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Provisions for liabilities and charges
 6 Months Ended
Jun. 30, 2024
Provision for liabilities and charges  
Provisions for liabilities and charges

11. Provisions for liabilities and charges

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Financial

    

    

    

    

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Customer

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Litigation and

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commitments

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redress

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other regulatory

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Property

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and guarantees

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Other (1)

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Total

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£m

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£m

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£m

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£m

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£m

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£m

At 1 January 2024

 

486

 

156

 

99

 

78

 

171

 

990

Expected credit losses impairment release

 

—

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—

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—

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(22)

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—

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(22)

Currency translation and other movements

 

1

 

1

 

—

 

—

 

(2)

 

—

Charge to income statement

 

39

 

18

 

32

 

—

 

228

 

317

Release to income statement

 

(22)

 

(20)

 

(21)

 

—

 

(16)

 

(79)

Provisions utilised

 

(50)

 

(18)

 

(11)

 

—

 

(85)

 

(164)

At 30 June 2024

 

454

 

137

 

99

 

56

 

296

 

1,042

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(1)Other materially comprises of provisions relating to restructuring costs and Bank of England Levy. The charge for the year includes restructuring costs of £149 million and Bank of England Levy of £79 million.

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Provisions are liabilities of uncertain timing or amount and are recognised when there is a present obligation as a result of a past event, the outflow of economic benefit is probable and the outflow can be estimated reliably. Any difference between the final outcome and the amounts provided will affect the reported results in the period when the matter is resolved.