \n 18bps \n \n \n nm \n \n \n 17bps \n \n \n \n \n Impairment provisions (£bn) \n \n \n (1.9) \n \n \n (0.1) \n \n \n (1.7) \n \n \n - \n \n \n (3.7) \n \n \n \n \n Impairment provisions - Stage 3 (£bn) \n \n \n (1.2) \n \n \n - \n \n \n (1.1) \n \n \n - \n \n \n (2.3) \n \n \n \n \n Customer deposits (£bn) \n \n \n 195.8 \n \n \n 40.6 \n \n \n 198.3 \n \n \n 0.8 \n \n \n 435.5 \n \n \n \n \n Risk-weighted assets (RWAs) (£bn) \n \n \n 69.1 \n \n \n 11.4 \n \n \n 107.0 \n \n \n 1.6 \n \n \n 189.1 \n \n \n \n \n RWA equivalent (RWAe) (£bn) \n \n \n 69.9 \n \n \n 11.4 \n \n \n 108.0 \n \n \n 1.9 \n \n \n 191.2 \n \n \n \n \n Employee numbers (FTEs - thousands) \n \n \n 11.6 \n \n \n 2.1 \n \n \n 12.6 \n \n \n 32.8 \n \n \n 59.1 \n \n \n \n \n Third party customer asset rate   (1) \n \n \n 4.34% \n \n \n 4.74% \n \n \n 6.04% \n \n \n nm \n \n \n nm \n \n \n \n \n Third party customer funding rate   (1) \n \n \n (1.78%) \n \n \n (2.75%) \n \n \n (1.60%) \n \n \n nm \n \n \n nm \n \n \n \n \n Average interest earning assets (£bn)   (1) \n \n \n 229.8 \n \n \n 28.5 \n \n \n 257.1 \n \n \n na \n \n \n 544.3 \n \n \n \n \n Net interest margin   (1) \n \n \n 2.60% \n \n \n 2.60% \n \n \n 2.34% \n \n \n na \n \n \n 2.31% \n \n \n \n \n nm = not meaningful, na = not applicable. \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n \n \n \n \n Segment performance continued \n \n \n \n \n   \n \n \n Nine months ended 30 September 2024 \n \n \n \n \n   \n \n \n Private Banking \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail \n \n \n   & Wealth \n \n \n Commercial   \n \n \n Central items \n \n \n Total NatWest \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n   & other \n \n \n Group \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income statement   \n \n \n \n \n \n \n \n Net interest income \n \n \n 3,825 \n \n \n 455 \n \n \n 3,935 \n \n \n 92 \n \n \n 8,307 \n \n \n \n \n Own credit adjustments \n \n \n - \n \n \n - \n \n \n (5) \n \n \n - \n \n \n (5) \n \n \n \n \n Other non-interest income \n \n \n 324 \n \n \n 242 \n \n \n 1,941 \n \n \n 69 \n \n \n 2,576 \n \n \n \n \n Total income   \n \n \n 4,149 \n \n \n 697 \n \n \n 5,871 \n \n \n 161 \n \n \n 10,878 \n \n \n \n \n Direct expenses \n \n \n (586) \n \n \n (190) \n \n \n (1,120) \n \n \n (3,844) \n \n \n (5,740) \n \n \n \n \n Indirect expenses \n \n \n (1,527) \n \n \n (331) \n \n \n (1,864) \n \n \n 3,722 \n \n \n - \n \n \n \n \n Other operating expenses \n \n \n (2,113) \n \n \n (521) \n \n \n (2,984) \n \n \n (122) \n \n \n (5,740) \n \n \n \n \n Litigation and conduct costs \n \n \n (16) \n \n \n (1) \n \n \n (111) \n \n \n (14) \n \n \n (142) \n \n \n \n \n Operating expenses \n \n \n (2,129) \n \n \n (522) \n \n \n (3,095) \n \n \n (136) \n \n \n (5,882) \n \n \n \n \n Operating profit before impairment losses/releases \n \n \n 2,020 \n \n \n 175 \n \n \n 2,776 \n \n \n 25 \n \n \n 4,996 \n \n \n \n \n Impairment (losses)/releases \n \n \n (266) \n \n \n 14 \n \n \n (52) \n \n \n 11 \n \n \n (293) \n \n \n \n \n Operating profit \n \n \n 1,754 \n \n \n 189 \n \n \n 2,724 \n \n \n 36 \n \n \n 4,703 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total income excluding notable items   (1) \n \n \n 4,149 \n \n \n 697 \n \n \n 5,876 \n \n \n 54 \n \n \n 10,776 \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Additional information \n \n \n \n \n \n \n \n Return on Tangible Equity   (1) \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n 17.0% \n \n \n \n \n Return on equity   (1) \n \n \n 19.4% \n \n \n 13.6% \n \n \n 17.4% \n \n \n nm \n \n \n na \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 50.9% \n \n \n 74.7% \n \n \n 50.8% \n \n \n nm \n \n \n 52.8% \n \n \n \n \n Total assets (£bn) \n \n \n 231.1 \n \n \n 27.3 \n \n \n 398.7 \n \n \n 54.8 \n \n \n 711.9 \n \n \n \n \n Funded assets (£bn)   (1) \n \n \n 231.1 \n \n \n 27.3 \n \n \n 331.1 \n \n \n 53.7 \n \n \n 643.2 \n \n \n \n \n Net loans to customers - amortised cost (£bn) \n \n \n 207.4 \n \n \n 18.2 \n \n \n 138.1 \n \n \n 23.0 \n \n \n 386.7 \n \n \n \n \n Loan impairment rate   (1) \n \n \n 17bps \n \n \n (10bps) \n \n \n 5bps \n \n \n nm \n \n \n 10bps \n \n \n \n \n Impairment provisions (£bn) \n \n \n (1.9) \n \n \n (0.1) \n \n \n (1.6) \n \n \n - \n \n \n (3.6) \n \n \n \n \n Impairment provisions - Stage 3 (£bn) \n \n \n (1.1) \n \n \n - \n \n \n (1.0) \n \n \n - \n \n \n (2.1) \n \n \n \n \n Customer deposits (£bn) \n \n \n 192.0 \n \n \n 39.7 \n \n \n 195.7 \n \n \n 3.7 \n \n \n 431.1 \n \n \n \n \n Risk-weighted assets (RWAs) (£bn) \n \n \n 64.8 \n \n \n 11.0 \n \n \n 104.0 \n \n \n 1.9 \n \n \n 181.7 \n \n \n \n \n RWA equivalent (RWAe) (£bn) \n \n \n 65.3 \n \n \n 11.0 \n \n \n 105.3 \n \n \n 2.4 \n \n \n 184.0 \n \n \n \n \n Employee numbers (FTEs - thousands) \n \n \n 12.2 \n \n \n 2.2 \n \n \n 12.8 \n \n \n 32.5 \n \n \n 59.7 \n \n \n \n \n Third party customer asset rate   (1) \n \n \n 3.95% \n \n \n 4.99% \n \n \n 6.74% \n \n \n nm \n \n \n nm \n \n \n \n \n Third party customer funding rate   (1) \n \n \n (2.08%) \n \n \n (3.15%) \n \n \n (1.92%) \n \n \n nm \n \n \n nm \n \n \n \n \n Average interest earning assets (£bn)   (1) \n \n \n 220.5 \n \n \n 26.6 \n \n \n 244.9 \n \n \n na \n \n \n 526.2 \n \n \n \n \n Net interest margin   (1) \n \n \n 2.32% \n \n \n 2.29% \n \n \n 2.15% \n \n \n na \n \n \n 2.11% \n \n \n \n \n nm = not meaningful, na = not applicable. \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n \n \n Segment performance continued \n \n \n \n \n   \n \n \n Quarter ended 30 September 2025 \n \n \n \n \n   \n \n \n   \n \n \n Private Banking \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n Retail \n \n \n   & Wealth \n \n \n Commercial   \n \n \n Central items \n \n \n Total NatWest \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n   & other \n \n \n Group \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Income statement   \n \n \n \n \n \n \n \n Net interest income \n \n \n 1,549 \n \n \n 192 \n \n \n 1,550 \n \n \n (23) \n \n \n 3,268 \n \n \n \n \n Own credit adjustments \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n Other non-interest income \n \n \n 113 \n \n \n 92 \n \n \n 658 \n \n \n 201 \n \n \n 1,064 \n \n \n \n \n Total income   \n \n \n 1,662 \n \n \n 284 \n \n \n 2,208 \n \n \n 178 \n \n \n 4,332 \n \n \n \n \n Direct expenses \n \n \n (208) \n \n \n (61) \n \n \n (410) \n \n \n (1,305) \n \n \n (1,984) \n \n \n \n \n Indirect expenses \n \n \n (504) \n \n \n (111) \n \n \n (650) \n \n \n 1,265 \n \n \n - \n \n \n \n \n Other operating expenses \n \n \n (712) \n \n \n (172) \n \n \n (1,060) \n \n \n (40) \n \n \n (1,984) \n \n \n \n \n Litigation and conduct costs \n \n \n (3) \n \n \n (1) \n \n \n (55) \n \n \n 47 \n \n \n (12) \n \n \n \n \n Operating expenses \n \n \n (715) \n \n \n (173) \n \n \n (1,115) \n \n \n 7 \n \n \n (1,996) \n \n \n \n \n Operating profit before impairment losses \n \n \n 947 \n \n \n 111 \n \n \n 1,093 \n \n \n 185 \n \n \n 2,336 \n \n \n \n \n Impairment losses \n \n \n (97) \n \n \n (3) \n \n \n (52) \n \n \n (1) \n \n \n (153) \n \n \n \n \n Operating profit \n \n \n 850 \n \n \n 108 \n \n \n 1,041 \n \n \n 184 \n \n \n 2,183 \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Total income excluding notable items   (1) \n \n \n 1,662 \n \n \n 284 \n \n \n 2,208 \n \n \n 12 \n \n \n 4,166 \n \n \n \n \n \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Additional information \n \n \n   \n \n \n \n \n Return on Tangible Equity   (1) \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n 22.3% \n \n \n \n \n Return on equity   (1) \n \n \n 26.4% \n \n \n 23.4% \n \n \n 19.7% \n \n \n nm \n \n \n na \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 42.8% \n \n \n 60.6% \n \n \n 48.0% \n \n \n nm \n \n \n 45.8% \n \n \n \n \n Total assets (£bn) \n \n \n 240.6 \n \n \n 29.1 \n \n \n 408.9 \n \n \n 47.0 \n \n \n 725.6 \n \n \n \n \n Funded assets (£bn)   (1) \n \n \n 240.6 \n \n \n 29.1 \n \n \n 348.2 \n \n \n 46.6 \n \n \n 664.5 \n \n \n \n \n Net loans to customers - amortised cost (£bn) \n \n \n 216.0 \n \n \n 18.8 \n \n \n 149.7 \n \n \n 30.8 \n \n \n 415.3 \n \n \n \n \n Loan impairment rate   (1) \n \n \n 18bps \n \n \n 6bps \n \n \n 14bps \n \n \n nm \n \n \n 15bps \n \n \n \n \n Impairment provisions (£bn) \n \n \n (1.9) \n \n \n (0.1) \n \n \n (1.7) \n \n \n - \n \n \n (3.7) \n \n \n \n \n Impairment provisions - Stage 3 (£bn) \n \n \n (1.2) \n \n \n - \n \n \n (1.1) \n \n \n - \n \n \n (2.3) \n \n \n \n \n Customer deposits (£bn) \n \n \n 195.8 \n \n \n 40.6 \n \n \n 198.3 \n \n \n 0.8 \n \n \n 435.5 \n \n \n \n \n Risk-weighted assets (RWAs) (£bn) \n \n \n 69.1 \n \n \n 11.4 \n \n \n 107.0 \n \n \n 1.6 \n \n \n 189.1 \n \n \n \n \n RWA equivalent (RWAe) (£bn) \n \n \n 69.9 \n \n \n 11.4 \n \n \n 108.0 \n \n \n 1.9 \n \n \n 191.2 \n \n \n \n \n Employee numbers (FTEs - thousands) \n \n \n 11.6 \n \n \n 2.1 \n \n \n 12.6 \n \n \n 32.8 \n \n \n 59.1 \n \n \n \n \n Third party customer asset rate   (1) \n \n \n 4.40% \n \n \n 4.66% \n \n \n 5.88% \n \n \n nm \n \n \n nm \n \n \n \n \n Third party customer funding rate   (1) \n \n \n (1.69%) \n \n \n (2.61%) \n \n \n (1.49%) \n \n \n nm \n \n \n nm \n \n \n \n \n Average interest earning assets (£bn)   (1) \n \n \n 233.0 \n \n \n 28.6 \n \n \n 260.5 \n \n \n na \n \n \n 548.1 \n \n \n \n \n Net interest margin   (1) \n \n \n 2.64% \n \n \n 2.66% \n \n \n 2.36% \n \n \n na \n \n \n 2.37% \n \n \n \n \n nm = not meaningful, na = not applicable. \n (1)       Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n \n \n \n \n Segment performance continued \n \n \n \n \n   \n \n \n Quarter ended 30 June 2025 \n \n \n \n \n \n \n \n \n \n \n Private Banking   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail \n \n \n   & Wealth \n \n \n Commercial   \n \n \n Central items \n \n \n Total NatWest \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n   & other \n \n \n Group \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n \n \n \n \n \n Income statement   \n \n \n \n \n \n \n \n Net interest income \n \n \n 1,484 \n \n \n 182 \n \n \n 1,496 \n \n \n (68) \n \n \n 3,094 \n \n \n \n \n Own credit adjustments \n \n \n - \n \n \n - \n \n \n (3) \n \n \n - \n \n \n (3) \n \n \n \n \n Other non-interest income \n \n \n 110 \n \n \n 92 \n \n \n 654 \n \n \n 58 \n \n \n 914 \n \n \n \n \n Total income   \n \n \n 1,594 \n \n \n 274 \n \n \n 2,147 \n \n \n (10) \n \n \n 4,005 \n \n \n \n \n Direct expenses \n \n \n (230) \n \n \n (63) \n \n \n (403) \n \n \n (1,269) \n \n \n (1,965) \n \n \n \n \n Indirect expenses \n \n \n (504) \n \n \n (108) \n \n \n (644) \n \n \n 1,256 \n \n \n - \n \n \n \n \n Other operating expenses \n \n \n (734) \n \n \n (171) \n \n \n (1,047) \n \n \n (13) \n \n \n (1,965) \n \n \n \n \n Litigation and conduct costs \n \n \n (8) \n \n \n (1) \n \n \n (60) \n \n \n (5) \n \n \n (74) \n \n \n \n \n Operating expenses \n \n \n (742) \n \n \n (172) \n \n \n (1,107) \n \n \n (18) \n \n \n (2,039) \n \n \n \n \n Operating profit/(loss) before impairment losses \n \n \n 852 \n \n \n 102 \n \n \n 1,040 \n \n \n (28) \n \n \n 1,966 \n \n \n \n \n Impairment losses \n \n \n (117) \n \n \n - \n \n \n (76) \n \n \n - \n \n \n (193) \n \n \n \n \n Operating profit/(loss) \n \n \n 735 \n \n \n 102 \n \n \n 964 \n \n \n (28) \n \n \n 1,773 \n \n \n \n \n \n \n \n \n \n \n \n \n Total income excluding notable items   (1) \n \n \n 1,594 \n \n \n 274 \n \n \n 2,150 \n \n \n (8) \n \n \n 4,010 \n \n \n \n \n \n \n \n \n \n \n \n \n Additional information \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on Tangible Equity   (1) \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n 17.7% \n \n \n \n \n Return on equity   (1) \n \n \n 23.2% \n \n \n 22.5% \n \n \n 17.9% \n \n \n nm \n \n \n na \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 46.0% \n \n \n 62.4% \n \n \n 48.8% \n \n \n nm \n \n \n 49.1% \n \n \n \n \n Total assets (£bn) \n \n \n 238.6 \n \n \n 29.1 \n \n \n 414.9 \n \n \n 48.2 \n \n \n 730.8 \n \n \n \n \n Funded assets (£bn)   (1) \n \n \n 238.6 \n \n \n 29.1 \n \n \n 343.1 \n \n \n 47.0 \n \n \n 657.8 \n \n \n \n \n Net loans to customers - amortised cost (£bn) \n \n \n 214.3 \n \n \n 18.6 \n \n \n 147.2 \n \n \n 27.0 \n \n \n 407.1 \n \n \n \n \n Loan impairment rate   (1) \n \n \n 22bps \n \n \n - \n \n \n 20bps \n \n \n nm \n \n \n 19bps \n \n \n \n \n Impairment provisions (£bn) \n \n \n (1.9) \n \n \n (0.1) \n \n \n (1.7) \n \n \n - \n \n \n (3.7) \n \n \n \n \n Impairment provisions - Stage 3 (£bn) \n \n \n (1.1) \n \n \n - \n \n \n (1.1) \n \n \n - \n \n \n (2.2) \n \n \n \n \n Customer deposits (£bn) \n \n \n 196.6 \n \n \n 41.3 \n \n \n 197.9 \n \n \n 1.0 \n \n \n 436.8 \n \n \n \n \n Risk-weighted assets (RWAs) (£bn) \n \n \n 69.4 \n \n \n 11.5 \n \n \n 107.8 \n \n \n 1.4 \n \n \n 190.1 \n \n \n \n \n RWA equivalent (RWAe) (£bn) \n \n \n 70.0 \n \n \n 11.5 \n \n \n 108.8 \n \n \n 2.0 \n \n \n 192.3 \n \n \n \n \n Employee numbers (FTEs - thousands) \n \n \n 11.8 \n \n \n 2.1 \n \n \n 12.8 \n \n \n 32.5 \n \n \n 59.2 \n \n \n \n \n Third party customer asset rate   (1) \n \n \n 4.32% \n \n \n 4.74% \n \n \n 6.00% \n \n \n nm \n \n \n nm \n \n \n \n \n Third party customer funding rate   (1) \n \n \n (1.79%) \n \n \n (2.74%) \n \n \n (1.60%) \n \n \n nm \n \n \n nm \n \n \n \n \n Average interest earning assets (£bn)   (1) \n \n \n 230.0 \n \n \n 28.5 \n \n \n 255.6 \n \n \n na \n \n \n 543.2 \n \n \n \n \n Net interest margin   (1) \n \n \n 2.59% \n \n \n 2.56% \n \n \n 2.35% \n \n \n na \n \n \n 2.28% \n \n \n \n \n nm = not meaningful, na = not applicable. \n (1)     Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n \n \n Segment performance continued \n \n \n \n \n   \n \n \n Quarter ended 30 September 2024 \n \n \n \n \n \n \n \n \n \n \n Private Banking \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail \n \n \n & Wealth \n \n \n Commercial   \n \n \n Central items \n \n \n Total NatWest \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n   & other \n \n \n Group \n \n \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Continuing operations \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income statement   \n \n \n \n \n \n \n \n Net interest income \n \n \n 1,350 \n \n \n 170 \n \n \n 1,392 \n \n \n (13) \n \n \n 2,899 \n \n \n \n \n Own credit adjustments \n \n \n - \n \n \n - \n \n \n 2 \n \n \n - \n \n \n 2 \n \n \n \n \n Other non-interest income \n \n \n 109 \n \n \n 83 \n \n \n 677 \n \n \n (26) \n \n \n 843 \n \n \n \n \n Total income   \n \n \n 1,459 \n \n \n 253 \n \n \n 2,071 \n \n \n (39) \n \n \n 3,744 \n \n \n \n \n Direct expenses \n \n \n (205) \n \n \n (64) \n \n \n (356) \n \n \n (1,159) \n \n \n (1,784) \n \n \n \n \n Indirect expenses \n \n \n (451) \n \n \n (102) \n \n \n (555) \n \n \n 1,108 \n \n \n - \n \n \n \n \n Other operating expenses \n \n \n (656) \n \n \n (166) \n \n \n (911) \n \n \n (51) \n \n \n (1,784) \n \n \n \n \n Litigation and conduct costs \n \n \n (3) \n \n \n - \n \n \n (34) \n \n \n (4) \n \n \n (41) \n \n \n \n \n Operating expenses \n \n \n (659) \n \n \n (166) \n \n \n (945) \n \n \n (55) \n \n \n (1,825) \n \n \n \n \n Operating profit/(loss) before impairment losses/releases \n \n \n 800 \n \n \n 87 \n \n \n 1,126 \n \n \n (94) \n \n \n 1,919 \n \n \n \n \n Impairment (losses)/releases \n \n \n (144) \n \n \n 3 \n \n \n (109) \n \n \n 5 \n \n \n (245) \n \n \n \n \n Operating profit /(loss) \n \n \n 656 \n \n \n 90 \n \n \n 1,017 \n \n \n (89) \n \n \n 1,674 \n \n \n \n \n \n \n \n \n \n \n \n \n Total income excluding notable items   (1) \n \n \n 1,459 \n \n \n 253 \n \n \n 2,069 \n \n \n (9) \n \n \n 3,772 \n \n \n \n \n \n \n \n \n \n \n \n \n Additional information \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Return on Tangible Equity   (1) \n \n \n na \n \n \n na \n \n \n na \n \n \n na \n \n \n 18.3% \n \n \n \n \n Return on equity   (1) \n \n \n 21.4% \n \n \n 19.7% \n \n \n 19.9% \n \n \n nm \n \n \n na \n \n \n \n \n Cost:income ratio (excl. litigation and conduct)   (1) \n \n \n 45.0% \n \n \n 65.6% \n \n \n 44.0% \n \n \n nm \n \n \n 47.6% \n \n \n \n \n Total assets (£bn) \n \n \n 231.1 \n \n \n 27.3 \n \n \n 398.7 \n \n \n 54.8 \n \n \n 711.9 \n \n \n \n \n Funded assets (£bn)   (1) \n \n \n 231.1 \n \n \n 27.3 \n \n \n 331.1 \n \n \n 53.7 \n \n \n 643.2 \n \n \n \n \n Net loans to customers - amortised cost (£bn) \n \n \n 207.4 \n \n \n 18.2 \n \n \n 138.1 \n \n \n 23.0 \n \n \n 386.7 \n \n \n \n \n Loan impairment rate   (1) \n \n \n 28bps \n \n \n (7bps) \n \n \n 31bps \n \n \n nm \n \n \n 25bps \n \n \n \n \n Impairment provisions (£bn) \n \n \n (1.9) \n \n \n (0.1) \n \n \n (1.6) \n \n \n - \n \n \n (3.6) \n \n \n \n \n Impairment provisions - Stage 3 (£bn) \n \n \n (1.1) \n \n \n - \n \n \n (1.0) \n \n \n - \n \n \n (2.1) \n \n \n \n \n Customer deposits (£bn) \n \n \n 192.0 \n \n \n 39.7 \n \n \n 195.7 \n \n \n 3.7 \n \n \n 431.1 \n \n \n \n \n Risk-weighted assets (RWAs) (£bn) \n \n \n 64.8 \n \n \n 11.0 \n \n \n 104.0 \n \n \n 1.9 \n \n \n 181.7 \n \n \n \n \n RWA equivalent (RWAe) (£bn) \n \n \n 65.3 \n \n \n 11.0 \n \n \n 105.3 \n \n \n 2.4 \n \n \n 184.0 \n \n \n \n \n Employee numbers (FTEs - thousands) \n \n \n 12.2 \n \n \n 2.2 \n \n \n 12.8 \n \n \n 32.5 \n \n \n 59.7 \n \n \n \n \n Third party customer asset rate   (1) \n \n \n 4.09% \n \n \n 5.01% \n \n \n 6.67% \n \n \n nm \n \n \n nm \n \n \n \n \n Third party customer funding rate   (1) \n \n \n (2.10%) \n \n \n (3.16%) \n \n \n (1.91%) \n \n \n nm \n \n \n nm \n \n \n \n \n Average interest earning assets (£bn)   (1) \n \n \n 221.4 \n \n \n 27.0 \n \n \n 246.8 \n \n \n na \n \n \n 529.8 \n \n \n \n \n Net interest margin   (1) \n \n \n 2.43% \n \n \n 2.50% \n \n \n 2.24% \n \n \n na \n \n \n 2.18% \n \n \n \n \n nm - not meaningful, na - not applicable \n (1)       Refer to the Non-IFRS financial measures appendix for details of the basis of preparation and reconciliation of non-IFRS financial measures and performance metrics. \n \n \n \n \n Risk and capital management \n Credit risk \n Segment analysis - portfolio summary \n The table below shows gross loans and ECL, by segment and stage, within the scope of the IFRS 9 ECL framework. \n \n \n \n \n \n \n \n 30 September 2025 \n \n \n \n \n \n 31 December 2024 \n \n \n \n \n \n \n \n   \n \n \n Private Banking \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n \n Private Banking \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Retail \n \n \n & Wealth \n \n \n Commercial   \n \n \n Central items   \n \n \n   \n \n \n \n \n \n Retail \n \n \n & Wealth \n \n \n Commercial   \n \n \n Central items   \n \n \n \n \n \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n & other \n \n \n Total \n \n \n \n \n \n Banking \n \n \n Management \n \n \n & Institutional \n \n \n & other \n \n \n Total \n \n \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Loans - amortised cost and FVOCI   (1,2) \n \n \n   \n \n \n   \n \n \n \n \n Stage 1 \n \n \n 189,140 \n \n \n 17,619 \n \n \n 138,333 \n \n \n 35,504 \n \n \n 380,596 \n \n \n \n \n \n 182,366 \n \n \n 17,155 \n \n \n 128,988 \n \n \n 35,312 \n \n \n 363,821 \n \n \n \n \n Stage 2 \n \n \n 25,529 \n \n \n 891 \n \n \n 14,510 \n \n \n 56 \n \n \n 40,986 \n \n \n \n \n \n 24,242 \n \n \n 844 \n \n \n 15,339 \n \n \n 49 \n \n \n 40,474 \n \n \n \n \n Stage 3 \n \n \n 3,068 \n \n \n 372 \n \n \n 2,286 \n \n \n 2 \n \n \n 5,728 \n \n \n \n \n \n 3,268 \n \n \n 322 \n \n \n 2,340 \n \n \n - \n \n \n 5,930 \n \n \n \n \n Of which: individual \n \n \n - \n \n \n 272 \n \n \n 1,290 \n \n \n - \n \n \n 1,562 \n \n \n   \n \n \n - \n \n \n 233 \n \n \n 1,052 \n \n \n - \n \n \n 1,285 \n \n \n \n \n Of which: collective \n \n \n 3,068 \n \n \n 100 \n \n \n 996 \n \n \n 2 \n \n \n 4,166 \n \n \n   \n \n \n 3,268 \n \n \n 89 \n \n \n 1,288 \n \n \n - \n \n \n 4,645 \n \n \n \n \n Total   \n \n \n 217,737 \n \n \n 18,882 \n \n \n 155,129 \n \n \n 35,562 \n \n \n 427,310 \n \n \n \n \n \n 209,876 \n \n \n 18,321 \n \n \n 146,667 \n \n \n 35,361 \n \n \n 410,225 \n \n \n \n \n ECL provisions   (3) \n \n \n   \n \n \n   \n \n \n \n \n Stage 1 \n \n \n 346 \n \n \n 14 \n \n \n 263 \n \n \n 14 \n \n \n 637 \n \n \n \n \n \n 279 \n \n \n 16 \n \n \n 289 \n \n \n 14 \n \n \n 598 \n \n \n \n \n Stage 2   \n \n \n 413 \n \n \n 10 \n \n \n 331 \n \n \n 1 \n \n \n 755 \n \n \n \n \n \n 428 \n \n \n 12 \n \n \n 346 \n \n \n 1 \n \n \n 787 \n \n \n \n \n Stage 3 \n \n \n 1,179 \n \n \n 45 \n \n \n 1,100 \n \n \n 1 \n \n \n 2,325 \n \n \n \n \n \n 1,063 \n \n \n 36 \n \n \n 941 \n \n \n - \n \n \n 2,040 \n \n \n \n \n Of which: individual \n \n \n - \n \n \n 45 \n \n \n 599 \n \n \n - \n \n \n 644 \n \n \n   \n \n \n - \n \n \n 36 \n \n \n 415 \n \n \n - \n \n \n 451 \n \n \n \n \n Of which: collective \n \n \n 1,179 \n \n \n - \n \n \n 501 \n \n \n 1 \n \n \n 1,681 \n \n \n   \n \n \n 1,063 \n \n \n - \n \n \n 526 \n \n \n - \n \n \n 1,589 \n \n \n \n \n Total   \n \n \n 1,938 \n \n \n 69 \n \n \n 1,694 \n \n \n 16 \n \n \n 3,717 \n \n \n \n \n \n 1,770 \n \n \n 64 \n \n \n 1,576 \n \n \n 15 \n \n \n 3,425 \n \n \n \n \n ECL provisions coverage   (4) \n \n \n   \n \n \n   \n \n \n \n \n Stage 1 (%) \n \n \n 0.18 \n \n \n 0.08 \n \n \n 0.19 \n \n \n 0.04 \n \n \n 0.17 \n \n \n \n \n \n 0.15 \n \n \n 0.09 \n \n \n 0.22 \n \n \n 0.04 \n \n \n 0.16 \n \n \n \n \n Stage 2 (%) \n \n \n 1.62 \n \n \n 1.12 \n \n \n 2.28 \n \n \n 1.79 \n \n \n 1.84 \n \n \n \n \n \n 1.77 \n \n \n 1.42 \n \n \n 2.26 \n \n \n 2.04 \n \n \n 1.94 \n \n \n \n \n Stage 3 (%) \n \n \n 38.43 \n \n \n 12.10 \n \n \n 48.12 \n \n \n 50.00 \n \n \n 40.59 \n \n \n \n \n \n 32.53 \n \n \n 11.18 \n \n \n 40.21 \n \n \n - \n \n \n 34.40 \n \n \n \n \n Total   \n \n \n 0.89 \n \n \n 0.37 \n \n \n 1.09 \n \n \n 0.04 \n \n \n 0.87 \n \n \n \n \n \n 0.84 \n \n \n 0.35 \n \n \n 1.07 \n \n \n 0.04 \n \n \n 0.83 \n \n \n \n \n (1)     The table shows gross loans only and excludes amounts that were outside the scope of the ECL framework. Other financial assets within the scope of the IFRS 9 ECL framework were cash and balances at central banks totalling £83.5 billion (31 December 2024 - £91.8 billion) and debt securities of £70.7 billion (31 December 2024 - £62.4 billion). \n (2)     Fair value through other comprehensive income (FVOCI). Includes loans to customers and banks. \n (3)     Includes £4 million (31 December 2024 - £4 million) related to assets classified as FVOCI and £0.1 billion (31 December 2024 - £0.1 billion) related to off-balance sheet exposures. \n (4)     ECL provisions coverage is calculated as ECL provisions, including ECL for other non-loan assets and unutilised exposure, divided by loans - amortised cost and FVOCI. Some segments with a high proportion of debt securities or unutilised exposure may result in a not meaningful (nm) coverage ratio. \n \n \n \n Risk and capital management continued \n Credit risk continued \n Segment analysis - loans \n ·    Retail Banking - A sset quality and arrears rates remained stable and within expectations during the year. The overall 2025 increase in good book and total ECL coverage was largely driven by the acquisition of the Sainsbury's Bank portfolio earlier this year which, in conjunction with continued organic growth on cards and personal loan portfolios, increased the unsecured portfolio mix. Good book coverage for Retail Banking remained stable, reflecting portfolio arrears trends and no change to economic scenarios The good book ECL on credit cards reduced due to a decrease in exposure at default on inaccessible limits. The reduction in the proportion of Stage 3 loans this year was influenced by both the acquisition of the Sainsbury's Bank portfolio on unsecured and an enhancement to the application of the definition of default used on mortgages. The latter resulted in a £0.4 billion migration of loans from Stage 3 back to the good book. \n Commercial & Institutional - Increased coverage in the portfolio primarily reflected the impact of defaulted charges in the first half of the year, driven by a small number of individual charges. Underlying default rates and total number of defaults remained subdued, reflecting overall stable portfolio performance. Performing book ECL reduced in the year, in line with economic improvements and reductions in post model adjustments, even as total performing book exposure increased. \n   \n Movement in ECL provision \n The table below shows the main ECL provision movements during the year. \n   \n \n \n \n \n \n \n \n ECL provision \n \n \n \n \n \n \n \n £m \n \n \n \n \n At 1 January 2025 \n \n \n 3,425 \n \n \n \n \n Acquisitions \n \n \n 81 \n \n \n \n \n Changes in economic forecasts \n \n \n 10 \n \n \n \n \n Changes in risk metrics and exposure: Stage 1 and Stage 2 \n \n \n (20) \n \n \n \n \n Changes in risk metrics and exposure: Stage 3 \n \n \n 564 \n \n \n \n \n Judgemental changes: changes in post model adjustments for Stage 1, \n \n \n   \n \n \n \n \n    Stage 2 and Stage 3 \n \n \n (71) \n \n \n \n \n Write-offs and other \n \n \n (272) \n \n \n \n \n At 30 September 2025 \n \n \n 3,717 \n \n \n \n \n   \n -    For the nine months to 30 September 2025, overall ECL increased following Non-Personal Stage 3 charges and an increase in good book ECL in the Personal portfolio, driven by the Sainsbury's Bank portfolio acquisition. \n -    For the Non-Personal portfolio, ECL increased this year from Stage 3 charges, driven by a small number of individual charges in the Commercial & Institutional portfolio. This was partially offset by post model adjustment releases in the good book.  \n -    In the Personal portfolios, default inflows were broadly stable for the nine months to 30 September 2025. However, Stage 3 ECL increased year-to-date on all unsecured portfolios, with reduced debt sale activity. In 2025, there was a reduction of Stage 3 ECL on mortgages related to an enhancement to the application of the definition of default, resulting in a £0.4 billion migration of loans from Stage 3 to the good book. \n -    Judgemental ECL post model adjustments decreased this year to £265 million (31 December 2024 - £336 million) representing 7.1% of total ECL (31 December 2024 - 9.8%). This reflected revisions to the Retail Banking cost of living post model adjustment after regular back-testing, and Non-Personal portfolio improvements in underlying risk profile.  \n \n \n \n Risk and capital management continued \n Credit risk continued \n ECL post model adjustments \n The table below shows ECL post model adjustments. \n \n \n \n \n \n \n \n   \n \n \n \n \n \n Private Banking \n \n \n   \n \n \n   \n \n \n \n \n \n \n \n Retail Banking \n \n \n \n \n \n & Wealth \n \n \n Commercial \n \n \n   \n \n \n \n \n \n \n \n Mortgages \n \n \n Other \n \n \n   \n \n \n   Management \n \n \n   & Institutional \n \n \n Total \n \n \n \n \n 30 September 2025 \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n Deferred model   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n    calibrations \n \n \n - \n \n \n - \n \n \n   \n \n \n 1 \n \n \n 13 \n \n \n 14 \n \n \n \n \n Economic uncertainty \n \n \n 55 \n \n \n 31 \n \n \n   \n \n \n 8 \n \n \n 139 \n \n \n 233 \n \n \n \n \n Other adjustments \n \n \n - \n \n \n - \n \n \n   \n \n \n - \n \n \n 18 \n \n \n 18 \n \n \n \n \n Total \n \n \n 55 \n \n \n 31 \n \n \n   \n \n \n 9 \n \n \n 170 \n \n \n 265 \n \n \n \n \n Of which: \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n - Stage 1 \n \n \n 40 \n \n \n 13 \n \n \n   \n \n \n 4 \n \n \n 73 \n \n \n 130 \n \n \n \n \n - Stage 2 \n \n \n 15 \n \n \n 18 \n \n \n   \n \n \n 5 \n \n \n 97 \n \n \n 135 \n \n \n \n \n - Stage 3 \n \n \n - \n \n \n - \n \n \n   \n \n \n - \n \n \n - \n \n \n - \n \n \n \n \n   \n \n \n \n \n 31 December 2024 \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n Deferred model   \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n    calibrations \n \n \n - \n \n \n - \n \n \n \n \n \n 1 \n \n \n 18 \n \n \n 19 \n \n \n \n \n Economic uncertainty \n \n \n 90 \n \n \n 22 \n \n \n \n \n \n 8 \n \n \n 179 \n \n \n 299 \n \n \n \n \n Other adjustments \n \n \n - \n \n \n - \n \n \n \n \n \n - \n \n \n 18 \n \n \n 18 \n \n \n \n \n Total \n \n \n 90 \n \n \n 22 \n \n \n \n \n \n 9 \n \n \n 215 \n \n \n 336 \n \n \n \n \n Of which: \n \n \n \n \n \n \n \n \n   \n \n \n \n \n \n \n \n \n \n \n \n \n \n - Stage 1 \n \n \n 58 \n \n \n 9 \n \n \n   \n \n \n 5 \n \n \n 94 \n \n \n 166 \n \n \n \n \n - Stage 2 \n \n \n 26 \n \n \n 13 \n \n \n   \n \n \n 4 \n \n \n 119 \n \n \n 162 \n \n \n \n \n - Stage 3 \n \n \n 6 \n \n \n - \n \n \n   \n \n \n - \n \n \n 2 \n \n \n 8 \n \n \n \n \n \n   \n   \n Post model adjustments reduced since 31 December 2024, reflecting updates to post model adjustment parameters. \n -    Retail Banking - As at 30 September 2025, the post model adjustment for economic uncertainty decreased to £86 million (31 December 2024 - £112 million). This reduction was driven by a revision to the cost of living post model adjustment, which now stands at £86 million (31 December 2024 - £105 million), and is the sole remaining economic uncertainty post model adjustment. This change was based on a review of back-testing. Despite ongoing economic and geopolitical uncertainty, the Retail Banking portfolios demonstrated resilience, supported by a robust risk appetite. The cost of living post model adjustment continued to address the risk in segments of the Retail Banking portfolio that were more susceptible to affordability challenges. It focused on key affordability factors, including lower income customers in fuel poverty, over-indebted borrowers, and customers vulnerable to higher mortgage rates. \n -      Commercial & Institutional - As at 30 September 2025, the post model adjustment for economic uncertainty decreased to £139 million (31 December 2024 - £179 million). The inflation, supply chain and liquidity post model adjustment of £123 million (31 December 2024 - £150 million) for lending prior to 1 January 2024, remained the largest component of this adjustment. Downgrades to risk profiles were applied to the sectors that were considered most at risk from the current economic and geopolitical headwinds, with the level of downgrade reviewed to ensure the latest risks were appropriately captured. The £27 million decrease reflected improved risk metrics along with reduced exposure in the portfolio subject to the adjustment, through either repayment or default. \n \n \n \n Risk and capital management continued \n Credit risk continued \n Sector analysis - portfolio summary \n The table below shows financial assets and off-balance sheet exposures gross of ECL and related ECL provisions, impairment and past due by sector, asset quality and geographical region. \n \n \n \n \n \n \n \n Personal \n \n \n   \n \n \n Non-Personal \n \n \n \n \n \n   \n \n \n \n \n \n \n \n   \n \n \n Credit \n \n \n Other   \n \n \n   \n \n \n   \n \n \n Corporate and   \n \n \n Financial \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n Mortgages (1) \n \n \n   cards \n \n \n personal \n \n \n Total \n \n \n   \n \n \n other \n \n \n institutions \n \n \n Sovereign \n \n \n Total \n \n \n \n \n \n Total \n \n \n \n \n 30 September 2025 \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n \n \n Loans by geography \n \n \n 215,140 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,862 \n \n \n   \n \n \n 115,024 \n \n \n 76,100 \n \n \n 1,324 \n \n \n 192,448 \n \n \n   \n \n \n 427,310 \n \n \n \n \n   - UK \n \n \n 215,128 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,850 \n \n \n   \n \n \n 99,727 \n \n \n 48,581 \n \n \n 491 \n \n \n 148,799 \n \n \n   \n \n \n 383,649 \n \n \n \n \n   - Other Europe \n \n \n 12 \n \n \n - \n \n \n - \n \n \n 12 \n \n \n   \n \n \n 6,694 \n \n \n 13,989 \n \n \n 369 \n \n \n 21,052 \n \n \n   \n \n \n 21,064 \n \n \n \n \n   - RoW \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 8,603 \n \n \n 13,530 \n \n \n 464 \n \n \n 22,597 \n \n \n   \n \n \n 22,597 \n \n \n \n \n Loans by asset quality   (2)   \n \n \n 215,140 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,862 \n \n \n   \n \n \n 115,024 \n \n \n 76,100 \n \n \n 1,324 \n \n \n 192,448 \n \n \n   \n \n \n 427,310 \n \n \n \n \n   - AQ1-AQ4 \n \n \n 118,453 \n \n \n 124 \n \n \n 887 \n \n \n 119,464 \n \n \n   \n \n \n 44,200 \n \n \n 70,744 \n \n \n 913 \n \n \n 115,857 \n \n \n   \n \n \n 235,321 \n \n \n \n \n   - AQ5-AQ8 \n \n \n 93,366 \n \n \n 7,796 \n \n \n 9,353 \n \n \n 110,515 \n \n \n   \n \n \n 68,382 \n \n \n 5,217 \n \n \n 129 \n \n \n 73,728 \n \n \n   \n \n \n 184,243 \n \n \n \n \n   - AQ9 \n \n \n 1,163 \n \n \n 130 \n \n \n 204 \n \n \n 1,497 \n \n \n   \n \n \n 251 \n \n \n 3 \n \n \n 265 \n \n \n 519 \n \n \n   \n \n \n 2,016 \n \n \n \n \n   - AQ10 \n \n \n 2,158 \n \n \n 225 \n \n \n 1,003 \n \n \n 3,386 \n \n \n   \n \n \n 2,191 \n \n \n 136 \n \n \n 17 \n \n \n 2,344 \n \n \n   \n \n \n 5,730 \n \n \n \n \n Loans by stage   \n \n \n 215,140 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,862 \n \n \n   \n \n \n 115,024 \n \n \n 76,100 \n \n \n 1,324 \n \n \n 192,448 \n \n \n   \n \n \n 427,310 \n \n \n \n \n   - Stage 1 \n \n \n 190,571 \n \n \n 6,046 \n \n \n 8,966 \n \n \n 205,583 \n \n \n   \n \n \n 98,545 \n \n \n 75,427 \n \n \n 1,041 \n \n \n 175,013 \n \n \n   \n \n \n 380,596 \n \n \n \n \n   - Stage 2 \n \n \n 22,408 \n \n \n 2,004 \n \n \n 1,478 \n \n \n 25,890 \n \n \n   \n \n \n 14,293 \n \n \n 537 \n \n \n 266 \n \n \n 15,096 \n \n \n   \n \n \n 40,986 \n \n \n \n \n   - Stage 3 \n \n \n 2,161 \n \n \n 225 \n \n \n 1,003 \n \n \n 3,389 \n \n \n   \n \n \n 2,186 \n \n \n 136 \n \n \n 17 \n \n \n 2,339 \n \n \n   \n \n \n 5,728 \n \n \n \n \n   - Of which: individual \n \n \n 154 \n \n \n 1 \n \n \n 26 \n \n \n 181 \n \n \n   \n \n \n 1,241 \n \n \n 123 \n \n \n 17 \n \n \n 1,381 \n \n \n   \n \n \n 1,562 \n \n \n \n \n   - Of which: collective \n \n \n 2,007 \n \n \n 224 \n \n \n 977 \n \n \n 3,208 \n \n \n   \n \n \n 945 \n \n \n 13 \n \n \n - \n \n \n 958 \n \n \n   \n \n \n 4,166 \n \n \n \n \n Loans - past due analysis \n \n \n 215,140 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,862 \n \n \n   \n \n \n 115,024 \n \n \n 76,100 \n \n \n 1,324 \n \n \n 192,448 \n \n \n   \n \n \n 427,310 \n \n \n \n \n   - Not past due \n \n \n 211,764 \n \n \n 7,987 \n \n \n 10,421 \n \n \n 230,172 \n \n \n   \n \n \n 111,908 \n \n \n 75,826 \n \n \n 1,307 \n \n \n 189,041 \n \n \n   \n \n \n 419,213 \n \n \n \n \n   - Past due 1-30 days \n \n \n 1,614 \n \n \n 64 \n \n \n 76 \n \n \n 1,754 \n \n \n   \n \n \n 1,869 \n \n \n 150 \n \n \n - \n \n \n 2,019 \n \n \n   \n \n \n 3,773 \n \n \n \n \n   - Past due 31-90 days \n \n \n 581 \n \n \n 74 \n \n \n 108 \n \n \n 763 \n \n \n   \n \n \n 380 \n \n \n 9 \n \n \n 17 \n \n \n 406 \n \n \n   \n \n \n 1,169 \n \n \n \n \n   - Past due 91-180 days \n \n \n 409 \n \n \n 55 \n \n \n 104 \n \n \n 568 \n \n \n   \n \n \n 105 \n \n \n 65 \n \n \n - \n \n \n 170 \n \n \n   \n \n \n 738 \n \n \n \n \n   - Past due >180 days \n \n \n 772 \n \n \n 95 \n \n \n 738 \n \n \n 1,605 \n \n \n   \n \n \n 762 \n \n \n 50 \n \n \n - \n \n \n 812 \n \n \n   \n \n \n 2,417 \n \n \n \n \n Loans - Stage 2 \n \n \n 22,408 \n \n \n 2,004 \n \n \n 1,478 \n \n \n 25,890 \n \n \n   \n \n \n 14,293 \n \n \n 537 \n \n \n 266 \n \n \n 15,096 \n \n \n   \n \n \n 40,986 \n \n \n \n \n   - Not past due \n \n \n 20,992 \n \n \n 1,915 \n \n \n 1,368 \n \n \n 24,275 \n \n \n   \n \n \n 13,449 \n \n \n 532 \n \n \n 266 \n \n \n 14,247 \n \n \n   \n \n \n 38,522 \n \n \n \n \n   - Past due 1-30 days \n \n \n 1,142 \n \n \n 37 \n \n \n 39 \n \n \n 1,218 \n \n \n   \n \n \n 579 \n \n \n 3 \n \n \n - \n \n \n 582 \n \n \n   \n \n \n 1,800 \n \n \n \n \n   - Past due 31-90 days \n \n \n 274 \n \n \n 52 \n \n \n 71 \n \n \n 397 \n \n \n   \n \n \n 265 \n \n \n 2 \n \n \n - \n \n \n 267 \n \n \n   \n \n \n 664 \n \n \n \n \n Weighted average life   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n    - ECL measurement (years) \n \n \n 9 \n \n \n 4 \n \n \n 6 \n \n \n 5 \n \n \n   \n \n \n 7 \n \n \n 4 \n \n \n nm \n \n \n 7 \n \n \n   \n \n \n 6 \n \n \n \n \n Weighted average 12 months PDs \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n   \n \n \n \n \n   - IFRS 9 (%) \n \n \n 0.44 \n \n \n 3.46 \n \n \n 4.68 \n \n \n 0.70 \n \n \n   \n \n \n 1.13 \n \n \n 0.16 \n \n \n 9.34 \n \n \n 0.80 \n \n \n   \n \n \n 0.75 \n \n \n \n \n   - Basel (%) \n \n \n 0.66 \n \n \n 3.87 \n \n \n 3.35 \n \n \n 0.87 \n \n \n   \n \n \n 1.06 \n \n \n 0.15 \n \n \n 9.34 \n \n \n 0.75 \n \n \n   \n \n \n 0.82 \n \n \n \n \n ECL provisions by geography \n \n \n 377 \n \n \n 469 \n \n \n 1,134 \n \n \n 1,980 \n \n \n   \n \n \n 1,564 \n \n \n 149 \n \n \n 24 \n \n \n 1,737 \n \n \n   \n \n \n 3,717 \n \n \n \n \n   - UK \n \n \n 376 \n \n \n 469 \n \n \n 1,134 \n \n \n 1,979 \n \n \n   \n \n \n 1,389 \n \n \n 99 \n \n \n 12 \n \n \n 1,500 \n \n \n   \n \n \n 3,479 \n \n \n \n \n   - Other Europe \n \n \n 1 \n \n \n - \n \n \n - \n \n \n 1 \n \n \n   \n \n \n 115 \n \n \n 9 \n \n \n - \n \n \n 124 \n \n \n   \n \n \n 125 \n \n \n \n \n   - RoW \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 60 \n \n \n 41 \n \n \n 12 \n \n \n 113 \n \n \n   \n \n \n 113 \n \n \n \n \n   \n For the notes to this table refer to page 21. \n \n \n Risk and capital management continued \n Credit risk continued \n Sector analysis - portfolio summary continued \n \n \n \n \n \n \n \n Personal \n \n \n   \n \n \n Non-Personal \n \n \n \n \n \n   \n \n \n \n \n \n \n \n   \n \n \n Credit \n \n \n Other \n \n \n   \n \n \n   \n \n \n Corporate and   \n \n \n Financial \n \n \n   \n \n \n   \n \n \n \n \n \n   \n \n \n \n \n \n \n \n Mortgages (1) \n \n \n   cards \n \n \n personal \n \n \n Total \n \n \n   \n \n \n other \n \n \n institutions \n \n \n Sovereign \n \n \n Total \n \n \n \n \n \n Total \n \n \n \n \n 30 September 2025 \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n   \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n \n \n ECL provisions by stage   \n \n \n 377 \n \n \n 469 \n \n \n 1,134 \n \n \n 1,980 \n \n \n   \n \n \n 1,564 \n \n \n 149 \n \n \n 24 \n \n \n 1,737 \n \n \n   \n \n \n 3,717 \n \n \n \n \n   - Stage 1 \n \n \n 55 \n \n \n 121 \n \n \n 175 \n \n \n 351 \n \n \n   \n \n \n 235 \n \n \n 38 \n \n \n 13 \n \n \n 286 \n \n \n   \n \n \n 637 \n \n \n \n \n   - Stage 2 \n \n \n 46 \n \n \n 185 \n \n \n 184 \n \n \n 415 \n \n \n   \n \n \n 326 \n \n \n 9 \n \n \n 5 \n \n \n 340 \n \n \n   \n \n \n 755 \n \n \n \n \n   - Stage 3 \n \n \n 276 \n \n \n 163 \n \n \n 775 \n \n \n 1,214 \n \n \n   \n \n \n 1,003 \n \n \n 102 \n \n \n 6 \n \n \n 1,111 \n \n \n   \n \n \n 2,325 \n \n \n \n \n   - Of which: individual \n \n \n 14 \n \n \n 1 \n \n \n 13 \n \n \n 28 \n \n \n   \n \n \n 511 \n \n \n 99 \n \n \n 6 \n \n \n 616 \n \n \n   \n \n \n 644 \n \n \n \n \n   - Of which: collective \n \n \n 262 \n \n \n 162 \n \n \n 762 \n \n \n 1,186 \n \n \n   \n \n \n 492 \n \n \n 3 \n \n \n - \n \n \n 495 \n \n \n   \n \n \n 1,681 \n \n \n \n \n ECL provisions coverage (%) \n \n \n 0.18 \n \n \n 5.67 \n \n \n 9.91 \n \n \n 0.84 \n \n \n   \n \n \n 1.36 \n \n \n 0.20 \n \n \n 1.81 \n \n \n 0.90 \n \n \n   \n \n \n 0.87 \n \n \n \n \n   - Stage 1 (%) \n \n \n 0.03 \n \n \n 2.00 \n \n \n 1.95 \n \n \n 0.17 \n \n \n   \n \n \n 0.24 \n \n \n 0.05 \n \n \n 1.25 \n \n \n 0.16 \n \n \n   \n \n \n 0.17 \n \n \n \n \n   - Stage 2 (%) \n \n \n 0.21 \n \n \n 9.23 \n \n \n 12.45 \n \n \n 1.60 \n \n \n   \n \n \n 2.28 \n \n \n 1.68 \n \n \n 1.88 \n \n \n 2.25 \n \n \n   \n \n \n 1.84 \n \n \n \n \n   - Stage 3 (%) \n \n \n 12.77 \n \n \n 72.44 \n \n \n 77.27 \n \n \n 35.82 \n \n \n   \n \n \n 45.88 \n \n \n 75.00 \n \n \n 35.29 \n \n \n 47.50 \n \n \n   \n \n \n 40.59 \n \n \n \n \n Loans by residual maturity \n \n \n 215,140 \n \n \n 8,275 \n \n \n 11,447 \n \n \n 234,862 \n \n \n   \n \n \n 115,024 \n \n \n 76,100 \n \n \n 1,324 \n \n \n 192,448 \n \n \n   \n \n \n 427,310 \n \n \n \n \n   - ≤ 1 year   \n \n \n 2,115 \n \n \n 2,515 \n \n \n 2,969 \n \n \n 7,599 \n \n \n   \n \n \n 32,738 \n \n \n 55,837 \n \n \n 362 \n \n \n 88,937 \n \n \n   \n \n \n 96,536 \n \n \n \n \n   - >1 and ≤ 5 year \n \n \n 8,555 \n \n \n 5,760 \n \n \n 6,800 \n \n \n 21,115 \n \n \n   \n \n \n 50,610 \n \n \n 15,618 \n \n \n 516 \n \n \n 66,744 \n \n \n   \n \n \n 87,859 \n \n \n \n \n   - >5 and ≤ 15 year \n \n \n 42,899 \n \n \n - \n \n \n 1,674 \n \n \n 44,573 \n \n \n   \n \n \n 23,154 \n \n \n 4,510 \n \n \n 288 \n \n \n 27,952 \n \n \n   \n \n \n 72,525 \n \n \n \n \n   - >15 year \n \n \n 161,571 \n \n \n - \n \n \n 4 \n \n \n 161,575 \n \n \n   \n \n \n 8,522 \n \n \n 135 \n \n \n 158 \n \n \n 8,815 \n \n \n   \n \n \n 170,390 \n \n \n \n \n Other financial assets by asset quality   (2) \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 4,440 \n \n \n 25,091 \n \n \n 124,670 \n \n \n 154,201 \n \n \n   \n \n \n 154,201 \n \n \n \n \n   - AQ1-AQ4 \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 4,386 \n \n \n 24,996 \n \n \n 124,670 \n \n \n 154,052 \n \n \n   \n \n \n 154,052 \n \n \n \n \n   - AQ5-AQ8 \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 54 \n \n \n 95 \n \n \n - \n \n \n 149 \n \n \n   \n \n \n 149 \n \n \n \n \n Off-balance sheet \n \n \n 15,073 \n \n \n 23,265 \n \n \n 7,666 \n \n \n 46,004 \n \n \n   \n \n \n 76,836 \n \n \n 21,560 \n \n \n 491 \n \n \n 98,887 \n \n \n   \n \n \n 144,891 \n \n \n \n \n   - Loan commitments \n \n \n 15,073 \n \n \n 23,265 \n \n \n 7,629 \n \n \n 45,967 \n \n \n   \n \n \n 73,984 \n \n \n 20,073 \n \n \n 491 \n \n \n 94,548 \n \n \n   \n \n \n 140,515 \n \n \n \n \n   - Financial guarantees \n \n \n - \n \n \n - \n \n \n 37 \n \n \n 37 \n \n \n   \n \n \n 2,852 \n \n \n 1,487 \n \n \n - \n \n \n 4,339 \n \n \n   \n \n \n 4,376 \n \n \n \n \n Off-balance sheet by asset quality   (2) \n \n \n 15,073 \n \n \n 23,265 \n \n \n 7,666 \n \n \n 46,004 \n \n \n   \n \n \n 76,836 \n \n \n 21,560 \n \n \n 491 \n \n \n 98,887 \n \n \n   \n \n \n 144,891 \n \n \n \n \n   - AQ1-AQ4 \n \n \n 14,212 \n \n \n 471 \n \n \n 6,222 \n \n \n 20,905 \n \n \n   \n \n \n 48,850 \n \n \n 19,679 \n \n \n 100 \n \n \n 68,629 \n \n \n   \n \n \n 89,534 \n \n \n \n \n   - AQ5-AQ8 \n \n \n 850 \n \n \n 22,701 \n \n \n 1,401 \n \n \n 24,952 \n \n \n   \n \n \n 27,599 \n \n \n 1,837 \n \n \n 15 \n \n \n 29,451 \n \n \n   \n \n \n 54,403 \n \n \n \n \n   - AQ9   \n \n \n - \n \n \n 12 \n \n \n 14 \n \n \n 26 \n \n \n   \n \n \n 17 \n \n \n - \n \n \n 376 \n \n \n 393 \n \n \n   \n \n \n 419 \n \n \n \n \n   - AQ10 \n \n \n 11 \n \n \n 81 \n \n \n 29 \n \n \n 121 \n \n \n   \n \n \n 370 \n \n \n 44 \n \n \n - \n \n \n 414 \n \n \n   \n \n \n 535 \n \n \n \n \n   \n For the notes to this table refer to page 21. \n   \n \n \n Risk and capital management continued \n Credit risk continued \n Sector analysis - portfolio summary continued \n \n \n \n \n \n \n \n Personal \n \n \n \n \n \n Non-Personal \n \n \n \n \n \n \n \n \n \n \n \n \n \n Credit \n \n \n Other \n \n \n \n \n \n \n \n \n Corporate and   \n \n \n Financial \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Mortgages (1) \n \n \n   cards \n \n \n personal \n \n \n Total \n \n \n \n \n \n other \n \n \n institutions \n \n \n Sovereign \n \n \n Total \n \n \n \n \n \n Total \n \n \n \n \n 31 December 2024 \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n \n \n Loans by geography \n \n \n 209,846 \n \n \n 6,930 \n \n \n 9,749 \n \n \n 226,525 \n \n \n \n \n \n 111,734 \n \n \n 70,321 \n \n \n 1,645 \n \n \n 183,700 \n \n \n \n \n \n 410,225 \n \n \n \n \n   - UK \n \n \n 209,846 \n \n \n 6,930 \n \n \n 9,749 \n \n \n 226,525 \n \n \n   \n \n \n 97,409 \n \n \n 43,412 \n \n \n 562 \n \n \n 141,383 \n \n \n   \n \n \n 367,908 \n \n \n \n \n   - Other Europe \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 6,311 \n \n \n 14,747 \n \n \n 766 \n \n \n 21,824 \n \n \n   \n \n \n 21,824 \n \n \n \n \n   - RoW \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 8,014 \n \n \n 12,162 \n \n \n 317 \n \n \n 20,493 \n \n \n   \n \n \n 20,493 \n \n \n \n \n Loans by asset quality   (2)   \n \n \n 209,846 \n \n \n 6,930 \n \n \n 9,749 \n \n \n 226,525 \n \n \n \n \n \n 111,734 \n \n \n 70,321 \n \n \n 1,645 \n \n \n 183,700 \n \n \n \n \n \n 410,225 \n \n \n \n \n   - AQ1-AQ4 \n \n \n 113,209 \n \n \n 128 \n \n \n 818 \n \n \n 114,155 \n \n \n   \n \n \n 43,918 \n \n \n 65,078 \n \n \n 1,365 \n \n \n 110,361 \n \n \n   \n \n \n 224,516 \n \n \n \n \n   - AQ5-AQ8 \n \n \n 92,946 \n \n \n 6,516 \n \n \n 7,880 \n \n \n 107,342 \n \n \n   \n \n \n 65,231 \n \n \n 5,172 \n \n \n 127 \n \n \n 70,530 \n \n \n   \n \n \n 177,872 \n \n \n \n \n   - AQ9 \n \n \n 1,156 \n \n \n 110 \n \n \n 191 \n \n \n 1,457 \n \n \n   \n \n \n 306 \n \n \n 12 \n \n \n 132 \n \n \n 450 \n \n \n   \n \n \n 1,907 \n \n \n \n \n   - AQ10 \n \n \n 2,535 \n \n \n 176 \n \n \n 860 \n \n \n 3,571 \n \n \n   \n \n \n 2,279 \n \n \n 59 \n \n \n 21 \n \n \n 2,359 \n \n \n   \n \n \n 5,930 \n \n \n \n \n Loans by stage \n \n \n 209,846 \n \n \n 6,930 \n \n \n 9,749 \n \n \n 226,525 \n \n \n \n \n \n 111,734 \n \n \n 70,321 \n \n \n 1,645 \n \n \n 183,700 \n \n \n \n \n \n 410,225 \n \n \n \n \n   - Stage 1 \n \n \n 186,250 \n \n \n 4,801 \n \n \n 7,267 \n \n \n 198,318 \n \n \n   \n \n \n 94,991 \n \n \n 69,021 \n \n \n 1,491 \n \n \n 165,503 \n \n \n   \n \n \n 363,821 \n \n \n \n \n   - Stage 2 \n \n \n 21,061 \n \n \n 1,953 \n \n \n 1,622 \n \n \n 24,636 \n \n \n   \n \n \n 14,464 \n \n \n 1,241 \n \n \n 133 \n \n \n 15,838 \n \n \n   \n \n \n 40,474 \n \n \n \n \n   - Stage 3 \n \n \n 2,535 \n \n \n 176 \n \n \n 860 \n \n \n 3,571 \n \n \n   \n \n \n 2,279 \n \n \n 59 \n \n \n 21 \n \n \n 2,359 \n \n \n   \n \n \n 5,930 \n \n \n \n \n   - Of which: individual \n \n \n 141 \n \n \n - \n \n \n 26 \n \n \n 167 \n \n \n   \n \n \n 1,046 \n \n \n 51 \n \n \n 21 \n \n \n 1,118 \n \n \n   \n \n \n 1,285 \n \n \n \n \n   - Of which: collective \n \n \n 2,394 \n \n \n 176 \n \n \n 834 \n \n \n 3,404 \n \n \n   \n \n \n 1,233 \n \n \n 8 \n \n \n - \n \n \n 1,241 \n \n \n   \n \n \n 4,645 \n \n \n \n \n Loans - past due analysis \n \n \n 209,846 \n \n \n 6,930 \n \n \n 9,749 \n \n \n 226,525 \n \n \n \n \n \n 111,734 \n \n \n 70,321 \n \n \n 1,645 \n \n \n 183,700 \n \n \n \n \n \n 410,225 \n \n \n \n \n   - Not past due \n \n \n 206,739 \n \n \n 6,721 \n \n \n 8,865 \n \n \n 222,325 \n \n \n   \n \n \n 107,855 \n \n \n 70,055 \n \n \n 1,627 \n \n \n 179,537 \n \n \n   \n \n \n 401,862 \n \n \n \n \n   - Past due 1-30 days \n \n \n 1,404 \n \n \n 50 \n \n \n 70 \n \n \n 1,524 \n \n \n   \n \n \n 2,530 \n \n \n 211 \n \n \n - \n \n \n 2,741 \n \n \n   \n \n \n 4,265 \n \n \n \n \n   - Past due 31-90 days \n \n \n 580 \n \n \n 51 \n \n \n 99 \n \n \n 730 \n \n \n   \n \n \n 398 \n \n \n 2 \n \n \n 18 \n \n \n 418 \n \n \n   \n \n \n 1,148 \n \n \n \n \n   - Past due 91-180 days \n \n \n 408 \n \n \n 41 \n \n \n 96 \n \n \n 545 \n \n \n   \n \n \n 139 \n \n \n 49 \n \n \n - \n \n \n 188 \n \n \n   \n \n \n 733 \n \n \n \n \n   - Past due >180 days \n \n \n 715 \n \n \n 67 \n \n \n 619 \n \n \n 1,401 \n \n \n   \n \n \n 812 \n \n \n 4 \n \n \n - \n \n \n 816 \n \n \n   \n \n \n 2,217 \n \n \n \n \n Loans - Stage 2 \n \n \n 21,061 \n \n \n 1,953 \n \n \n 1,622 \n \n \n 24,636 \n \n \n \n \n \n 14,464 \n \n \n 1,241 \n \n \n 133 \n \n \n 15,838 \n \n \n \n \n \n 40,474 \n \n \n \n \n   - Not past due \n \n \n 19,939 \n \n \n 1,889 \n \n \n 1,521 \n \n \n 23,349 \n \n \n   \n \n \n 13,485 \n \n \n 1,228 \n \n \n 133 \n \n \n 14,846 \n \n \n   \n \n \n 38,195 \n \n \n \n \n   - Past due 1-30 days \n \n \n 853 \n \n \n 31 \n \n \n 37 \n \n \n 921 \n \n \n   \n \n \n 640 \n \n \n 11 \n \n \n - \n \n \n 651 \n \n \n   \n \n \n 1,572 \n \n \n \n \n   - Past due 31-90 days \n \n \n 269 \n \n \n 33 \n \n \n 64 \n \n \n 366 \n \n \n   \n \n \n 339 \n \n \n 2 \n \n \n - \n \n \n 341 \n \n \n   \n \n \n 707 \n \n \n \n \n Weighted average life \n \n \n \n \n \n \n \n    - ECL measurement (years) \n \n \n 8 \n \n \n 4 \n \n \n 6 \n \n \n 6 \n \n \n   \n \n \n 6 \n \n \n 2 \n \n \n nm \n \n \n 6 \n \n \n   \n \n \n 6 \n \n \n \n \n Weighted average 12 months PDs \n \n \n   \n \n \n \n \n \n \n \n   - IFRS 9 (%) \n \n \n 0.51 \n \n \n 3.23 \n \n \n 4.59 \n \n \n 0.76 \n \n \n   \n \n \n 1.24 \n \n \n 0.16 \n \n \n 5.51 \n \n \n 0.86 \n \n \n   \n \n \n 0.80 \n \n \n \n \n   - Basel (%) \n \n \n 0.68 \n \n \n 3.65 \n \n \n 3.18 \n \n \n 0.87 \n \n \n   \n \n \n 1.11 \n \n \n 0.15 \n \n \n 4.16 \n \n \n 0.76 \n \n \n   \n \n \n 0.82 \n \n \n \n \n ECL provisions by geography \n \n \n 462 \n \n \n 381 \n \n \n 969 \n \n \n 1,812 \n \n \n \n \n \n 1,504 \n \n \n 90 \n \n \n 19 \n \n \n 1,613 \n \n \n \n \n \n 3,425 \n \n \n \n \n   - UK \n \n \n 462 \n \n \n 381 \n \n \n 969 \n \n \n 1,812 \n \n \n   \n \n \n 1,335 \n \n \n 37 \n \n \n 12 \n \n \n 1,384 \n \n \n   \n \n \n 3,196 \n \n \n \n \n   - Other Europe \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 109 \n \n \n 9 \n \n \n - \n \n \n 118 \n \n \n   \n \n \n 118 \n \n \n \n \n   - RoW \n \n \n - \n \n \n - \n \n \n - \n \n \n - \n \n \n   \n \n \n 60 \n \n \n 44 \n \n \n 7 \n \n \n 111 \n \n \n   \n \n \n 111 \n \n \n \n \n   \n   \n For the notes to this table refer to the following page. \n \n \n Risk and capital management continued \n Credit risk continued \n Sector analysis - portfolio summary continued \n \n \n \n \n \n \n \n Personal \n \n \n \n \n \n Non-Personal \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Credit \n \n \n Other \n \n \n \n \n \n \n \n \n Corporate and   \n \n \n Financial \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Mortgages (1) \n \n \n cards \n \n \n personal \n \n \n Total \n \n \n \n \n \n other \n \n \n institutions \n \n \n Sovereign \n \n \n Total \n \n \n \n \n \n Total \n \n \n \n \n 31 December 2024 \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n £m \n \n \n \n \n \n £m \n \n \n \n \n ECL provisions by stage   \n \n \n 462 \n \n \n 381 \n \n \n 969 \n \n \n 1,812 \n \n \n \n \n \n 1,504 \n \n \n 90 \n \n \n 19 \n \n \n 1,613 \n \n \n \n \n \n 3,425 \n \n \n \n \n   - Stage 1 \n \n \n 77 \n \n \n 77 \n \n \n 130 \n \n \n 284 \n \n \n   \n \n \n 264 \n \n \n 38 \n \n \n 12 \n \n \n 314 \n \n \n   \n \n \n 598 \n \n \n \n \n   - Stage 2 \n \n \n 60 \n \n \n 186 \n \n \n 183 \n \n \n 429 \n \n \n   \n \n \n 344 \n \n \n 12 \n \n \n 2 \n \n \n 358 \n \n \n   \n \n \n 787 \n \n \n \n \n   - Stage 3 \n \n \n 325 \n \n \n 118 \n \n \n 656 \n \n \n 1,099 \n \n \n   \n \n \n 896 \n \n \n 40 \n \n \n 5 \n \n \n 941 \n \n \n   \n \n \n 2,040 \n \n \n \n \n   - Of which: individual \n \n \n 11 \n \n \n - \n \n \n 17 \n \n \n 28 \n \n \n   \n \n \n 382 \n \n \n 36 \n \n \n 5 \n \n \n 423 \n \n \n   \n \n \n 451 \n \n \n \n \n   - Of which: collective \n \n \n 314 \n \n \n 118 \n \n \n 639 \n \n \n 1,071 \n \n \n   \n \n \n 514 \n \n \n 4 \n \n \n - \n \n \n 518 \n \n \n   \n \n \n 1,589 \n \n \n \n \n ECL provisions coverage   (%) \n \n \n 0.22 \n \n \n 5.50 \n \n \n 9.94 \n \n \n 0.80 \n \n \n \n \n \n 1.35 \n \n \n 0.13 \n \n \n 1.16 \n \n \n 0.88 \n \n \n \n \n \n 0.83 \n \n \n \n \n   - Stage 1 (%) \n \n \n 0.04 \n \n \n 1.60 \n \n \n 1.79 \n \n \n 0.14 \n \n \n   \n \n \n 0.28 \n \n \n 0.06 \n \n \n 0.80 \n \n \n 0.19 \n \n \n   \n \n \n...

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