Helping Britain Prosper: annual report and accounts 2018

See how we've been Helping Britain Prosper: annual report and accounts 2018

Group highlights

£6.0bn +13%

Statutory profit before tax increased significantly, further closing the gap between statutory and underlying profit.

£8.1bn +6%

Underlying profit increased, driven by higher income and lower costs.

5.5p +27%

Earnings per share increased in the year, largely due to the significant increase in statutory profit.

>£3bn

Strategic investment spend over the three-year plan period (2018 to 2020), significant increase on prior plan.

3.21p +5%

Ordinary dividend per share including interim and final dividend. The Group intends to implement a share buyback of up to £1.75bn.

11.7% +2.8pp

Group delivering a market leading return on tangible equity.

49.3% (2.5)pp

Cost:income ratio including remediation further improved.

15.7m

Digitally active customers. The Group is the largest digital bank in the UK.

Helping Britain Prosper

Group Chief Executive and Chairman's update

Our strategic priorities

In February 2018 we launched our new three-year strategy to transform the Group for success in a digital world. We identified four strategic priorities focused on the financial needs and behaviours of the customer of the future and are investing more than £3 billion in these strategic initiatives over the plan period.

Customer experience

Leading customer experience

Driving stronger customer relationships through best-in-class propositions, while continuing to provide our customers with brilliant servicing and a seamless experience across all channels.
Digitising the Group

Digitising the Group

Deploying new technology to improve our efficiency and make banking simpler and easier for customers.
Maximising capabilities

Maximising the Group's capabilities

Aligning the Group's capabilities as the sole UK banking and insurance provider to deepen customer relationships and grow in targeted segments.
Ways of working

Transforming ways of working

Enhancing colleague skills and processes, investing in agile working practices and embracing new technology to drive better outcomes for customers.