4. Non-interest income | | | | | | | Half year ended | | | 30 June | | 30 June | | | 2026 | | 2025 | | | £m | | £m | Net fees and commissions (1) | | 1,317 | | 1,240 | Foreign exchange | | 219 | | 232 | Interest rate (2) | | 153 | | 281 | Credit | | 12 | | 57 | Changes in fair value of own debt and derivative liabilities attributable to own credit risk - debt securities in issue | | 1 | | 3 | Equities, commodities and other | | 1 | | 2 | Income from trading activities | | 386 | | 575 | Rental income on operating lease assets and investment property | | 115 | | 108 | Changes in fair value of financial assets and liabilities designated at FVTPL (3) | | (63) | | (85) | Changes in fair value of other financial assets and liabilities designated at FVTPL (4) | | 17 | | 22 | Hedge ineffectiveness | | 15 | | (13) | Profit on disposal of fair value through other comprehensive income asset | | 26 | | 4 | Loss on disposal of subsidiaries and associates | | (15) | | — | Share of profit of associated entities | | 18 | | 14 | Foreign exchange recycling profit (5) | | 133 | | 1 | Other income | | 23 | | (1) | Other operating income | | 269 | | 50 | Non-interest income | | 1,972 | | 1,865 |
| (1) | Refer to Note 6 for further analysis. |
| (2) | Includes fair value changes on derivatives not designated in a hedge accounting relationship, and gains and losses from structural hedges. |
(3)Includes related derivatives. (4)Includes instruments that have failed solely payments of principal and interest testing under IFRS 9. (5)Refer to footnote 6 of the Condensed consolidated statement of changes in equity.
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