Halifax Credit Rating
Halifax is not a bank in its own right: it is a trading name of Bank of Scotland plc (FCA firm reference 169628), part of Lloyds Banking Group. Credit rating agencies rate the licence holder, not the brand, so Halifax has no rating of its own. Bank of Scotland plc currently holds a blended long-term credit rating of AA-, which is investment grade; that is the rating shown on this page. Halifax has been a division of Bank of Scotland plc since the HBOS merger of 2001, and Bank of Scotland plc has been part of Lloyds Banking Group since 2009. Halifax has no banking licence or credit rating of its own. A credit rating is an opinion on an institution's ability to meet its obligations, not a guarantee, and it is separate from deposit protection.
Bank of Scotland credit ratings by agency
| Agency | Long-term rating | Outlook | Last confirmed |
|---|---|---|---|
| Fitch Ratings | AA | — | 10 Jul 2026 |
| Moody's | A1 | — | 10 Jul 2026 |
| S&P Global Ratings | A+ | — | 19 Jul 2026 |
Rating History Chart
Rating History
| Date | Rating | Agencies |
|---|---|---|
10 Jul 2026 |
S&P, Moody's, Fitch | |
27 Jan 2026 |
S&P |
Service record: complaints, incidents and customer survey
Complaints: in the FCA's 2025 H2 file (July 2025 to December 2025), Bank of Scotland received 67,071 banking and credit-card complaints, 1.91 per 1,000 accounts. The bank upheld 70% of those it closed and closed 57% within three days. The previous period was 1.83 per 1,000, so complaints rose. Compare all banks.
Outages and incidents: Halifax reported
7 major operational or security incidents to the FCA in the quarter to 30 June 2026 and 22 in the 12 months to 30 June 2026 (mobile app 11, online banking 9, telephone 5)
Customer survey (CMA / Ipsos, August 2026): share of Halifax's own customers who would recommend it.
| Measure | Market | Would recommend | Rank |
|---|---|---|---|
| Branch services | Great Britain | 71% | 2 of 13 |
| Online and mobile banking | Great Britain | 77% | 4 of 17 |
| Overall service quality | Great Britain | 63% | 6 of 17 |
| Overdraft services | Great Britain | 69% | 6 of 16 |
| Branch services | Northern Ireland | 71% | 3 of 9 |
| Online and mobile banking | Northern Ireland | 81% | 5 of 12 |
| Overall service quality | Northern Ireland | 66% | 6= of 12 |
| Overdraft services | Northern Ireland | 71% | 3 of 7 |
Market signals, ownership and group accounts
Short positions: no disclosed net short position in the listed group's shares on the FCA's list (checked 17 October 2026).
Only positions of 0.5% or more per holder are disclosed, so this is a floor. Above 2% to 3% is unusual for a UK bank; it is a view on the listed group's shares, not on deposit safety, which the FSCS covers regardless.| Fiscal year | Profit before tax | Net income | Total assets | Equity | Dividends paid |
|---|---|---|---|---|---|
| Dec 2025 | £6.7bn | £4.7bn | £944.1bn | £47.9bn | £2.0bn |
| Dec 2024 | £6.0bn | £4.4bn | £906.7bn | £45.9bn | £1.8bn |
Latest News
Frequently asked questions about Halifax
Is Halifax safe?
Halifax operates under Bank of Scotland plc's banking licence, and Bank of Scotland plc holds a blended long-term credit rating of AA-, which is investment grade. A rating is an independent opinion on the institution's ability to meet its obligations; it is not a guarantee and can change. Separately, eligible deposits with UK-authorised banks and building societies are protected by the FSCS up to £120,000 per person per banking licence. This page is information about published credit ratings, not financial advice.
What is Halifax's credit rating?
Halifax has no rating of its own. Its licence holder, Bank of Scotland plc, has a blended long-term credit rating of AA- from S&P, Moody's, Fitch; the per-agency figures are shown above.
Which bank is Halifax part of?
Halifax is a trading name of Bank of Scotland plc, FCA firm reference 169628, part of Lloyds Banking Group. Halifax has been a division of Bank of Scotland plc since the HBOS merger of 2001, and Bank of Scotland plc has been part of Lloyds Banking Group since 2009. Halifax has no banking licence or credit rating of its own.
Does Halifax share an FSCS limit with Bank of Scotland?
Yes. Halifax and Bank of Scotland all sit under Bank of Scotland plc's licence, so money held across them counts towards one £120,000 limit per person, not one limit each.
Does Halifax share a licence with Lloyds Bank?
No. Lloyds Bank is separately licensed even though it is in the same group, so deposits there have their own £120,000 limit, separate from Halifax's.