Marcelino Garcia
CEO & Director
Good morning, everyone. Welcome to the Shawbrook Half Year ’26 Results Presentation. I am Marcelino Castrillo, CEO, and with me today is our CFO, Dylan Minto. We have a lot to cover this morning, but my own personal reflections on the first half of ’26 can be summed up as follows. We have delivered a strong set of numbers on plan and/or on track. We have a business that delivers efficient growth within a large and diverse market, with plenty of runway ahead.
And that combination of tech capability and the expertise and skills of our people give us a competitive advantage, which is now amplified by AI. We are ambitious, and we ask a lot of our colleagues and partners. So I want to take — I want to thank them all for their hard work and contribution to delivering the performance that we will talk through now.
So shortly, Dylan will take you through the financial results in detail. I will then cover how we are continuing to leverage our tech and data capabilities to accelerate and benefit from the deployment of AI, further supporting the efficiency of our platform, which underpins Shawbrook’s ability to scale our specialist proposition across diverse markets. You will see the evidence of this efficient growth in the numbers we present today. There will be an opportunity to ask questions at the end.
So we’ve had a strong first half. The results show double-digit growth, attractive returns, efficiency improvements, and strong capital accretion. Underlying profit before tax increased by 16%, while underlying return on tangible equity remained strong at 18.1%. The loan book achieved double-digit growth, 10% on
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