diff --git a/src/parsers/trading212.ts b/src/parsers/trading212.ts
index daaba96..fb87f96 100644
--- a/src/parsers/trading212.ts
+++ b/src/parsers/trading212.ts
@@ -115,6 +115,26 @@ function isSkippedAction(action: string): boolean {
   return /deposit|withdrawal|currency conversion|card debit|spending cashback/i.test(action);
 }
 
+// ---------------------------------------------------------------------------
+// Fractional currency normalization
+// Trading 212 reports GBX (pence), ZAc (South African cents), ILA (Israeli
+// agorot) as-is. ECB only publishes GBP/ZAR/ILS so we normalize and ÷100.
+// ---------------------------------------------------------------------------
+
+const FRACTIONAL_CURRENCIES: Record<string, { base: string; divisor: Decimal }> = {
+  GBX: { base: "GBP", divisor: new Decimal(100) },
+  ZAC: { base: "ZAR", divisor: new Decimal(100) },
+  ILA: { base: "ILS", divisor: new Decimal(100) },
+};
+
+function normalizeCurrency(code: string): { currency: string; divisor: Decimal } {
+  const entry = FRACTIONAL_CURRENCIES[code.toUpperCase()];
+  if (entry && code.toUpperCase() !== entry.base) {
+    return { currency: entry.base, divisor: entry.divisor };
+  }
+  return { currency: code, divisor: new Decimal(1) };
+}
+
 // ---------------------------------------------------------------------------
 // Parser
 // ---------------------------------------------------------------------------
@@ -143,10 +163,13 @@ function parseTrading212Csv(lines: string[]): Statement {
     const name = (fields[cols.name] ?? "").trim();
     const sharesStr = parseNumber(fields[cols.shares] ?? "0");
     const priceStr = parseNumber(fields[cols.pricePerShare] ?? "0");
-    const currency = (fields[cols.priceCurrency] ?? "").trim() || "EUR";
+    const rawCurrency = (fields[cols.priceCurrency] ?? "").trim() || "EUR";
+    const { currency: priceCurrency, divisor: priceDivisor } = normalizeCurrency(rawCurrency);
+    const currency = priceCurrency;
     // Currency (Total) is authoritative for cash transaction amounts: in EUR-primary accounts
     // the Total column holds the credited EUR amount, not the instrument's native currency.
-    const cashCurrency = (fields[cols.totalCurrency] ?? "").trim() || currency;
+    const rawCashCurrency = (fields[cols.totalCurrency] ?? "").trim() || rawCurrency;
+    const { currency: cashCurrency, divisor: cashDivisor } = normalizeCurrency(rawCashCurrency);
     const totalStr = parseNumber(fields[cols.total] ?? "0");
     const txId = (fields[cols.id] ?? "").trim();
 
@@ -160,7 +183,7 @@ function parseTrading212Csv(lines: string[]): Statement {
     // Withholding tax on dividend — must be checked before the generic dividend branch
     if (isDividendTaxAction(action)) {
       if (!ticker) continue;
-      const amountDec = new Decimal(totalStr).abs();
+      const amountDec = new Decimal(totalStr).abs().div(cashDivisor);
       if (amountDec.isZero()) continue;
 
       cashTransactions.push({
@@ -182,7 +205,7 @@ function parseTrading212Csv(lines: string[]): Statement {
     // Dividends
     if (isDividendAction(action)) {
       if (!ticker) continue;
-      const amountDec = new Decimal(totalStr).abs();
+      const amountDec = new Decimal(totalStr).abs().div(cashDivisor);
       if (amountDec.isZero()) continue;
 
       cashTransactions.push({
@@ -203,7 +226,7 @@ function parseTrading212Csv(lines: string[]): Statement {
 
     // Interest on cash
     if (isInterestAction(action)) {
-      const amountDec = new Decimal(totalStr).abs();
+      const amountDec = new Decimal(totalStr).abs().div(cashDivisor);
       if (amountDec.isZero()) continue;
 
       cashTransactions.push({
@@ -231,8 +254,8 @@ function parseTrading212Csv(lines: string[]): Statement {
     const qtyDec = new Decimal(sharesStr).abs();
     if (qtyDec.isZero()) continue;
 
