Lloyds Bank plc Credit Rating
Lloyds Bank plc holds a blended long-term credit rating of AA- — the "High Grade" band, which is investment grade. That figure combines the latest long-term issuer ratings from S&P, Moody's, Fitch onto a single comparable scale, and indicates a strong capacity to meet its financial commitments. Lloyds Bank plc is owned by Lloyds Banking Group (public). A credit rating measures an institution's ability to meet its financial obligations — it is an opinion, not a guarantee, and it is separate from deposit protection.
Lloyds Bank credit ratings by agency
| Agency | Long-term rating | Outlook | Last confirmed |
|---|---|---|---|
| Fitch Ratings | AA | — | 19 Jul 2026 |
| Moody's | A1 | — | 19 Jul 2026 |
| S&P Global Ratings | A+ | — | 19 Jul 2026 |
Rating History Chart
Rating History
| Date | Rating | Agencies |
|---|---|---|
09 Jul 2026 |
S&P, Moody's, Fitch | |
21 Nov 2018 |
S&P, Moody's, Fitch | |
15 Jun 2018 |
S&P, Moody's, Fitch | |
15 Jan 2016 |
Fitch | |
15 Jan 2016 |
Moody's, Fitch | |
15 Jan 2016 |
S&P, Moody's, Fitch |
Service record: complaints, incidents and customer survey
Complaints: in the FCA's 2025 H2 file (July 2025 to December 2025), Lloyds Bank received 87,894 banking and credit-card complaints, 2.37 per 1,000 accounts. The bank upheld 69% of those it closed and closed 55% within three days. The previous period was 2.13 per 1,000, so complaints rose. Compare all banks.
Outages and incidents: Lloyds Bank reported
4 major operational or security incidents to the FCA in the quarter to 30 June 2026 and 21 in the 12 months to 30 June 2026 (mobile app 8, online banking 6, telephone 5)
Customer survey (CMA / Ipsos, August 2026): share of Lloyds Bank's own customers who would recommend it.
| Measure | Market | Would recommend | Rank |
|---|---|---|---|
| Branch services | Great Britain | 65% | 5 of 13 |
| Online and mobile banking | Great Britain | 76% | 5= of 17 |
| Overall service quality | Great Britain | 62% | 7 of 17 |
| Overdraft services | Great Britain | 71% | 4 of 16 |
| Branch and business centre services (business) | Great Britain | 53% | 4= of 12 |
| Online and mobile banking (business) | Great Britain | 73% | 6= of 17 |
| Overall service quality (business) | Great Britain | 60% | 10= of 17 |
| Relationship and account management (business) | Great Britain | 57% | 14 of 17 |
| SME overdraft and loan services (business) | Great Britain | 60% | 5= of 10 |
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
Is Lloyds Bank safe? What the record shows
The agency ratings above are opinions. What follows is the verifiable record behind them: each statement is taken from the source named beneath it, last checked 15 October 2026. It is information, not advice.
Banking licence
Lloyds Bank plc (registered in England and Wales, number 2065, 25 Gresham Street, London) is authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA under registration number 119278; Lloyds and Lloyds Bank are its trading names. It is Lloyds Banking Group's ring-fenced bank, while Lloyds Bank Corporate Markets plc is the separate non-ring-fenced bank.
Source: Lloyds Bank: information about us, 15 Oct 2026Halifax is a division of Bank of Scotland plc (registered in Scotland, SC327000), a separately authorised bank with registration number 169628 that is also owned by Lloyds Banking Group. Since 1 July 2026 the Halifax brand has been changing to Lloyds, but accounts with sort codes starting 11 remain deposits of Bank of Scotland plc, while sort codes starting 30 or 77 are Lloyds Bank plc.
Source: Lloyds Bank: Financial Services Compensation Scheme, 15 Oct 2026Ownership and funding
Lloyds Bank plc is the wholly owned principal operating subsidiary of Lloyds Banking Group plc, listed on the London Stock Exchange (LLOY) with American depositary receipts on the New York Stock Exchange. At 31 December 2025 the only notified substantial shareholders were BlackRock (5.14%) and Norges Bank (3.02%). HM Government took a 43% stake in 2009 after a £20.3 billion intervention and sold its last shares in May 2017.
Source: Lloyds Banking Group plc Form 20-F 2025, substantial shareholders, 31 Dec 2025Size
Lloyds Bank plc reported total assets of £656.4 billion, customer deposits of £467.0 billion and loans and advances to customers of £470.3 billion at 30 June 2026 (31 December 2025: £631.3 billion, £465.2 billion and £461.5 billion). Lloyds Banking Group as a whole had £994.2 billion of assets and about 28 million retail customers.
