v3.25.4

Measurement basis of financial assets and liabilities (Tables) | 12 Months Ended
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Dec. 31, 2025
Disclosure of detailed information about financial instruments [abstract] |
Schedule of Financial Assets and Liabilities | The following table analyses the carrying amounts of the financial assets and liabilities by category and by balance sheet heading.
| Derivatives designated as hedging instruments £m |  | Mandatorily held at fair value through profit or loss |  | Designated at fair value through profit or loss £m | At fair value through other comprehensive income £m |  | Held at amortised cost £m | Insurance- related contracts £m |  |
At 31 December 2025 |  | Held for trading £m |  | Other £m |  |  |  | Total £m
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and balances at central banks | – |  | – |  | – |  | – |  | – |  | 56,661 |  | – |  | 56,661
Financial assets at fair value through profit or loss | – |  | 25,537 |  | 214,876 |  | – |  | – |  | – |  | – |  | 240,413
Derivative financial instruments | 25 |  | 19,702 |  | – |  | – |  | – |  | – |  | – |  | 19,727
Loans and advances to banks | – |  | – |  | – |  | – |  | – |  | 7,236 |  | – |  | 7,236
Loans and advances to customers | – |  | – |  | – |  | – |  | – |  | 481,463 |  | – |  | 481,463
Reverse repurchase agreements | – |  | – |  | – |  | – |  | – |  | 50,986 |  | – |  | 50,986
Debt securities | – |  | – |  | – |  | – |  | – |  | 13,987 |  | – |  | 13,987
Financial assets at amortised cost | – |  | – |  | – |  | – |  | – |  | 553,672 |  | – |  | 553,672
Financial assets at fair value through other comprehensive income | – |  | – |  | – |  | – |  | 36,320 |  | – |  | – |  | 36,320
Other | – |  | – |  | – |  | – |  | – |  | – |  | 514 |  | 514
Total financial assets | 25 |  | 45,239 |  | 214,876 |  | – |  | 36,320 |  | 610,333 |  | 514 |  | 907,307
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits from banks | – |  | – |  | – |  | – |  | – |  | 5,779 |  | – |  | 5,779
Customer deposits | – |  | – |  | – |  | – |  | – |  | 496,457 |  | – |  | 496,457
Repurchase agreements at amortised cost | – |  | – |  | – |  | – |  | – |  | 38,570 |  | – |  | 38,570
Financial liabilities at fair value through profit or loss | – |  | 23,666 |  | – |  | 4,243 |  | – |  | – |  | – |  | 27,909
Derivative financial instruments | 290 |  | 15,842 |  | – |  | – |  | – |  | – |  | – |  | 16,132
Notes in circulation | – |  | – |  | – |  | – |  | – |  | 2,118 |  | – |  | 2,118
Debt securities in issue at amortised cost | – |  | – |  | – |  | – |  | – |  | 78,271 |  | – |  | 78,271
Liabilities arising from insurance and participating investment contracts | – |  | – |  | – |  | – |  | – |  | – |  | 135,284 |  | 135,284
Liabilities arising from non-participating investment contracts | – |  | – |  | – |  | 61,640 |  | – |  | – |  | – |  | 61,640
Other | – |  | – |  | – |  | – |  | – |  | 1,026 |  | – |  | 1,026
Subordinated liabilities | – |  | – |  | – |  | – |  | – |  | 9,894 |  | – |  | 9,894
Total financial liabilities | 290 |  | 39,508 |  | – |  | 65,883 |  | – |  | 632,115 |  | 135,284 |  | 873,080
| Derivatives designated as hedging instruments £m |  | Mandatorily held at fair value through profit or loss |  | Designated at fair value through profit or loss £m | At fair value through other comprehensive income £m |  | Held at amortised cost £m | Insurance- related contracts £m |  |
At 31 December 2024 |  | Held for trading £m |  | Other £m |  |  |  | Total £m
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and balances at central banks | – |  | – |  | – |  | – |  | – |  | 62,705 |  | – |  | 62,705
Financial assets at fair value through profit or loss | – |  | 25,450 |  | 190,475 |  | – |  | – |  | – |  | – |  | 215,925
Derivative financial instruments | 48 |  | 24,017 |  | – |  | – |  | – |  | – |  | – |  | 24,065
Loans and advances to banks | – |  | – |  | – |  | – |  | – |  | 7,900 |  | – |  | 7,900
Loans and advances to customers | – |  | – |  | – |  | – |  | – |  | 459,857 |  | – |  | 459,857
Reverse repurchase agreements | – |  | – |  | – |  | – |  | – |  | 49,476 |  | – |  | 49,476
Debt securities | – |  | – |  | – |  | – |  | – |  | 14,544 |  | – |  | 14,544
Financial assets at amortised cost | – |  | – |  | – |  | – |  | – |  | 531,777 |  | – |  | 531,777
Financial assets at fair value through other comprehensive income | – |  | – |  | – |  | – |  | 30,690 |  | – |  | – |  | 30,690
Other | – |  | – |  | – |  | – |  | – |  | 173 |  | 5,481 |  | 5,654
Total financial assets | 48 |  | 49,467 |  | 190,475 |  | – |  | 30,690 |  | 594,655 |  | 5,481 |  | 870,816
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits from banks | – |  | – |  | – |  | – |  | – |  | 6,158 |  | – |  | 6,158
Customer deposits | – |  | – |  | – |  | – |  | – |  | 482,745 |  | – |  | 482,745
Repurchase agreements at amortised cost | – |  | – |  | – |  | – |  | – |  | 37,760 |  | – |  | 37,760
Financial liabilities at fair value through profit or loss | – |  | 22,981 |  | – |  | 4,630 |  | – |  | – |  | – |  | 27,611
