Various Rating Actions Taken On U.K. Banks On Recovering Economy

We believe that economic risks affecting U.K. banks are receding as the recovery gathers pace and we now project a smoother transition away from fiscal support measures. Following large impairment charges in the first half of 2020, we believe that U.K. bank earnings could benefit from releases of loan-loss provisions over the remainder of this year. We revised our outlooks on four U.K. banks to stable from negative because we believe that their asset quality will remain manageable and their capitalization will continue to be robust. We revised our outlook on Barclays to positive from stable because we think that its stable management and strategy are more effectively realizing the potential of its diversified business model. We revised our outlook

...June 24, 2021 - We believe that economic risks affecting U.K. banks are receding as the recovery gathers pace and we now project a smoother transition away from fiscal support measures. - Following large impairment charges in the first half of 2020, we believe that U.K. bank earnings could benefit from releases of loan-loss provisions over the remainder of this year. - We revised our outlooks on four U.K. banks to stable from negative because we believe that their asset quality will remain manageable and their capitalization will continue to be robust. - We revised our outlook on Barclays to positive from stable because we think that its stable management and strategy are more effectively realizing the potential of its diversified business model. - We revised our outlook on Nationwide to positive from stable to reflect better profitability, supported by an improved net interest margin and resurgent housing market activity. LONDON (S&P Global Ratings) June 24, 2021--S&P Global Ratings said...

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