Shawbrook Group (SHAW) Q3 2026 TU earnings summary

Executive summary

• Disciplined lending and funding growth continued, supported by a scalable platform and careful credit and cost management.

• FY 2026 guidance was reiterated, with loan book growth and capital generation supporting a maiden ordinary dividend payable in FY 2027.

Financial highlights

• Loan book including OTD reached £20.3bn at 30 September 2026, up 7.7% annualised from 31 December 2025; growth excluding the BMFL disposal was 10%.

• Customer deposits rose to £19.6bn from £18.4bn at 31 December 2025, an 8.7% annualised increase.

• OTD balances were £2.4bn, resulting in a loan book of £17.9bn, compared with £17.8bn at 31 December 2025.

Outlook and guidance

• FY 2026 guidance: loan book including OTD of ~£21bn, cost-to-income ratio below 38%, CET1 above 13.2% pre-Basel 3.1, and underlying RoTE of ~17%.

• FY 2026 CET1 guidance includes a deduction for the dividend expected to be paid in 2027; guidance is stated pre-Basel 3.1.

• Medium-term guidance: low-double-digit loan book CAGR from FY 2024, mid-30s cost-to-income ratio, mid-to-high-teens underlying PBT growth, high-teens underlying RoTE, and CET1 of 12–13%.