$STNDF

Santander UK plc

CIK:0001087711|SEC Filings

Consolidated Income Statement - GBP (£) £ in Millions	12 Months Ended
Consolidated Income Statement - GBP (£) £ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit (loss) [abstract]
Interest and similar income	£ 11,541	£ 12,439	£ 11,617
Interest expense and similar charges	(7,161)	(8,127)	(6,959)
Net interest income	4,380	4,312	4,658
Fee and commission income	752	733	804
Fee and commission expense	(419)	(481)	(501)
Net fee and commission income	333	252	303
Other operating income	16	93	135
Total operating income	4,729	4,657	5,096
Operating expenses before credit impairment charges, provisions and charges	(2,457)	(2,548)	(2,456)
Credit impairment charges	(193)	(71)	(205)
Provisions for other liabilities and charges	(597)	(689)	(335)
Total credit impairment charges, provisions and charges	(790)	(760)	(540)
Profit before tax	1,482	1,349	2,100
Tax on profit	(396)	(378)	(559)
Profit after tax	£ 1,086	£ 971	£ 1,541

Consolidated Cash Flow Statement - GBP (£) £ in Millions	12 Months Ended
Consolidated Cash Flow Statement - GBP (£) £ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Profit before tax	£ 1,482	£ 1,349	£ 2,100
Non-cash items included in profit
– Depreciation and amortisation	322	300	290
– Loss from disposal of mortgage portfolio	0	31	0
– Provisions for other liabilities and charges	597	689	335
– Impairment losses	207	94	195
– Other non-cash items	(4)	65	(749)
– Pension charge for defined benefit pension schemes	8	13	13
Total adjustments to reconcile profit (loss)	1,130	1,192	84
Net change in operating assets and liabilities:
– Cash and balances at central banks	140	731	(88)
– Derivative assets	334	228	975
– Other financial assets at fair value through profit or loss	72	130	40
– Loans and advances to banks and customers	(3,403)	8,065	12,112
– Reverse repurchase agreements - non-trading	(7,340)	2,130	(5,120)
– Other assets	(70)	118	(141)
– Deposits by banks and customers	(1,130)	(16,059)	(13,504)
– Repurchase agreements - non-trading	412	206	429
– Derivative liabilities	(15)	(116)	(133)
– Other financial liabilities at fair value through profit or loss	241	179	102
– Debt securities in issue	38	212	962
– Other liabilities	(299)	(1,403)	(67)
Net change in operating assets and liabilities	(11,020)	(5,579)	(4,433)
Corporation taxes paid	(46)	(240)	(537)
Effects of exchange rate differences	(344)	(53)	(518)
Net cash flows from operating activities	(8,798)	(3,331)	(3,304)
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets	(407)	(528)	(385)
Proceeds from sale of property, plant and equipment and intangible assets	161	148	175
Purchase of financial assets at amortised cost and financial assets at FVOCI	(1,981)	(10,343)	(10,899)
Proceeds from sale and redemption of financial assets at amortised cost and financial assets at FVOCI	5,184	6,183	8,362
Net cash flows from investing activities	2,957	(4,540)	(2,747)
Cash flows from financing activities
Issue of other equity instruments	500	400	0
Issue of debt securities and subordinated notes	9,833	8,425	5,276
Issuance costs of debt securities and subordinated notes	(24)	(28)	(18)
Repayment of debt securities and subordinated notes	(4,219)	(6,539)	(3,539)
Repurchase of other equity instruments	(500)	(500)	0
Dividends paid on ordinary shares	(26)	(1,311)	(1,530)
Dividends paid on preference shares and other equity instruments	(132)	(129)	(123)
Principal elements of lease payments	(22)	(33)	(47)
Net cash flows from financing activities	5,410	285	19
Change in cash and cash equivalents	(431)	(7,586)	(6,032)
Cash and cash equivalents at beginning of the year	29,181	36,781	42,871
Effects of exchange rate changes on cash and cash equivalents	(12)	(14)	(58)
Cash and cash equivalents at the end of the year	28,738	29,181	36,781
Cash and cash equivalents consist of:
Cash and balances at central banks	29,376	29,881	38,214
Less: restricted balances	(1,440)	(1,580)	(2,311)
Cash and bank balances at central banks less regulatory minimum cash balances	27,936	28,301	35,903
Other cash equivalents: Loans and advances to banks - non-trading	802	880	878
Cash and cash equivalents at the end of the year	£ 28,738	£ 29,181	£ 36,781

Consolidated Balance Sheet - GBP (£) £ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and balances at central banks	£ 29,376	£ 29,881
Derivative financial instruments	870	1,204
Other financial assets at fair value through profit or loss	64	136
Loans and advances to banks	1,048	1,032
Loans and advances to customers	202,609	199,408
Reverse repurchase agreements - non-trading	17,678	10,338
Other financial assets at amortised cost	3,987	3,408
Macro hedge of interest rate risk	(80)	(738)
Financial assets at fair value through other comprehensive income	5,216	9,040
Interests in other entities	293	289
Intangible assets	1,511	1,539
Property, plant and equipment	1,511	1,563
Current tax assets	355	506
Retirement benefit assets	524	439
Other assets	1,857	1,887
Assets held for sale	18	12
Total assets	266,837	259,944
Liabilities
Deposits by banks	6,628	13,993
Deposits by customers	187,300	180,967
Repurchase agreements - non-trading	9,029	8,617
Derivative financial instruments	687	702
Other financial liabilities at fair value through profit or loss	1,250	1,055
Debt securities in issue	41,388	35,673
Macro hedge of interest rate risk	60	47
Other liabilities	2,173	1,852
Provisions	683	611
Deferred tax liabilities	437	246
Retirement benefit obligations	22	23
Subordinated liabilities	2,032	2,385
Total liabilities	251,689	246,171
Equity
Share capital	3,105	3,105
Share premium	1,119	5,620
Other equity instruments	1,860	1,860
Other reserves	186	(333)
Retained earnings	8,878	3,521
Total equity	15,148	13,773
Total liabilities and equity	£ 266,837	£ 259,944