Helping Britain Recover: annual report and accounts 2020
During an extraordinarily challenging time we are Helping Britain Recover, as part of our Group purpose of Helping Britain Prosper.
Supporting our stakeholders during the COVID-19 crisis
The public health crisis caused by coronavirus has affected all of us and the society in which we live. Our priority is to help the UK recover in an effective, inclusive and sustainable way.
We’re giving our customers the flexibility they need to manage their finances, while helping protect them from fraud. We’re working with the Government to provide loans and working capital support for the businesses of Britain, at the same time as providing the sector-by-sector expertise needed to help them adapt for success.
We’re keeping our colleagues as safe as we can while they provide essential services to people across the UK. And we’re working with the Government to get practical help to those who need it most, in communities across all the regions of the UK.
For over 320 years, with our unique family of brands, we have supported Britain through the good times and the bad and this time is no different. In 2021, we will continue to do all we can to Help Britain Recover, as this is in the best interests of all our stakeholders.
Continued strategic progress with financial performance impacted by the coronavirus pandemic, deterioration of the economic outlook and lower interest rates.
statutory profit after taxStatutory profit after tax reduced significantly, largely due to increased impairments given the deterioration in the economic outlook.
ordinary dividend per shareGiven the Group’s strong capital position, dividends have resumed at the maximum allowed.
Given the Group’s strong capital position, dividends have resumed at the maximum allowed.
cost:income ratioCost:income ratio deteriorated due to lower income.
"The Group has been playing a leading role in the immediate national response, supporting customers, colleagues and our communities through the crisis and beyond."
See page 4 of the annual report for the full statement
Group Chief Executive's review
"Coronavirus has had a profound impact on our lives and the economy but the Group has delivered a resilient performance with continued strategic progress."
See page 8 of the annual report for the full review
Our next chapter
Strategic Review 2021: Building the UK's preferred financial partner
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