MBNA Credit Rating
MBNA is not a bank in its own right: it is a trading name of Lloyds Bank plc (FCA firm reference 119278), part of Lloyds Banking Group. Credit rating agencies rate the licence holder, not the brand, so MBNA has no rating of its own. Lloyds Bank plc currently holds a blended long-term credit rating of AA-, which is investment grade; that is the rating shown on this page. MBNA savings and loans are provided by Lloyds Bank plc (MBNA is a trading style of Lloyds Bank), so MBNA savings share Lloyds Bank's limit. MBNA credit cards are issued by a separate company, MBNA Limited, which takes no deposits; Lloyds Banking Group bought MBNA from Bank of America on 1 June 2017. 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.
Lloyds Bank plc
FCA: 119278
24 October 2026
1765
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 |
|---|---|---|
19 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 |
S&P, Moody's, Fitch |
Service record: complaints, incidents and customer survey
Complaints: in the FCA's 2026 H1 file (January 2026 to June 2026), Lloyds Bank received 115,687 banking and credit-card complaints, 3.16 per 1,000 accounts. The bank upheld 66% of those it closed and closed 56% within three days. The previous period was 2.37 per 1,000, so complaints rose. Compare all banks.
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 24 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 MBNA safe? What the record shows
MBNA is a trading name of Lloyds Bank plc, so the record that matters is that bank's. Each statement below 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 MBNA
Is MBNA safe?
MBNA operates under Lloyds Bank plc's banking licence, and Lloyds Bank 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 MBNA's credit rating?
MBNA has no rating of its own. Its licence holder, Lloyds Bank 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 MBNA part of?
MBNA is a trading name of Lloyds Bank plc, FCA firm reference 119278, part of Lloyds Banking Group. MBNA savings and loans are provided by Lloyds Bank plc (MBNA is a trading style of Lloyds Bank), so MBNA savings share Lloyds Bank's limit. MBNA credit cards are issued by a separate company, MBNA Limited, which takes no deposits; Lloyds Banking Group bought MBNA from Bank of America on 1 June 2017.
Does MBNA share an FSCS limit with Lloyds Bank?
Yes. MBNA and Lloyds Bank all sit under Lloyds Bank plc's licence, so money held across them counts towards one £120,000 limit per person, not one limit each.
Does MBNA share a licence with Halifax or Bank of Scotland?
No. Halifax and Bank of Scotland are separately licensed even though they are in the same group, so deposits there have their own £120,000 limit, separate from MBNA's.
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.