Bank of Scotland plc, currently owned by Lloyds Banking Group, said its profit before tax for the first half of 2026 rose 66% to £1.127 billion “reflecting higher total income and lower operating expenses, partly offset by a higher impairment charge.”

Bank of Scotland said total income for the first half of 2026 was £3.158 billion, an increase of 20% on the first half of 2025.

Net interest income was £2.810 billion, compared to £2.281 billion for the same period in 2025, “driven by higher average interest-earning assets and a higher margin.”

Other income of £348 million was £5 million lower than the first half of 2025 “reflecting higher net fee and commission income and the gain on the securitisation of primarily legacy mortgages, offset by lower net trading income.”

On its balance sheet, Bank of Scotland reported total assets of £354.511 billion, up £14.922 billion.

Financial assets at amortised cost were £15.466 billion higher at £345.506 billion. An increase in loans and advances to customers of £1.504 billion to £314.359 billion was primarily due to growth in UK mortgages, net of the impact of a securitisation of primarily legacy mortgages.

Balances due from fellow Lloyds Banking Group undertakings increased by £14.327 billion, “largely reflecting the equitable assignment of mortgage assets to Lloyds Bank plc in support of its covered bonds programme.”

Total liabilities of £337.669 billion increased by £14.413 billion.

Bank of Scotland said customer deposits decreased by £2.969 billion in the period to £164.617 billion, “primarily due to disciplined pricing decisions throughout the tax year-end.”