Source: Lloyds Bank plc 2026 half-year results, 30 Jun 2026Profitability
Lloyds Bank plc made a profit before tax of £5,472 million in 2025, and £3,556 million in the first half of 2026, 29% above the £2,758 million of the first half of 2025. Lloyds Banking Group's statutory profit before tax was £6,661 million in 2025, up 12% from £5,971 million in 2024.
Source: Lloyds Bank plc 2026 half-year results; Lloyds Bank plc Form 20-F 2025, 30 Jun 2026The provision for motor finance commission arrangements stood at £1,950 million at 30 June 2026, including an £800 million charge taken in the third quarter of 2025; no further charge was taken in the first half of 2026. The FCA's redress-scheme rules of 30 March 2026 were partially suspended by the Upper Tribunal on 2 July 2026, and Lloyds does not expect payments before 2027 if the scheme is upheld.
Source: Lloyds Bank plc 2026 half-year results, note 12 provisions, 30 Jun 2026Capital strength
Lloyds Bank plc's Common Equity Tier 1 ratio was 13.6% at 30 June 2026, unchanged from 31 December 2025, with a total capital ratio of 19.8%, a UK leverage ratio of 5.1% and risk-weighted assets of £198.2 billion. Lloyds Banking Group reported a 13.6% CET1 ratio and a 32.0% MREL ratio at the same date.
Source: Lloyds Bank plc 2026 half-year results, capital, 30 Jun 2026Regulatory record since 2020
On 11 June 2020 the FCA fined Lloyds Bank plc, Bank of Scotland plc and The Mortgage Business plc £64,046,800 (£91,495,400 before a 30% discount) for failures in handling mortgage customers in payment difficulty between April 2011 and December 2015; the banks estimated redress of about £300 million to about 526,000 customers.
Source: FCA press release, 11 June 2020, 11 Jun 2020On 8 July 2021 the FCA fined four Lloyds Banking Group insurance subsidiaries (not the bank) £90,688,400 for unclear home-insurance renewal communications between 2009 and 2017. The FCA's published fines tables for 2022 to 2026 (to 15 October 2026) contain no fine against Lloyds Bank plc, Bank of Scotland plc, Halifax or any other group entity, and no PRA fine since 2020 was found.
Source: FCA 2026 fines list, 15 Oct 2026Credit ratings
Lloyds Bank plc is rated A+ (stable) by S&P, a level held since May 2018 and confirmed in S&P's research update of 23 December 2025; A1 (stable) by Moody's, whose credit opinion of 30 September 2026 followed an affirmation; and AA (stable) by Fitch, which upgraded Lloyds Bank plc and Bank of Scotland plc from AA- on 12 May 2026 after revising its bank rating criteria. The parent Lloyds Banking Group plc is rated A-, A3 and A+.
Source: Lloyds Banking Group credit ratings, 30 Sep 2026Deposit protection
Eligible deposits with Lloyds Bank plc (Lloyds accounts with sort codes starting 30 or 77) are protected by the FSCS up to £120,000 per depositor under its own licence, the limit for failures on or after 1 December 2025. Halifax, Bank of Scotland, Bank of Scotland Private Banking and Lloyds-branded accounts with sort codes starting 11 share one separate £120,000 limit under Bank of Scotland plc.
Source: Lloyds Bank: Financial Services Compensation Scheme, 15 Oct 2026Operational incidents
Press reports of Treasury Committee data published on 6 March 2025 gave Lloyds 12 material IT incidents between January 2023 and February 2025, affecting 1.5 million customer payments and 3.8 million log-on attempts, with about £160,000 of compensation paid; a separate payday outage on 28 February 2025 was not in that data.
Source: LBC report of Treasury Committee data, 6 March 2025, 6 Mar 2025Between 03:28 and 08:08 on 12 March 2026 an API defect introduced by an overnight IT change let up to 447,936 Lloyds, Halifax and Bank of Scotland app users see other customers' transaction lists; Lloyds notified the Information Commissioner within 72 hours and paid about £139,000 in goodwill to about 3,625 customers. On 3 June 2026 the group's apps and online banking were unavailable for several hours from about 11:00.
Source: The Register, 27 March 2026, 3 Jun 2026Frequently asked questions about Lloyds Bank plc
Is Lloyds Bank plc safe?
