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Fair values of financial assets and liabilities - Schedule of Financial Assets Excluding Derivatives (Details) - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
[1]
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks £ 10,764 £ 10,632 [1] £ 7,001
Loans and advances to customers 449,745 454,899 [1] 448,567
Reverse repurchase agreements 38,771 44,865 [1] 54,753
Debt securities:      
Total debt instruments held 15,355 9,926 [1] 6,835
Total trading assets 21,638 14,216  
Contracts held with reinsurers 442 372  
Total other financial assets mandatorily held at fair value through profit or loss 181,680 166,553  
Total financial assets at fair value through profit or loss 203,318 180,769 [1] 206,971
Total financial assets at fair value through other comprehensive income 27,592 23,154 [1] £ 28,137
Collective investment vehicles and limited partnerships      
Debt securities:      
Carrying amount 76,426 68,913  
Insurance and participating investment contracts      
Debt securities:      
Total financial assets at fair value through profit or loss 176,475 161,778  
Financial assets at fair value through profit or loss, classified as held for trading, category      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to customers 23 1  
Reverse repurchase agreements 17,413 11,781  
Debt securities:      
Government securities 3,596 2,185  
Asset-backed securities 77 21  
Corporate and other debt securities 529 228  
Total debt instruments held 4,202 2,434  
Other financial assets mandatorily held at fair value through profit or loss      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 3,127 3,329  
Loans and advances to customers 9,882 9,761  
Debt securities:      
Government securities 8,009 7,872  
Other public sector securities 2,310 2,516  
Bank and building society certificates of deposit 7,504 7,133  
Asset-backed securities 513 399  
Corporate and other debt securities 20,125 17,693  
Total debt instruments held 38,461 35,613  
Treasury and other bills 51 62  
Equity shares 118,735 106,882  
Contracts held with reinsurers 11,424 10,906  
Financial assets at fair value through other comprehensive income      
Debt securities:      
Government securities 14,141 11,211  
Asset-backed securities 173 146  
Corporate and other debt securities 13,046 11,514  
Total debt instruments held 27,360 22,871  
Equity shares 232 283  
Total financial assets at fair value through other comprehensive income 27,592 23,154  
Total financial assets (excluding derivatives) at fair value      
Debt securities:      
Total financial assets (excluding derivatives) at fair value 230,910 203,923  
Level 1 £m      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 0 0  
Loans and advances to customers 0 0  
Reverse repurchase agreements 0 0  
Debt securities:      
Total debt instruments held 0 167  
Total trading assets 3,596    
Total other financial assets mandatorily held at fair value through profit or loss 125,260 113,267  
Total financial assets at fair value through profit or loss 128,856 115,452  
Level 1 £m | Financial assets at fair value through profit or loss      
Debt securities:      
Total trading assets   2,185  
Level 1 £m | Financial assets at fair value through profit or loss, classified as held for trading, category      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to customers 0 0  
Reverse repurchase agreements 0 0  
Debt securities:      
Government securities 3,596 2,185  
Asset-backed securities 0 0  
Corporate and other debt securities 0 0  
Total debt instruments held 3,596 2,185  
Level 1 £m | Other financial assets mandatorily held at fair value through profit or loss      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 0 0  
Loans and advances to customers 0 0  
Debt securities:      
Government securities 8,005 7,865  
Other public sector securities 10 0  
Bank and building society certificates of deposit 0 0  
Asset-backed securities 0 0  
Corporate and other debt securities 0 77  
Total debt instruments held 8,015 7,942  
Treasury and other bills 51 62  
Equity shares 117,194 105,263  
Contracts held with reinsurers 0 0  
Level 1 £m | Financial assets at fair value through other comprehensive income      
Debt securities:      
Government securities 14,093 10,854  
Asset-backed securities 0 0  
Corporate and other debt securities 956 536  
Total debt instruments held 15,049 11,390  
Equity shares 0 0  
Total financial assets at fair value through other comprehensive income 15,049 11,390  
