UK banks took £2bn of loan-loss provisions in Q3

- Louie Woodall
- 30 Oct 2020

Leading UK banks topped up their loan-loss reserves with an additional £2 billion ($2.5 billion) of put-asides over the third quarter. This was 79% less than the amount taken over Q2, a drop that reflects how the coronavirus-induced damage to loan books has now been largely priced in.

Barclays and HSBC incurred the largest expected credit loss (ECL) provisions over the quarter, at £607 million

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