Lloyds Bank plc currently holds a blended long-term credit rating of AA-, which is investment grade and indicates a strong capacity to meet its financial commitments. A credit rating is an independent opinion on an institution's ability to meet its financial obligations; it is not a guarantee and can change. Separately, Eligible deposits with UK-authorised banks and building societies are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per banking licence (the limit rose from £85,000 on 1 December 2025). Where several brands share a single banking licence, that £120,000 limit is shared across those brands rather than applying to each one separately. This page is information about published credit ratings, not financial advice.
What is Lloyds Bank plc's credit rating?
Lloyds Bank plc has a blended long-term credit rating of AA-. This blends the most recent long-term issuer ratings from S&P, Moody's, Fitch, mapped onto a common scale so ratings expressed in different agencies' notation can be compared directly.
Is Lloyds Bank plc covered by the FSCS?
Eligible deposits with UK-authorised banks and building societies are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per banking licence (the limit rose from £85,000 on 1 December 2025). Where several brands share a single banking licence, that £120,000 limit is shared across those brands rather than applying to each one separately. Lloyds Bank plc is recorded with FCA reference 119278. Because protection follows the banking licence rather than the brand, check the current position and which brands share a licence on the FSCS website before relying on it.
Who owns Lloyds Bank plc?
Lloyds Bank plc is owned by Lloyds Banking Group (public). Ownership matters for credit ratings because agencies often factor in the likelihood of support from a parent group, and because brands under the same banking licence share a single FSCS limit.
What does a AA- credit rating mean?
AA- sits in the "High Grade" band, indicating a strong capacity to meet its financial commitments. Ratings of BBB- (or Baa3 on Moody's scale) and above are considered investment grade; anything below that is regarded as speculative, sometimes called "high yield". Ratings are reviewed periodically and can be upgraded or downgraded.
What is Lloyds Bank plc's Fitch rating?
Fitch rates Lloyds Bank plc AA (long-term), as read from the bank's own published disclosures and last confirmed on 19 July 2026. Together with the other agencies' ratings this gives the blended AA- shown on this page.
What is Lloyds Bank plc's Moody's rating?
Moody's rates Lloyds Bank plc A1 (long-term), as read from the bank's own published disclosures and last confirmed on 19 July 2026. Together with the other agencies' ratings this gives the blended AA- shown on this page.
What is Lloyds Bank plc's S&P rating?
S&P rates Lloyds Bank plc A+ (long-term), as read from the bank's own published disclosures and last confirmed on 19 July 2026. Together with the other agencies' ratings this gives the blended AA- shown on this page.
When did Lloyds Bank plc's credit rating last change?
Lloyds Bank plc's blended rating has stood at AA- since 9 July 2026, the most recent change in our records. Ratings are re-checked automatically and this page updates when an agency revises its assessment.
Is Lloyds Bank a real bank?
Lloyds Bank plc (registered in England and Wales, number 2065, 25 Gresham Street, London) is authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA under registration number 119278; Lloyds and Lloyds Bank are its trading names. It is Lloyds Banking Group's ring-fenced bank, while Lloyds Bank Corporate Markets plc is the separate non-ring-fenced bank.
Is Lloyds Bank profitable?
Lloyds Bank plc made a profit before tax of £5,472 million in 2025, and £3,556 million in the first half of 2026, 29% above the £2,758 million of the first half of 2025. Lloyds Banking Group's statutory profit before tax was £6,661 million in 2025, up 12% from £5,971 million in 2024.
Has Lloyds Bank been fined by the FCA?
On 11 June 2020 the FCA fined Lloyds Bank plc, Bank of Scotland plc and The Mortgage Business plc £64,046,800 (£91,495,400 before a 30% discount) for failures in handling mortgage customers in payment difficulty between April 2011 and December 2015; the banks estimated redress of about £300 million to about 526,000 customers. On 8 July 2021 the FCA fined four Lloyds Banking Group insurance subsidiaries (not the bank) £90,688,400 for unclear home-insurance renewal communications between 2009 and 2017. The FCA's published fines tables for 2022 to 2026 (to 15 October 2026) contain no fine against Lloyds Bank plc, Bank of Scotland plc, Halifax or any other group entity, and no PRA fine since 2020 was found.
Who owns Lloyds Bank?
Lloyds Bank plc is the wholly owned principal operating subsidiary of Lloyds Banking Group plc, listed on the London Stock Exchange (LLOY) with American depositary receipts on the New York Stock Exchange. At 31 December 2025 the only notified substantial shareholders were BlackRock (5.14%) and Norges Bank (3.02%). HM Government took a 43% stake in 2009 after a £20.3 billion intervention and sold its last shares in May 2017.