Diluted HEPS increased by 1.6% y-y to 71.1pps (FY25: 70.0pps).
Operating income increased by 4.5% y-y to £2 251m, with NII growth of -1.6% y-y and NIR growth of 14.9% y-y.
Revenue growth was supported by ongoing client acquisition, client activity, growth in average lending portfolios, and continued net inflows in discretionary and annuity funds under management.
NII reduced due to the endowment effect of lower interest rates, while the NIR growth reflects a strong increase in fee income and higher annuity fees from the SA Wealth & Investment business.
ECL impairment charge increased by 4.1% y-y, while ECL impairment charge-to-operating income remained stable at 5.5%.
Operating costs increased by 4.7% y-y, while operating cost-to-income increased slightly from 53.4% to 53.5%.
OPM down by 10bps to 40.9%.
Dividend of 38.5pps (FY25: 36.5pps).
Credit loss ratio decreased from 0.38% to 0.36%.
Net interest margin decreased from 2.64% to 2.50%.
Return on shareholder equity of 13.6% (FY25: 13.9%).
