Shawbrook Group (SHAW) Q1 2026 TU earnings summary

Executive summary

• Achieved strong Q1 2026 financial performance with loan book growth and cost discipline.

• Loan book rose 2.6% sequentially to £19.7bn, supported by selective originations and OTD strategy.

• Customer deposits increased 1.8% to £18.7bn, with cost of deposits reduced to 3.71%.

• Asset quality remained robust, with 3-month-plus arrears at 1.7%.

• Strengthened capital position via £250m AT1 issuance in April 2026.

Financial highlights

• Loan book (including OTD) at £19.7bn, up from £19.2bn at year-end 2025.

• Customer deposits at £18.7bn, up from £18.4bn.

• CET1 ratio improved to 12.6% from 12.4%; total capital ratio at 14.9%.

• 3-month-plus arrears at 1.7%, up slightly from 1.6%.

• Cost of deposits reduced to 3.71% from 3.88% in FY 2025.

Outlook and guidance

• FY26 loan book guidance: c.£21bn.

• Cost to income ratio expected to be below 38%.

• CET1 ratio guidance above 13.2% (pre-Basel 3.1).

• Underlying return on tangible equity targeted at c.17%.

• Maiden ordinary dividend for FY26, payable in FY27.