NS&I releases provisional results and 2022-23 net financing target

• Q3 2021-22 Net Financing of £1.6 billion
• As of 31 December 2021, Net Financing total of £2.2 billion, against a whole-year target of £6 billion, in a range of £3 billion to £9 billion
• 2021-22 Net Financing whole-year forecast is £4.0 billion (excluding Green Savings Bonds)
• 2022-23 Net Financing target: £6 billion (within a range of £3 billion to £9 billion)

NS&I today published its unaudited quarterly results for the third quarter of the financial year 2021-22 (October-December 2021). Net Financing for the quarter was £1.6 billion, giving a year-to-date total of £2.2 billion. 

Today’s Spring Statement confirms that NS&I’s whole-year Net Financing forecast for 2021-22 is £4.0 billion (excluding Green Savings Bonds). This is in line with its Net Financing target of £6 billion (within a range of £3 billion to £9 billion), set out in the Budget on 3 March 2021.

NS&I increased the interest rates on some of its variable rate products in Q3 in order to help meet the annual Net Financing target and to ensure that its products were priced in line with the broader savings sector. NS&I’s overall Net Financing performance for 2021-22 will be announced as part of its annual results later in 2022. 

2022-23

In the 2022 Spring Statement, it has also been confirmed that NS&I will have a 2022-23 Net Financing target of £6 billion, within a range of £3 billion to £9 billion. This excludes proceeds from Green Savings Bonds. 

Unaudited Q1, Q2 and Q3 2021-22 results (1 April – 31 December 2021)

NS&I financial results 2016-17 to 2020-21