Group financial highlights

¹ Adjusted measures are presented on a basis consistent with prior periods and exclude any exceptional and adjusting items which do not reflect underlying trading performance. Current exceptional and adjusting items include; customer remediation provisions, operational or legal costs incurred in relation to an event that is deemed to be adjusting, businesses that are  held for sale, the Vehicle Hire business which is in wind-down, restructuring costs and amortisation of intangible assets on acquisition.

² Adjusted earnings per share, basic earnings per share, NIM, bad debt ratio and group E/I ratio calculations re-presented to exclude rentals businesses in 2024.

³ Return on average tangible equity has been restated for financial year 2024 to exclude discontinued operations. Return on average tangible equity uses adjusted operating profit after tax from continuing operations, less AT1 coupons (2025: £88.7 million, 2024: £113.5 million). Average tangible equity excludes discontinued operations. Average tangible equity is calculated based on closing equity per the balance sheet (2025: £1,735.5 million, 2024: £1,842.5 million), less AT1 (2025 and 2024: £197.6 million), less intangibles (2025: £166.3 million, 2024: £266.0 million), less CBAM and Winterflood tangible equity (2025: £90.6 million, 2024: £155.9 million).

⁴  Includes operating lease assets of £1.3 million (31 July 2024: £1.0 million). Excludes £165.0 million (31 July 2024: £222.4 million) of operating lease assets related to Close Brothers Vehicle Hire, which is in wind-down, and £41.0 million of operating lease assets related to Close Brewery Rentals Limited (31 July 2024: £44.5 million) which has been classified as held for sale on the group's balance sheet as at 31 July 2025.   

⁵ Refer to Note 7 “Earnings per Share” page 196 of the 2025 Annual Report for the calculation of basic and adjusted earnings per share.