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Latest results – 2023 Half year results

This is a strong financial and operating performance, positioning us well to support our customers, grow the business further and deliver good returns for our shareholders.

Nigel Terrington
Chief Executive


Key information

Results Statement

Tuesday, 06/06/2023

Results statement

Results Presentation

Tuesday, 06/06/2023

Results presentation

Presentation Replay

Tuesday, 06/06/2023

Presentation replay

Performance summary

For the six months ended 31 March 2023

£128.9 million

Underlying operating profit*
+22.2% increase
(H1 22: £105.5 million)

£14.6 billion

Net loan book
+4.6% increase
(H1 22: £13.9 billion)

295 basis points

Net interest margin
(H1 22: 257 basis points)

£1.59 billion

New lending
+6.9% increase
(H1 22: £1.49 billion)

£11.9 billion

Savings deposits
+20.5% increase
(H1 22: £9.9 billion)

11.0 pence

Interim dividend per share
+17.0% increase
(H1 22: 9.4 pence)

*For underlying basis, see Appendix A of half year results announcement

Progress on strategic priorities

progress-on-strategic-priorities-1

Growth

16%+ CAGR in new lending since 2015

progress-on-strategic-priorities-2

Diversification

New Commercial Lending reaches 36% of first half volumes

progress-on-strategic-priorities-3

Digitalisation

Digital transformation driving customer benefits and greater efficiency gains

progress-on-strategic-priorities-4

Capital management

Strong capital base, with CET1 at 15.6%, providing capacity to support growth

progress-on-strategic-priorities-5

Sustainability

Sustainable products now offered across each of our business lines

News and reports

Raising the standards of privately rented property

Raising the standards of privately rented property

SED Services recycles waste into profit

SED Services recycles waste into profit

2022 Responsible Business Report

2022 Responsible Business Report

Financial calendar

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06
December
2023

Full year results

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26
January
2024

Q1 Trading update

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For enquiries about the results

Investors and analysts

Paragon – Nicola Foster and Kathryn Rhinds

0345 849 4003

Media

Headland – Lucy Legh and Charlie Twigg

020 3805 4822