Level 1 £m | Total financial assets (excluding derivatives) at fair value      
Debt securities:      
Total financial assets (excluding derivatives) at fair value 143,905 126,842  
Level 2 £m      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 0 0  
Loans and advances to customers 0 0  
Reverse repurchase agreements 38,771 44,865  
Debt securities:      
Total debt instruments held 10,939 9,647  
Total trading assets 18,042    
Total other financial assets mandatorily held at fair value through profit or loss 44,739 41,982  
Total financial assets at fair value through profit or loss 62,781 54,013  
Level 2 £m | Financial assets at fair value through profit or loss      
Debt securities:      
Total trading assets   12,031  
Level 2 £m | Financial assets at fair value through profit or loss, classified as held for trading, category      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to customers 23 1  
Reverse repurchase agreements 17,413 11,781  
Debt securities:      
Government securities 0 0  
Asset-backed securities 77 21  
Corporate and other debt securities 529 228  
Total debt instruments held 606 249  
Level 2 £m | Other financial assets mandatorily held at fair value through profit or loss      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 3,127 3,329  
Loans and advances to customers 1,992 1,878  
Debt securities:      
Government securities 4 7  
Other public sector securities 2,300 2,516  
Bank and building society certificates of deposit 7,504 7,133  
Asset-backed securities 327 336  
Corporate and other debt securities 18,061 15,877  
Total debt instruments held 28,196 25,869  
Treasury and other bills 0 0  
Equity shares 0 0  
Contracts held with reinsurers 11,424 10,906  
Level 2 £m | Financial assets at fair value through other comprehensive income      
Debt securities:      
Government securities 48 357  
Asset-backed securities 121 87  
Corporate and other debt securities 12,090 10,978  
Total debt instruments held 12,259 11,422  
Equity shares 0 0  
Total financial assets at fair value through other comprehensive income 12,259 11,422  
Level 2 £m | Total financial assets (excluding derivatives) at fair value      
Debt securities:      
Total financial assets (excluding derivatives) at fair value 75,040 65,435  
Level 3 £m      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 10,764 10,632  
Loans and advances to customers 439,449 450,071  
Reverse repurchase agreements 0 0  
Debt securities:      
Total debt instruments held 4,200 116  
Total trading assets 0    
Total other financial assets mandatorily held at fair value through profit or loss 11,681 11,304  
Total financial assets at fair value through profit or loss 11,681 11,304  
Level 3 £m | Financial assets at fair value through profit or loss      
Debt securities:      
Total trading assets   0  
Level 3 £m | Financial assets at fair value through profit or loss, classified as held for trading, category      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to customers 0 0  
Reverse repurchase agreements 0 0  
Debt securities:      
Government securities 0 0  
Asset-backed securities 0 0  
Corporate and other debt securities 0 0  
Total debt instruments held 0 0  
Level 3 £m | Other financial assets mandatorily held at fair value through profit or loss      
FINANCIAL INSTRUMENTS (Details) - Schedule of Financial Assets Excluding Derivatives [Line Items]      
Loans and advances to banks 0 0  
Loans and advances to customers 7,890 7,883  
Debt securities:      
Government securities 0 0  
Other public sector securities 0 0  
Bank and building society certificates of deposit 0 0  
Asset-backed securities 186 63  
Corporate and other debt securities 2,064 1,739  
Total debt instruments held 2,250 1,802  
Treasury and other bills 0 0  
Equity shares 1,541 1,619  
Contracts held with reinsurers 0 0  
Level 3 £m | Financial assets at fair value through other comprehensive income      
Debt securities:      
Government securities 0 0  
Asset-backed securities 52 59  
Corporate and other debt securities 0 0  
Total debt instruments held 52 59  
Equity shares 232 283  
Total financial assets at fair value through other comprehensive income 284 342  
Level 3 £m | Total financial assets (excluding derivatives) at fair value      
Debt securities:      
Total financial assets (excluding derivatives) at fair value £ 11,965 £ 11,646  
[1]
1    Restated for presentational changes and for the adoption of IFRS 17; see notes 1 and 54.