In a statement sent to the London Stock Exchange, the bank said that its annual profit before tax amounted to 6,928 million pounds sterling (7,870 million euros), an increase of 0.37% over the previous year, while the total income amounted to 5,808 million pounds (6,597 million euros). . less than 84%.
The bank said it held 1,522 million pounds (1,728 million euros) in loan provisions, as it warned of an uncertain outlook and a possible increase in the number of customers defaulting on their loans this year.
Total assets as of December 31, 2022 were £877,829m (€997,213m), down 1% compared to the same period in the previous year.
Customer deposits amounted to 475.331 million pounds (539.976 million euros) by the end of last year, while granted loans increased by 1% to reach 454.900 million pounds (516.766 million euros).
The cost / income ratio reached 50.4% in 2022, compared to 61% in the previous year, while the loan / deposit ratio reached 96%, compared to 94% in the previous period.
The CET1 ratio was 15.1% on December 31, 2022, compared to 17.3% in the previous year.
“While the operating environment has changed dramatically over the past year, the group delivered a strong financial performance,” said Charlie Noone, Chief Executive Officer (CEO) of Bank of the United Kingdom.
“We know the current environment is challenging for many people and we have mobilized the organization to continue to support our clients,” said Nunn, emphasizing the Bank’s commitment to helping the UK thrive and recover from the current economic uncertainty.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
