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Latest results – 2021 Half year results

I am incredibly proud of these results. They reflect the hard work of our people during a challenging period as well as the success of our longstanding strategy to build a technology-enabled specialist banking group. We have delivered record half year profits and go into the second half of 2021 with strong momentum, healthy new business pipelines and enhanced margins.

Nigel Terrington
Chief Executive

Key information

Results Statement

08/06/2021 | Results announcement

Available now

Results Presentation

08/06/2021 | Results presentation

Available now

Presentation Video

08/06/2021 | Presentation replay

Available now

Performance summary

for the six months ended 31 March 2021

£1.13 billion

New lending
+45.1% increase
(2020 H2: £776.4 million)

£82.9 million

Underlying profits*
+44.9% increase
(2020 H1: £57.2 million)

232 basis points

Net interest margin
(2020 H1: 229 basis points)

25.2 pence

Underlying EPS*
+43.2% increase
(2020 H1: 17.6 pence)


(2020 H1: 14.4%)

7.2 pence

Interim dividend
(2020 H1: nil**)

*For underlying basis, see Appendix A of Results announcement
**For more information, see April 2020 Covid-19 update here.

Operating highlights


Customer payment holidays returned to low levels and Recovery Loan Scheme available for SME customers.


Incremental technology development programmes underway to enhance customer and intermediary engagement.


First Green Bond issued and progress made in roll-out of sustainable lending products.

Operating model

Pilot exercises in process to explore optimal ways of working for the future.

Financial calendar

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For enquires about the results

Investors and analysts

Paragon – Nicola Foster and Kathryn Rhinds

0345 849 4003


Headland – Lucy Legh and Del Jones

020 3805 4822