This report does not constitute a rating action. LONDON (S&P Global Ratings) Nov. 4, 2026--Major U.K. banks reported another quarter of resilient performance with solid profitability and stable asset quality, despite continued deposit competition and a potential slowdown in loan growth amid rising interest rates. Barclays PLC , HSBC Holdings PLC , Lloyds Banking Group PLC , NatWest Group PLC , and Santander UK Group Holdings PLC all reported strong returns and reaffirmed their full-year guidance. Net interest margins (NIM) remained resilient. This was supported by sustained growth in structural hedge income and despite continued competition for deposits and customer migration toward higher-yielding term products. Margin performance was generally stable to improving across rated banks, with Barclays, Lloyds, NatWest, and