Derivative financial instruments | 355 |  | 21,321 |  | – |  | – |  | – |  | – |  | – |  | 21,676
Notes in circulation | – |  | – |  | – |  | – |  | – |  | 2,121 |  | – |  | 2,121
Debt securities in issue at amortised cost | – |  | – |  | – |  | – |  | – |  | 70,834 |  | – |  | 70,834
Liabilities arising from insurance and participating investment contracts | – |  | – |  | – |  | – |  | – |  | – |  | 122,064 |  | 122,064
Liabilities arising from non-participating investment contracts | – |  | – |  | – |  | 51,228 |  | – |  | – |  | – |  | 51,228
Other | – |  | – |  | – |  | – |  | – |  | 1,708 |  | 5,278 |  | 6,986
Subordinated liabilities | – |  | – |  | – |  | – |  | – |  | 10,089 |  | – |  | 10,089
Total financial liabilities | 355 |  | 44,302 |  | – |  | 55,858 |  | – |  | 611,415 |  | 127,342 |  | 839,272
Schedule of Offsetting of Financial Assets and Liabilities | Offsetting of financial assets and liabilities
|  |  |  |  |  |  | Related amounts where set off in the balance sheet not permitted 1 |  | Potential net amounts if offset of related amounts permitted £m
At 31 December 2025 | Gross amounts of assets and liabilities £m |  | Amount offset in the balance sheet 2 £m |  | Net amounts presented in the balance sheet £m |  | Cash collateral (received)/ pledged £m |  | Non-cash collateral (received)/ pledged £m |  | Master netting and similar agreements £m |
Derivative assets | 52,332 |  | (32,605) |  | 19,727 |  | (2,815) |  | (2,962) |  | (8,339) |  | 5,611
Derivative liabilities | (50,775) |  | 34,643 |  | (16,132) |  | 3,006 |  | 882 |  | 8,339 |  | (3,905)
Net position | 1,557 |  | 2,038 |  | 3,595 |  | 191 |  | (2,080) |  | – |  | 1,706
Reverse repurchase agreements held at fair value | 42,475 |  | (21,494) |  | 20,981 |  | (32) |  | (20,832) |  | – |  | 117
Repurchase agreements held at fair value | (43,304) |  | 21,594 |  | (21,710) |  | (14) |  | 21,621 |  | – |  | (103)
Net position | (829) |  | 100 |  | (729) |  | (46) |  | 789 |  | – |  | 14
Reverse repurchase agreements held at amortised cost | 63,862 |  | (12,876) |  | 50,986 |  | 75 |  | (50,843) |  | – |  | 218
Repurchase agreements held at amortised cost | (51,345) |  | 12,775 |  | (38,570) |  | 2 |  | 38,424 |  | – |  | (144)
Net position | 12,517 |  | (101) |  | 12,416 |  | 77 |  | (12,419) |  | – |  | 74
1 The Group enters into derivatives and repurchase and reverse repurchase agreements with various counterparties which are governed by industry standard master netting agreements. The Group holds and provides cash and securities collateral in respect of derivative transactions covered by these agreements. The right to set off balances under these master netting agreements or to set off cash and securities collateral only arises in the event of non-payment or default and, as a result, these arrangements do not qualify for offsetting under IAS 32. 2 The amounts offset in the balance sheet as shown above meet the criteria for offsetting under IAS 32. Offsetting of financial assets and liabilities
|  | Amount offset in the balance sheet 2 £m |  |  |  | Related amounts where set off in the balance sheet not permitted 1 | Potential net amounts if offset of related amounts permitted £m
At 31 December 2024 | Gross amounts of assets and liabilities £m | Net amounts presented in the balance sheet £m |  | Cash collateral (received)/ pledged £m |  | Non-cash collateral (received)/ pledged £m | Master netting and similar agreements £m
Derivative assets | 60,118 |  | (36,053) |  | 24,065 |  | (4,071) |  | (4,139) |  | (10,522) |  | 5,333
Derivative liabilities | (60,150) |  | 38,474 |  | (21,676) |  | 3,853 |  | 1,514 |  | 10,522 |  | (5,787)
Net position | (32) |  | 2,421 |  | 2,389 |  | (218) |  | (2,625) |  | – |  | (454)
Reverse repurchase agreements held at fair value | 35,463 |  | (14,997) |  | 20,466 |  | 362 |  | (20,389) |  | – |  | 439
Repurchase agreements held at fair value | (35,561) |  | 14,997 |  | (20,564) |  | 31 |  | 19,991 |  | – |  | (542)
Net position | (98) |  | – |  | (98) |  | 393 |  | (398) |  | – |  | (103)
Reverse repurchase agreements held at amortised cost | 60,282 |  | (10,806) |  | 49,476 |  | 257 |  | (49,341) |  | – |  | 392
Repurchase agreements held at amortised cost | (48,566) |  | 10,806 |  | (37,760) |  | 8 |  | 37,427 |  | – |  | (325)
Net position | 11,716 |  | – |  | 11,716 |  | 265 |  | (11,914) |  | – |  | 67
1 The Group enters into derivatives and repurchase and reverse repurchase agreements with various counterparties which are governed by industry standard master netting agreements. The Group holds and provides cash and securities collateral in respect of derivative transactions covered by these agreements. The right to set off balances under these master netting agreements or to set off cash and securities collateral only arises in the event of non-payment or default and, as a result, these arrangements do not qualify for offsetting under IAS 32. 2 The amounts offset in the balance sheet as shown above meet the criteria for offsetting under IAS 32.

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