-    const priceDec = new Decimal(priceStr);
-    const totalDec = new Decimal(totalStr).abs();
+    const priceDec = new Decimal(priceStr).div(priceDivisor);
+    const totalDec = new Decimal(totalStr).abs().div(cashDivisor);
     if (priceDec.isZero() && !totalDec.isZero() && cashCurrency !== currency) {
       continue;
     }
diff --git a/tests/parsers/trading212.test.ts b/tests/parsers/trading212.test.ts
index cf5d071..5aac11d 100644
--- a/tests/parsers/trading212.test.ts
+++ b/tests/parsers/trading212.test.ts
@@ -335,5 +335,65 @@ describe("trading212Parser", () => {
       expect(fractional).toBeDefined();
     });
   });
+
+  // -------------------------------------------------------------------------
+  // Fractional currency normalization (GBX → GBP ÷100)
+  // -------------------------------------------------------------------------
+
+  describe("fractional currency (GBX)", () => {
+    const GBX_CSV = [
+      HEADER,
+      "Market buy,2024-05-10 10:00:00,GB0031215220,BARC,Barclays PLC,100,185.50,GBX,0.86,,,18550.00,GBX,,gbx001",
+      "Market sell,2024-08-15 14:00:00,GB0031215220,BARC,Barclays PLC,100,210.00,GBX,0.85,,,21000.00,GBX,,gbx002",
+      "Dividend (Ordinary),2024-06-01 00:00:00,GB0031215220,BARC,Barclays PLC,,,GBX,0.86,,,450.00,GBX,,gbxdiv001",
+      "Dividend (Dividend tax),2024-06-01 00:00:00,GB0031215220,BARC,Barclays PLC,,,GBX,0.86,,,-45.00,GBX,,gbxtax001",
+    ].join("\n");
+
+    it("should normalize GBX price to GBP (÷100)", () => {
+      const result = trading212Parser.parse(GBX_CSV);
+      const buy = result.trades.find((t) => t.buySell === "BUY");
+      expect(buy).toBeDefined();
+      expect(buy!.currency).toBe("GBP");
+      expect(buy!.tradePrice).toBe("1.855");
+      expect(buy!.cost).toBe("-185.5");
+    });
+
+    it("should normalize GBX sell proceeds to GBP (÷100)", () => {
+      const result = trading212Parser.parse(GBX_CSV);
+      const sell = result.trades.find((t) => t.buySell === "SELL");
+      expect(sell).toBeDefined();
+      expect(sell!.currency).toBe("GBP");
+      expect(sell!.tradePrice).toBe("2.1");
+      expect(sell!.proceeds).toBe("210");
+    });
+
+    it("should normalize GBX dividends to GBP (÷100)", () => {
+      const result = trading212Parser.parse(GBX_CSV);
+      const div = result.cashTransactions.find((c) => c.type === "Dividends");
+      expect(div).toBeDefined();
+      expect(div!.currency).toBe("GBP");
+      expect(div!.amount).toBe("4.5");
+    });
+
+    it("should normalize GBX withholding tax to GBP (÷100)", () => {
+      const result = trading212Parser.parse(GBX_CSV);
+      const wht = result.cashTransactions.find((c) => c.type === "Withholding Tax");
+      expect(wht).toBeDefined();
+      expect(wht!.currency).toBe("GBP");
+      expect(wht!.amount).toBe("-0.45");
+    });
+
+    it("should NOT divide when currency is already GBP", () => {
+      const GBP_CSV = [
+        HEADER,
+        "Market buy,2024-05-10 10:00:00,GB0031215220,BARC,Barclays PLC,100,1.855,GBP,0.86,,,185.50,GBP,,gbp001",
+      ].join("\n");
+      const result = trading212Parser.parse(GBP_CSV);
+      const buy = result.trades[0]!;
+      expect(buy.currency).toBe("GBP");
+      expect(buy.tradePrice).toBe("1.855");
+      expect(buy.cost).toBe("-185.5");
+    });
+  });
 });