{"success":true,"data":{"id":"4e4c191b-3a8a-4580-924f-be3f218448ed","title":"How will UK banks and their customers be affected by the Iran war?","summary":"Barclays, Lloyds Banking Group and NatWest will report their half-year results on Tuesday, Thursday and Friday respectively.","content":"US Edition Change\n\nSupport Now\n\n*   News[News](https://www.independent.co.uk/us)\n\n*   World Cup[World Cup](https://www.independent.co.uk/sport/football/world-cup)\n\n*   Sports[Sports](https://www.independent.co.uk/sport)\n\n*   Culture[Culture](https://www.independent.co.uk/arts-entertainment)\n\n*   Lifestyle[Lifestyle](https://www.independent.co.uk/life-style)\n\n*   Money[Money](https://www.independent.co.uk/us/money)\n\n*   Travel[Travel](https://www.independent.co.uk/us/travel)\n\n*   Premium[Premium](https://www.independent.co.uk/independentpremium)\n\nMore\n\nMore\n\n### Thank you for registering\n\nPlease refresh the page or navigate to another page on the site to be automatically logged in Please refresh your browser to be logged in\n\n# How will UK banks and their customers be affected by the Iran war?\n\n## Barclays, Lloyds Banking Group and NatWest will report their half-year results on Tuesday, Thursday and Friday respectively.\n\n[Anna Wise](https://www.independent.co.uk/author/anna-wise)Friday 24 July 2026 12:35 BST\n\n*   Copy link  \n*   Bookmark  \n\n## Bookmark popover\n\nRemoved from bookmarks\n\nClose popover\n\nSome of the UK’s biggest high street banks are set to have grown their profits over the first half of the year (Lucy North/PA)(PA Archive)\n\n### Your support helps us to tell the story\n\nFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. 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We believe quality journalism should be available to everyone, paid for by those who can afford it.\n\n**Your support makes all the difference.**\n\nSome of the UK’s biggest high street banks are set to have grown their profits over the first half of the year, but experts said there could be warnings over the risk of more bad loans as the [Iran](https://www.independent.co.uk/topic/iran) war pushes up the cost of living.\n\n[Barclays](https://www.independent.co.uk/topic/barclays), [Lloyds Banking Group](https://www.independent.co.uk/topic/lloyds-banking-group) and [NatWest](https://www.independent.co.uk/topic/natwest) will report their half-year on Tuesday, Thursday and Friday respectively.\n\nIt follows an uncertain few months for households and businesses with mortgage rates spiking following the start of the US-Israel’s war with Iran and higher oil prices pushing up fuel and energy bills.\n\nBut most experts are expecting the lending giants to have grown their profits over the first half of the year.\n\nBarclays is forecast to report a pre-tax profit of about £5.9 billion for the first six months of the year, up from a £5.2 billion profit the year before.\n\nAnd Lloyds is expected to have generated £4.1 billion, up from £3.5 billion in the same period in 2025.\n\nSteve Payne, KPMG’s UK head of banking, told the Press Association that banks are likely to continue benefiting from interest rates staying higher for longer, in response to concerns about inflation.\n\nAverage fixed mortgage rates shot up in April due to the financial uncertainty prompted by the conflict in the [Middle East](https://www.independent.co.uk/topic/middle-east) and have been ticking higher again in recent weeks.\n\nMr Payne said the impact of the conflict means “we will probably see at least some marginal, maybe slightly bigger than marginal, increases in the bad loan provisions that they put in place for people defaulting”.\n\n“We’ve seen the impact of the war in terms of things like higher fuel and food costs and generally pushing the cost of living higher,” he said.\n\n“And inevitably at some point that has to have an impact on credit quality.\n\n“There is a lag… the longer it goes on for, the more likely we are to see that credit quality deteriorate.”\n\nHe said banks were likely to take a “realistic approach” by increasing their provisions.\n\nRichard Hunter,head of markets for Interactive Investor, said: “Amid the ongoing conflict in the Middle East, concerns have grown for higher inflation and crimped consumer spending, which has left the banking sector under some pressure at various points throughout the year.\n\n“As such, levels of customer defaults and impairment charges for possible bad debts will be central for sentiment.\n\n“In a similar vein, interest rates are now expected to remain higher for longer which, all things being equal, should be positive for the sector.\n\n“However, it also raises questions around mortgage availability and affordability, such that reported loan demand will be under the spotlight.”\n\n### More about\n\n### Most popular\n\n### Popular videos\n\n### Bulletin","source_name":"The Independent","source_url":"https://www.independent.co.uk/news/business/barclays-iran-lloyds-banking-group-natwest-middle-east-b3020943.html","url":"https://www.independent.co.uk/news/business/barclays-iran-lloyds-banking-group-natwest-middle-east-b3020943.html","author":"Anna Wise","author_name":"Anna Wise","published_at":"2026-07-24T11:35:25.000Z","publication_date":"2026-07-24T11:35:25.000Z","image_url":"https://static.independent.co.uk/2026/07/24/12/c6e7af12705c89062eeff8d5294407a6Y29udGVudHNlYXJjaGFwaSwxNzg0OTc0MjU4-2.72909589.jpg","category":"markets","topic":"markets","tags":[],"political_bias":null,"bias_score":null,"confidence_score":null,"credibility_score":null,"factual_quality":null,"reading_time":4,"word_count":741,"view_count":0,"breaking":false,"breaking_news":false,"ai_analysis":null,"fact_check_status":"unverified","archive_status":"hot","language":null}}